Cybercrime in the U.S. and around the world is a thriving business. Many of us know someone who has been scammed, had their identity or credit card numbers stolen, and other anger-inducing experiences.
If it were measured as a country, then cybercrime — which is predicted to inflict damages totaling $6 trillion USD globally in 2021 — would be the world’s third-largest economy after the U.S. and China.- -Steve Morgan/Editor in Chief - Cybercrime Magazine
One unassuming South Dakota University is gaining a global reputation for creating cybercrime busters and now they're expanding from their home in Madison to Sioux Falls.
Dakota News Now is reporting that Dakota State University-
... announced a $90 million push to expand it’s cyber-research abilities and education in Madison, and construct a new cybersecurity research center in Sioux Falls.- -Cooper Seamer/Dakota News Now
This initiative will not only expand the effort to keep more South Dakota cyber security program graduates in South Dakota but also provide those lucrative job opportunities.
The project's $90 million dollar budget will come from a number of sources including T. Denny Sanford, the city of Sioux Falls, and the State of South Dakota.
Sanford's donation of $50 million dollars will be dedicated to the construction of the cybersecurity research center that Dakota State University officials say could bring four to five hundred full-time jobs to Sioux Falls and will open in the fall of 2025.
A number of officials spoke at the press conference announcing the initiative, including Senator Mike Rounds who said:
Today more than ever, we have a responsibility to make certain that the United States is protected from nation states and cyber criminals who wish to do us harm.
With annual global cybercrime costs expected to grow to $10.5 trillion by 2025, this project is a more than welcome addition in Sioux Falls.