BREAKING: Congressman and gubernatorial candidate Dusty Johnson has just announced a bold initiative to support entrepreneurs in South Dakota. During a packed roundtable discussion in Sioux Falls on October 13, 2023, Johnson unveiled his plan to invest $2 million from the state’s future fund into a new program called “Launch South Dakota.”
This urgent initiative aims to shift the economic focus in South Dakota towards startups, offering higher investment in proof-of-concept awards and creating a vibrant environment for homegrown businesses. “I want to see South Dakota’s success by South Dakotans,” Johnson declared, emphasizing a commitment to nurturing local talent.
The roundtable featured influential business leaders, including MarketBeat CEO Matt Paulson and Sioux Falls Mayor Paul TenHaken, who voiced strong support for Johnson’s vision. “Thanks for a plan,” TenHaken praised, acknowledging the need for a proactive approach to economic development.
Johnson’s plan includes four key policies: increasing proof-of-concept awards, investing in mentorship for young entrepreneurs, expanding the state’s “Giant Visions” competition, and leveraging federal funding for venture activities. He stressed that this initiative does not replace support for larger businesses but rather complements it, stating, “We should never be putting all of our eggs in one basket.”
The Future Fund was specifically chosen for this initiative, as Johnson noted that the governor controls it with legislative oversight. He expressed optimism about the program’s potential, saying, “We could only be so lucky as to have the entirety of the Future Fund be gobbled up because smart people are investing in South Dakota.”
As technology and AI continue to evolve, Johnson believes that empowering entrepreneurs will be crucial for the state’s economic resilience. “These are the first four big steps I’m taking toward entrepreneurship. They will not be the last,” he assured attendees.
In contrast, Governor Larry Rhoden’s campaign highlighted the current success of South Dakota’s economy, claiming it has the lowest unemployment rate in the nation and the second-fastest growing economy. A spokesperson stated, “Governor Rhoden believes his job is to get government out of their way, and the results of that approach speak for themselves.”
The discussion also touched on reviving the Dakota Seeds Program, which previously provided funding for internship wages, with many in attendance, including Johnson, advocating for its return to help local businesses.
This announcement is just the beginning of a larger conversation on fostering entrepreneurship in South Dakota. As the political landscape shifts, all eyes will be on how these plans unfold in the lead-up to the gubernatorial election.
Stay tuned for updates as responses from other candidates emerge. Follow Dakota News Now for the latest developments in this rapidly evolving story.
