RAPID CITY, S.D. — Former North Dakota Gov. Ed Schafer says South Dakota business owners interested in capitalizing on the oil boom in North Dakota don’t need to head north to get involved.
Schafer spoke to the business owners during the keynote speech of a conference about the Bakken oil boom and opportunities for western South Dakota businesses. The one-day conference is sponsored by Hegg Companies Inc. of Sioux Falls and the Law Bulletin Publishing Company of Chicago.
Schafer says the companies that supply labor and materials to the oil companies are pushing out to communities outside the boom in hopes of finding cheaper labor and rent.
Lyndon Bolt, owner of Bolt construction in Rapid City, said that the oil boom is giving local business owners a once-in-a-lifetime opportunity.