UPDATE: Congressman Dusty Johnson just announced a bold initiative to support entrepreneurs in South Dakota, pledging $2 million for new investments. During a roundtable in Sioux Falls on Friday, Johnson revealed his plan, named Launch South Dakota, aimed at transforming economic development towards startups.
This initiative comes as South Dakota seeks to redefine its economic landscape, focusing on homegrown ideas and empowering local entrepreneurs. Johnson, who is also a gubernatorial candidate, emphasized the need for a shift in priorities, stating, “We’re a lot stronger when we’re putting more of those eggs into some of the smaller baskets.” His plan outlines four key policies: increasing proof-of-concept awards, investing in coaching for young entrepreneurs, enhancing the state’s “Giant Visions” competition, and leveraging federal funding for venture activities.
In a packed room filled with business leaders, the excitement was palpable. Johnson’s announcement resonates with many who believe South Dakota should prioritize nurturing local talent over chasing large, out-of-state investments. “A goal without a plan is just a wish,” remarked Sioux Falls Mayor Paul TenHaken, praising Johnson’s structured approach to entrepreneurship.
“I want to be for entrepreneurship. I want to be for new businesses. I want to be for economic development,” TenHaken added. “That is not how we’re going to keep a lot of you in this state.”
Johnson’s plan aims to stimulate startup growth by utilizing funds from the Future Fund, which he controls as governor. He expressed optimism about the initiative’s potential, stating, “These are the first four big steps I’m taking toward entrepreneurship. They will not be the last.” He indicated that if the program proves successful, it could lead to further investments, enhancing South Dakota’s reputation as a startup hub.
Meanwhile, current Governor Larry Rhoden responded by highlighting his administration’s achievements, including the state’s lowest unemployment rate in the nation and rapid economic growth. His campaign spokesperson emphasized, “A Governor’s job is to get things done, and Governor Rhoden has accomplished that.”
The urgency of Johnson’s plan reflects a broader need for economic resilience as industries evolve with technology and artificial intelligence. Johnson believes that fostering a robust entrepreneurial ecosystem will be crucial to adapting to these changes.
Looking ahead, Johnson’s initiative is expected to attract significant attention from both local business leaders and aspiring entrepreneurs. The response from other gubernatorial candidates will be closely watched as the race progresses.
As discussions continue, Johnson remains committed to refining his approach, welcoming input from the community. “Real success, real leadership is collaborative,” he stated, underscoring the importance of collective efforts in driving economic growth.
This story will be updated as new responses from candidates emerge. For the latest updates on the South Dakota gubernatorial race, stay tuned to Dakota News Now.
