Sioux Falls, SD – During the past six years South Dakota Technology Business Center client and graduate companies have created 339 new jobs and paid an average salary of greater than $70,000 in 2009. The Center was started by Forward Sioux Falls in 2004 to foster entrepreneurship and create high-wage, high-skill career opportunities in the Sioux Falls area.

 “Job growth for our clients and graduates did slow in 2009,” says Rich Naser, the Center’s executive director. “But given the economic conditions, we are excited that these companies still needed to add 28 new positions.”

Not only did employment continue to increase, but sales were up 84 percent. “This was probably the most surprising number in our annual economic impact data,” says Naser. “Total sales for our companies increased from $54 million in 2008 to just over $100 million in 2009.”

Companies continued to have success in securing equity investment in 2009, another key measure of entrepreneurial activity. SDTBC clients and graduates received an additional $2.29 million in equity investment, bringing the six-year total to more than $44 million dollars in equity funding. Of the $44 million total,  $40 million was raised after the companies began working with the Technology Business Center.

One key innovation indicator did slow significantly for the Center’s clients according to Naser. The total number of patents pending increased from 25 to 26 from 2008 to 2009 and the number of patents secured remained at 11. “The low number of patents issued in the Sioux Falls area has been identified through the Future Sioux Falls economic development planning process as an issue that needs to be addressed,” says Naser.  “The growth in private sector research at Sanford, Avera, POET and others will likely improve patent numbers for Sioux Falls.  However, the lack of university research activities in Sioux Falls is something we still need to resolve.”

For more information about the South Dakota Technology Business Center, visit www.sdtbc.com or contact Rich Naser at (605) 275-8010.