Black Hills Corporation

Published : September 29th, 2015

Black Hills Corp. Breaks Ground, Reveals Details for New Corporate Headquarters

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Keywords :   Coal | Growth | Natural Gas | Oil |

Black Hills Corp. Breaks Ground, Reveals Details for New Corporate Headquarters

Sept. 28, 2015 - Black Hills Corp. today broke ground on a new corporate headquarters in Rapid City that represents the tremendous leap in size that the company has seen over the past decade, as well as growth that is expected in the coming year.

The company that began as an upstart energy provider in the 1880s mining town of Deadwood, South Dakota, is today home to 2,000 employees, serves 792,000 utility customers in seven states and generates wholesale electricity and produces natural gas, oil and coal.

The company's 130-plus year history of safe, reliable service and sustained growth was recognized today at the groundbreaking for Black Hills Corp.'s new corporate headquarters in south Rapid City, along the U.S. Highway 16/Mount Rushmore Rd. corridor at Catron Blvd.

'Black Hills Corporation is more than Black Hills Power,' said Black Hills Corp. Chairman, President and CEO David Emery to a crowd that included Rapid City Mayor Steve Allender and other civic and business leaders.

'We are one of the largest publicly traded companies headquartered in South Dakota,' Emery said. 'We're proud to call Rapid City our home. By choosing to build our new corporate headquarters in Rapid City, we are reaffirming our commitment to Rapid City and the state of South Dakota.'

Black Hills also remains committed to growth, Emery said. 'In a decade, we have grown to 12 times our original size and created 300 additional jobs in Rapid City,' he said. 'In July, we announced our pending $1.89 billion acquisition of SourceGas, a natural gas utility headquartered in Colorado. With that purchase, we will gain 425,000 additional natural gas customers. After closing, we will serve 1.2 million customers in 790 communities across eight states. Ninety-five percent of those customers will be located outside of South Dakota.'

The company is consolidating 500 Rapid City corporate employees from five locations into the new headquarters, creating efficiencies to benefit customers, employees and shareholders. 'The building's design reflects more than a century of pride and community service in a state-of-the-art facility that incorporates LEED-based sustainability measures and features practical, comfortable and flexible workspaces,' Emery said.

Mayor Allender recognized Black Hills Corp. as an important community and regional partner for more than 130 years. 'Over the past six years alone, Black Hills and its employees donated more than $2.8 million to almost 200 organizations and volunteered thousands of hours of their time in this area,' he said. 'This new facility should attract a diverse mix of talent that is proud to join us in calling Rapid City home.'

Benjamin Snow, president of the Rapid City Economic Development Partnership, echoed Mayor Allender's enthusiasm. 'Rapid City is poised for new growth, and this investment by Black Hills Corporation is the latest example,' Snow said. 'This new facility will anchor expansion along this entire U.S. Highway 16/Mount Rushmore Road corridor.'

Emery said employees will begin moving into the new headquarters when construction is completed in fall 2017.

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Black Hills Corporation

CODE : BKH
ISIN : US0921131092
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Black Hills is a producing company based in United states of america.

Black Hills is listed in Germany and in United States of America. Its market capitalisation is US$ 2.9 billions as of today (€ 2.7 billions).

Its stock quote reached its lowest recent point on April 11, 1986 at US$ 1.27, and its highest recent level on February 07, 2020 at US$ 87.12.

Black Hills has 53 544 761 shares outstanding.

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