Vantage Point Solutions Celebrates Office Expansion
July 17, 2018
The 25,000 square foot office addition nearly doubles the size of the company’s headquarters.
Vantage Point Solutions announces the completion of their 25,000 square-foot office expansion. A grand opening was held on July 10, featuring South Dakota Governor Dennis Daugaard.
“This is the best kind of economic development,” Governor Daugaard commented about the employee growth. “They want to be productive and they want to add value to the business every day.”
The $3 million expansion was financed in part by a $1.35 million REDI loan from the Governor’s Office of Economic Development, as well as a TIF (Tax Increment Financing) agreement with the City of Mitchell.
The ceremony capped off a year of construction, which nearly doubled the size of the existing 30,000 square foot building. The office houses approximately 150 of Vantage Point’s 250 employees, with other staff located in dozens of states around the country.
Vantage Point provides engineering, consulting, outside plant, data network and cybersecurity, and integration services for hundreds of network operators across North America, including both broadband providers and financial institutions. Unique in the industry, Vantage Point offers a comprehensive range of services to both it’s broadband and financial services clients.
“I thought it would be the next CEO that would worry about an expansion, but it came a little faster than I thought,” joked Larry Thompson, CEO. “But we had people doubled up in offices and working out of the conference rooms, so this just made sense.”
Founded in Mitchell, South Dakota in 2002, Vantage Point discovered a niche in working with small rural carriers. This experience – clients in remote areas, often with small staffs and tight budgets – has proved invaluable as more diverse entities look at providing broadband to citizens. “The small rural carriers almost always take good care of the customers they serve,” says Thompson. “But many rural areas are served by large carriers that don’t always provide adequate services to their customers. And we’ve been able to work with some rural companies in addressing those service gaps.”
Thompson acknowledges that a business plan in these areas can sometimes be difficult. “It can be tricky, but with competitive analysis and thoughtful discussions, including establishing partnerships, it can end up being a great thing for the people who live in that area.” VPS has brokered several of these partnerships. “The synergies that partnerships provide can help make a network cost-effective. That’s especially important in rural areas, which are harder to serve economically,” Thompson says.
Growth Based on Success
Vantage Point’s growth has mirrored the increase in broadband demand nationwide. Across the country, consumer demand for broadband capacity is growing exponentially. Vantage Point’s experience and expertise in all areas of broadband deployment helps broadband providers anticipate, plan for, and build “future-proofed” networks to accommodate this rising demand.
This comprehensive approach has been especially successful in securing broadband loan and grant funds for clients. Earlier this year, Vantage Point exceeded $1.4 billion in cumulative loan and grant funding secured for their clients. “Grant and loan applications often require both engineering plans and financial analysis. Our clients’ applications benefit from the synergy and collaboration of those experts working together,” says Carmen O’Neill, Asst. Director of Engineering at Vantage Point and a renowned broadband grant specialist.
“Broadband plans have to account for the business plan, regulations, network engineering, and the plant facility itself,” explains Chad Glanzer, President of Vantage Point. “We have all of those elements under one roof, and our clients benefit from having the expertise from each area building onto the expertise from other areas. Not only is it effective, it’s also easy for our clients. One phone call, and they have three-hundred-and-sixty degrees of expertise ready to help. We can start with a client at step one, and see them all the way through.”
To learn more about Vantage Point Solutions, including employment opportunities with the company, please continue to explore the website.
ABOUT SD GOVERNOR’S OFFICE OF ECONOMIC DEVELOPMENT – The South Dakota Governor’s Office of Economic Development (GOED) works to expand primary job opportunities for all South Dakotans. We strive to retain and expand existing businesses, foster new businesses, facilitate business succession and recruit out-of-state businesses. The office works closely with community economic development corporations to expand and diversify the state’s industry and economy. Additionally, the GOED administers a variety of financing opportunities available to new and existing businesses.