New businesses in the Lead-Deadwood area means more economic growth

LEAD-DEADWOOD, SD (KEVN) In the last year, the city administrator for Lead, Mike Stahl, says about eight new businesses have opened their doors in the Lead-Deadwood area.

Even though more businesses are popping up in the Lead-Deadwood area, the housing shortage is still an issue. (KEVN)

"That someone has faith in the community. That they think that they can participate in the economics of the community and make a living," says Stahl.

It isn't only new businesses that are helping with the town's economic growth; it's also more established ones.

"But the businesses that have been here are investing in their businesses as well. Reinvesting and either expanding, upgrading stuff like that," says Stahl.

Other benefits, more diversity.

"If you want to move to Lead-Deadwood, you have more places to shop and things to do. And entertain and whatever it might be that those businesses are offering," says a broker associate for The Real Estate Center of Lead-Deadwood, Eric Henneman.

As the area continues to grow, some may think it could fix the housing shortage in Lead-Deadwood, but Stahl says housing is a significant issue.

"High construction cost for materials out in the Black Hills and again back in the Lead and Deadwood it's very expensive just to put infrastructure in," says Stahl.

Another problem there is still not enough existing homes in the area.

"With more people moving into the area, with more economic development, we feel that we're really behind as far as having enough housing for everybody," says Henneman.

Even though more businesses will not fix the issue, both Henneman and Stahl believe the Lead-Deadwood area is moving in the right direction.

"Well, in this case, all the boats are floating, and everybody is upbeat about the community," says Stahl.