Pierre Economic Development Corporation

Borrower Profile
Pierre Economic Development Corporation
Pierre, South Dakota
OVERVIEW: First formed in 1980 as Pierre Unlimited, the Pierre Economic Development Corporation (PEDCO) has been
involved in helping to shape Pierre’s growth. The Ramkota RiverCentre, Runnings Farm & Fleet Distribution Center, the
new South Dakota Governor’s Residence and Eagle Creek Software Services are all examples of an enthusiastic board of
directors and hundreds of dedicated volunteers united in the cause of building a better Pierre. PEDCO, with Jim Protexter
serving as executive director, is committed to expanding the area’s economy through diversification of employment
opportunities.
SERVICES AND CLIENTS: In addition to job creation and business attraction and retention, PEDCO considers
affordable workforce housing for Pierre and Hughes County to be a priority. While there have been rental housing
units added to the Pierre market in recent years, established rents have been higher than the targeted workforce
income parameters.
CLIENT SPOTLIGHT: One of the largest rental housing projects ever built in Pierre was made possible in part to
a Capital Investment Fund loan from Dakota Resources to the Pierre Economic Development Corporation. The 57-unit
Highlands Ridge Apartments in the city’s growing north side offers single and two-bedroom units. According to a
comprehensive housing market analysis, the vacancy rate for one-bedroom units in Pierre is below 2 percent. The
Highlands Ridge project helps PEDCO welcome new jobs and new workers to Pierre. In 2008, Eagle Creek Operation
began operations on a site purchased by PEDCO. Now the organization owns a 27,000 square foot building on a 3.7
acre site donated by the City of Pierre.
FOR INFORMATION visit www.dakotaresources.org, call 605-978-2804 or email [email protected]