CAPITAL Corporate News

CAPITAL Expands Operations to Brookings
June 20, 2003

PIERRE - Brookings residents will soon be seeing a flurry of activity in the Weise Business Park as CAPITAL Card Services (CAPITAL) of Sioux Falls constructs a 15,000 square foot credit card servicing center, Governor Mike Rounds announced today.

The company, which is a leader in portfolio management and card outsourcing solutions, plans to construct a multi-million dollar facility in Brookings and will create 15 to 30 jobs, according to Rounds.

“Here is a company that has tremendous growth potential,” Rounds said. Started in Sioux Falls in 1998, the company currently employs 180 at its corporate headquarters there. “CAPITAL plans to hire 25-30 people in Brookings as soon as the building is completed,” Rounds said. “The initial hiring is great news, but even better news is the anticipated growth of this company during the next five years,” he added.

The company first started considering expanding about a year ago, according to Jeff Aegerter, president and CEO of CAPITAL Card Services. “We looked both in and out-of-state, but in the end, the advantages of doing business in South Dakota led us to our Brookings location,” he said.

Aegerter said his company is excited about its presence in Brookings, “The community is very progressive. The city officials have been wonderful to work with and have made our decision to locate here an easy one,” he added.

Richard Smith, executive director of the Brookings Economic Development Corporation, said his community “is thrilled that CAPITAL has selected the city of Brookings to expand its servicing business.” Smith said several factors played into the company’s decision, but one was definitely the workforce. “We believe the quality of the workforce in our community will bring added-value to their business model,” Smith said.

Construction on the new facility will begin in July and is expected to be completed by December 2003. The new facility will be able to house more than 175 employees.