Beginning Farmer Bonds, Dakota Protein Solutions approved for funding by Governor’s Office of Economic Development
PIERRE, S.D. — More than two dozen jobs and $26.6 million in capital expenditures are anticipated to follow the latest round of economic development funding OK’d by the Governor’s Office of Economic Development.
The South Dakota Governor’s Office of Economic Development (GOED) Board of Economic Development and the Economic Development Finance Authority (EDFA) have approved $3.6 million worth of bonds and low-interest loans Gov. Larry Rhoden says will boost the state’s agricultural sector and strengthen South Dakota’s economy.
“South Dakota is Open for Opportunity, especially in our agriculture sector,” Rhoden said. “We’re proud to provide an environment where agricultural businesses can succeed.”
Among the approved projects, the EDFA granted a Beginning Farmer Bond of up to $634,000 for Jameson Peters to purchase 136.7 acres of farmland in Marshall County. Additionally, Cody and Codi Kafka’s application for a Beginning Farmer Bond of up to $510,000 was recognized to assist in launching their small farming operation.
Dakota Protein Solutions LLC secured a $2.5 million REDI loan to expand its rendering plant in Freeman. The funds will enable the business to add a hothouse and heaters to its facility.
“South Dakota is investing in its future by supporting agriculture,” GOED Commissioner Joe Fiala said. “This creates a strong business environment that keeps talent here.”
