We do this very often where I work by using the App.config file. Create an app.config file for your project and add key-value pairs for each of the sql statements. For example:
<configuration>
<appSettings>
<add key="PRODUCTS_QUERY" value="SELECT * FROM Products"></add>
<add key="EMPLOYEE_QUERY" value="SELECT * FROM Employee"></add>
</appSettings>
</configuration>
Then, in your code, you can pull the queries from the file using something like this (for VB.NET):
Dim myReader As New System.Configuration.AppSettingsReader
Dim productsQuery As String = myReader.GetValue("PRODUCTS_QUERY", GetType(System.String))
Dim employeeQuery As String = myReader.GetValue("EMPLOYEE_QUERY", GetType(System.String))
But note - the App.config file gets compiled into a ProjectName.exe.config file in the bin folder - this is the file that you should change if you want to change the SQL without rebuilding.
Edit:
You can also try using an xml file and then parsing with XPath. It's very powerful and very easy. Check out one of these tutorials:
http://www.w3schools.com/xpath/
http://www.zvon.org/xxl/XPathTutorial/General/examples.html