Black Hills Energy, formerly Aquila, believes that in economic development, the community is a product in a competitive marketplace. While some community characteristics - such as geographic location - are fixed, other aspects of the community can be improved over the long or short-term. The Cooperative Investment  program is a partnership involving our dollars and assistance in conjunction with local dollars, local economic development expertise and a specific project designed to prepare or improve the community for economic development.

Through the Cooperative Investment program, Black Hills Energy may provide a maximum of 50 percent of the total project cost, generally not to exceed $3,000 on a dollar-for-dollar matching basis. These investments are for assistance to projects that improve the community "product".  The funds may not be used to pay salaries of regular employees, administrative costs, infrastructure costs not directly related to a job-creation project, non-infrastructure capital construction or other non-marketing costs. Subcontracts with consultants or other economic development service providers are allowed.

Apply on-line by completing an

Examples include, but are not limited to, the following:

• Advertising or targeted direct mail programs to market an attractive, available building
• Travel in conjunction with prospect follow-up or development
• Direct mail and telephone follow-up to potential buyers of a business scheduled to close
• Labor force studies for a specific, prospective business
• Preparation of business plan, grant application or loan package to support a specific project
• Project feasibility study such as Brownfield redevelopment study, motel market analysis, or animal feed market study
• Making calls on corporate headquarters that have facilities in your community
• Industrial park development planning or engineering
• Phase I Environmental Assessments
• Feasibility studies for housing, public works related to economic development
• Preparation of grant applications for community infrastructure planning or construction

 

Projects will be rated by the Black Hills Energy state economic development managers. Communities are encouraged to get assistance from Black Hills Energy personnel and other economic development agencies in developing their proposals.

Applicants must be a generally recognized economic development organization or unit of general local government. You can apply electronically by using our on-line cooperative investment application form.  

1. Project Title
2. Total cost of the project identifying source and amount of cash and in-kind resources. (Note: minimum dollar-for-dollar cash community match is required.)
3. Amount requested from Black Hills Energy.
4. The opportunity or challenge to be addressed. (Specifically identify the company or audience being targeted, their need or needs, and the community’s assets to meet that need.)
5. Potential for success including benefits (jobs, investment, tax base, energy usage) within the next one, three or five years
6. Consequences of not addressing this problem or opportunity
7. Experience the applicant has in successfully completing such marketing projects
8. Detailed schedule for this project including start date, key milestone dates and completion date

Successful applicants are expected to meet the following conditions:

• Consult with Black Hills Energy on fine-tuning of project
• Recognize Black Hills Energy involvement on printed materials and through a joint news release
• Complete project within 12 months
• Include appropriate documentation of project expenses and evidence of local payment when requesting funds from Black Hills Energy

For more information, complete our Information Request Form  or contact your Economic Development Team Representative.