RAPID CITY, SD, October 5, 2018 – Benjamin Snow, President of the Rapid City Economic Development Partnership in Rapid City, South Dakota has earned the designation of Certified Economic Developer (CEcD), a national recognition that denotes a mastery of skills in economic development, professional attainment and a commitment to personal and professional growth.
The CEcD exam was administered by the International Economic Development Council (IEDC)
on September 29-30, 2018 in Atlanta, GA at the Hyatt Regency Atlanta. With nearly 16 years of economic development experience, Mr. Snow has enjoyed remarkable success during his career which spans service in the Denver, Colorado MSA (Metropolitan Statistical Area) and for the past 9 years in Rapid City, South Dakota. During his service in Rapid City, the Rapid City MSA has experienced GDP Growth of 30% (from $5 to $6.5B), and significant growth in several other key metrics, including population, household income, assessed real estate valuation, taxable sales and annual construction permit valuation. Rapid City has also ascended the list of Policom’s Economic Strength Ranking during this same period, moving up from 200 (out of a total of 383 MSAs) in 2009, to 118 in 2018. This consistent market growth has also influenced a dramatic increase in air service to Rapid City. In 2009, there were direct connections to 6 major U.S. hubs. Today that number is 11.
While there are now many new companies that have opened facilities and offices in Rapid City, the Economic Development Partnership is most proud of the organic growth resulting from assistance provided to our existing base of companies. The overall impact of aligning the organization’s economic development tools and resources with higher-paying jobs in target industries has resulted in the retention and creation of 5,384 jobs, $362.1M in new capital investment and a direct payroll impact of $277.9M annually. The average wage associated with this growth is nearly $52,000, which is 48% higher than the prevailing wage.
During his service in Rapid City, Mr. Snow has also been instrumental in the launch of the Rapid City Economic Gardening® Network, creation of the Rushmore Region Marketing Alliance®, formation of two regional Angel Funds, recent launch of Elevate Rapid City® and the creation of a Regional Economist position within the Black Hills Knowledge Network, an organization he also currently chairs. He has also helped drive start-up company growth in the Ascent Innovation Center and consequent demand for a second facility, currently planned to open in the East of 5th District between SD Mines and Downtown.
The CEcD designation recognizes qualified and dedicated practitioners in the economic development field and sets the standard of excellence within the profession. Candidates must pass a rigorous and comprehensive examination, which has three parts and spans two days. The exam tests a practitioner’s knowledge, proficiency and judgment in the following key areas of economic development:
business retention and expansion
finance & credit analysis
marketing and attraction
entrepreneurial & small business development
managing economic development organizations
neighborhood development strategies
real estate development & reuse
technology-led economic development
workforce development strategies
As highly competent economic development professionals, Certified Economic Developers work with public officials, business leaders and community members to create leadership to build upon and maximize the economic development sector. Excellence in the economic development profession improves the well being, quality of life and opportunities for individuals, businesses and communities. There are currently over 1,100 active CEcDs in the United States.
About the International Economic Development Council
The International Economic Development Council (IEDC) is a non-profit membership organization serving economic developers. With more than 5,000 members, IEDC is the largest organization of its kind. Economic developers promote economic well-being and quality of life for their communities, by creating, retaining and expanding jobs that facilitate growth, enhance wealth and provide a stable tax base. From public to private, rural to urban, and local to international, IEDC’s members are engaged in the full range of economic development experience. Given the breadth of economic development work, our members are employed in a wide variety of settings including local, state, provincial and federal governments, public-private partnerships, chambers of commerce, universities and a variety of other institutions. IEDC’s members create high-quality jobs, develop vibrant communities and improve the quality of life in their regions. www.iedcONLINE.org.
About the Rapid City Economic Development Partnership
The Rapid City Economic Development Partnership is well-reputed as the most knowledgeable, best informed, best connected and most pro-growth champion of economic development in greater Rapid City. We employ strategies designed to improve the quality of life and increase personal income levels for all our city’s and region’s residents. The Partnership is also active in shaping policy vital to economic growth and bringing together leadership from government, education and business. www.rapiddevelopment.com.