PIERRE, S.D. – The Governor’s Office of Economic Development Board of Economic Development and the Economic Development Finance Authority took action at this month’s meetings, approving a total of $12.5 million in bonds, $2,255,960.00 in loans, and $5,869,818 in grants. These projects reflect a capital investment totaling over $161 million and are projected to create 336 new jobs across multiple industries throughout South Dakota.
“South Dakota’s economy is continuing to grow and flourish. These new projects and expansions will bring some much-needed jobs to our state,” said Governor Kristi Noem. “I am proud of the role that my Office of Economic Development will be playing in the long-term success of these efforts.”
County Line Dairy, LLC, a 5000-head dairy in northeast Hamlin County, was approved for a Livestock Nutrient Management Bond of up to $12,500,000. The bonds will be used for the construction of structures to properly dispose of waste animal manure generated by dairy operations. The new dairy is expected to add 30 new full-time positions.
Borns Group, Inc. is a family-owned business in Aberdeen providing complete marketing solution. The company was approved for a Revolving Economic Development and Initiative (REDI) Fund loan of $1,568,210. The loan will assist with the purchase of equipment and allow the business to remain not only in the family, but also in South Dakota. It will result in 35 new full-time positions.
Dark Canyon Coffee is a coffee roasting company that provides service to a five-state region. They were approved for a $60,000 SD Works loan to fund an expansion and purchase of equipment. Four new full-time employees will be added through this expansion, allowing the company to continue to provide sales and services at the volume and variety their customers are used to.
The purchase of an existing convenience store in Pickstown will be funded by two SD Works loan. The first loan will be made to MaSco8 LLC for $115,000 for site improvements, including remodeling the facility and expansion of the existing building. The second will go to Gus Stop 8 for $130,000 to purchase new equipment. As the result of the purchase, the convenience store will add approximately 25 full-time positions. The store will maintain their presence in the community and continue to be a source of sales tax revenue.
DeSCO Architectural, Inc in De Smet is a manufacturer of aluminum windows. They were approved for a SD Works loan of $34,366. The company will be investing in the purchase of new automated equipment.
Five new full-time positions will be added. The new equipment will expand the company’s reach and increase the number of windows that the company can produce.
S&S Ag Supply, LLC of Hurley is a seed cleaning and treatment company that will be relocating their agronomy-based business to a stand-alone facility. They were approved for a $358,384 SD Works loan and are adding 12 new full-time positions. The next facility will provide better access for their customers and provide more rapid delivery times.
Local Infrastructure Improvement Program (LIIP) Grants were awarded to three communities to help expand their industrial parks. The infrastructure improvements will benefit existing business as well as creating additional lots for future expansion.
The city of Viborg was approved for a LIIP grant totaling $500,000. Funding will be used for roadway construction and infrastructure, opening up an additional five lots within the park for development.
The city of Corsica was approved for a LIIP grant totaling $500,000. A 20-acre business park in the southwest corner of the community is planned, with funding assisting with road construction and infrastructure. This construction will create 15 lots within the park for development.
Lake Area Improvement Corporation of Madison was approved for a LIIP grant totaling $500,000. Funding will provide street access and utility infrastructure to 47 acres of undeveloped property.
Red Rock Real Estate, LLC of Centerville, will construct a new reverse osmosis milk processing plant near an existing dairy. The plant will process approximately 1.8MM pounds of milk per day based on the number of hours it is expected to operate, with 800,000 pounds of milk provided by dairies near the plant.
The company was approved for a Reinvestment Payment Program (RPP) of $1,094,080. The plant will create 21 new full-time positions.
Sonstegard Foods will build a new egg laying facility in Turner County and was approved for a RPP grant of $3,275,738. The new facility will include the construction of five barns housing approximately 1.25-million-layer chickens, a manure barn, processing facility, feed mill, and pullet site. Approximately 94 full-time employees will be added to the facility.
“I am pleased that GOED is able to help all of these communities and businesses across throughout the state,” said GOED Commissioner Chris Schilken. “We look forward to working with them and their continued growth.”
