This ultimately will create more jobs for our workforce."Īirport Executive Director Patrick Dame said he is pleased to work with Elevate Rapid City, the legislature and the governor's office to restore and build air service to the state. "As we bring in more competition and carriers, we can expect to see an increase in the number of companies considering the Rapid City region in response to these direct flight opportunities. "We know that in today's competitive landscape, air service is as critical to businesses in the decision-making process as workforce, incentives, and tax structures," said Elevate Rapid City President and CEO Tom Johnson. If the funds aren't spent, they will be returned to the state.
The airport will have up to four years to use the funds. These funds will be used to offset expenses to air carriers by providing revenue guarantees and/or assistance with startup costs. Funding was restricted to capital expenditures, airport operating expenses and debt payments.Īccording to a news release from Rapid City Regional Airport, all funds they receive through the state incentive will be managed and distributed by Elevate Rapid City through a joint effort to lure the air carriers to bring new service to Rapid City. However, using the federal dollars for incentives is prohibited.
Rapid City Regional Airport already received $9.2 million in emergency CARES Act funding in April 2020 from the Federal Aviation Administration. Smaller airports in Aberdeen, Pierre and Watertown that serve as essential air service locations will receive a share of $600,000 in incentive funding. The bill allocates $3.8 million split between Rapid City Regional Airport and Sioux Falls Regional Airport for marketing, route restoration, business development and air service marketing grants to help restore air service to airports in the state following the onset of the COVID-19 pandemic. Kristi Noem signed Senate Bill 162 into law this week.
Rapid City Regional Airport will receive $1.9 million in state funds to help develop new routes with potential new carriers after Gov.
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