"What Exactly Does the Development Office Do?"

Since taking this job last October, it’s the most oft-asked question I field. “What exactly IS the development office? What is it that you DO, Tovi?”

I’ve found, by and large, no one is 100% sure of what the Development Office does. Ask five people and you’ll get five different answers. Admittedly, that’s partly our fault. We need to better advertise our services to the business and entrepreneurial community. What good is an Office of Development if we’re not helping people develop anything?

The office is also shrouded in mystery because economic development means different things to different folks. To some, it means community development projects like the new pool. To others, it means recruiting new businesses to town. Still others contend that the office should focus on helping the businesses we have expand and grow. And you know what? There’s not a wrong answer in the bunch.

The day-to-day activities of this office vary. I work with the Governor’s Office of Economic Development on business proposals to companies looking to relocate to South Dakota. We do cold calls and follow up on leads that come from citizens that have ideas for businesses here in Tripp County. We look for ways to promote our excellent business climate. Currently, I’m working on new, comprehensive website with the Chamber that will help us effectively market the area to visitors and provide a wealth of information for residents and small businesses.

In another vein, we’re always looking at new incentives we can offer businesses to relocate. Each operation is different and, obviously, different ideas appeal to different industries. Without rail or natural gas, some of our manufacturing options are limited but we still feel that our high quality, clean, family-friendly community is the major factor working for us. We also provide resources to young families and professionals that want to return to the area.

Since taking this position nine months ago, I’ve learned a lot about the issues surrounding rural economic development. We don’t have an easy road ahead of us. Population trends show that we’re losing more people every year, both to relocation and natural attrition. I can’t stress how important local business retention and expansion is to our community. When a large company looks at relocating to Winner, they first look at the local business economy. Is it thriving? Does the community support their own backyard businesses? Supporting your local business district is a whole ‘nother column but I’d be remiss if I didn’t mention it as a major part of economic development success.

Finally, succession planning. As a community, we need to be looking ahead to find our small business owners of the future. If you’re planning to retire or are looking to sell your business, contact the Development Office. We will work with you to find the right transition situation. All consultations are confidential.

Here are a couple other Frequently Asked Questions that I’d like to see Asked More Frequently.

What is this Revolving Loan Fund you speak of?
A Revolving Loan Fund (RLF) is a source of money from which loans are made for small business development projects. A loan is made to one person or business and, as repayments are made, funds become available for new loans to other businesses. The money revolves from one person or business to another. RLFs provide the initial loans for business start-up and expansion. Often, they are used to fill a "financing gap" in a business development project.

Almost $300,000 is currently available to assist entrepreneurs with start-up costs or current businesses with expansion. Contact the Development Office for more details or to apply.

Can you help me with business planning?
Absolutely! We frequently partner with the South Dakota Small Business Development Center to provide support to entrepreneurs that are putting together their first business plan. We feel that the process of sitting down, working the numbers, looking at the marketshare and resources is a very beneficial process that every entrepreneur needs to complete. Come on into the office and we’ll take a look at your plans and assist you with the research you need to do before crafting the most workable plan.

Our partnership with SBDC and Third District Planning can provide you with market research, financial analysis, cash flow planning and marketing strategy for your start-up or business expansion.

What’s the difference between South Central Development Corporation and the Tripp County Office of Development?
The Tripp County Office of Development is an office charged with assisting Tripp County entrepreneurs with business start-up and expansion assistance and recruiting new businesses to the area. Operational costs are funded by the City of Winner (85%) and Tripp County (15%.) The office hosts monthly Unified Development Committee meetings with representatives from the City, the County, the Department of Labor, South Central Development, the Chamber of Commerce and a member at large.

South Central Development Corporation (SCDC) is a non-profit corporation that has over 140 shareholders that are committed to promoting community and business development in the Tripp County area. SCDC is governed by a volunteer board of 20, comprised of business leaders from the area.

Currently, Tom Kauer of Statewide Ag serves as president of the organization. Randy Vandhoek of Two Brothers, Inc. is our vice president, Dan Patmore of True Value serves as secretary and Treasurer Don Bice of Western Aviation rounds out our executive team. The group meets quarterly and has an annual meeting in February, which is open to all stockholders. SCDC shares are sold individually, are not transferable and are $250 a share. The SCDC board also considers applications for use of the Tripp County Revolving Loan Fund.

Where IS the Development Office?
Currently, we are located in the Statewide Ag Building at 201 Monroe Street. I’m here Monday through Friday and love it when folks stop in for a cup of coffee to visit about ideas they have for development or community growth. I also offer complimentary water, on tap.

In addition to office hours, you can always ring me up at (605) 842-1551, email at develop@winnersd.org or find our info online at winnersd.org. These articles are also available online at developwinnersd.blogspot.com.

My hope is that this column will be used a resource for our business community and will encourage more dialogue in regards to economic development right here in Winner.

TCB