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GOED approves $121M in loans, grants for state projects

Josh Chilson
/
SDPB

The Governor’s Office of Economic Development and the Economic Development Finance Authority are investing more than $100 million in state businesses.

A total of six loans, two grants and two bond resolutions are being approved. The governor’s office said these will lead to nearly 150 full-time jobs.

“The Governor’s Office of Economic Development is proud of the role they play in helping these companies grow,” said Gove. Kristi Noem in a press release Thursday announcing the investments. “These companies and communities are choosing to make significant investments in South Dakota.”

The projects include:

  • Plainview Dairy, LLC near Toronto was authorized for up to $25 million in Livestock Nutrient Management bonds. When issued, the bonds will be used for solid waste management and disposal at the new dairy.
  • Wildrose Dairy, LLC in Brandt was authorized for up to $4.8 million in Livestock Nutrient Management bonds. When issued, the bonds will be used for solid waste management and disposal functions at an expanding dairy farm.
  • Midstates, Inc. in Aberdeen was approved for an SD Works loan of $800,000. The loan will be used to purchase new printing equipment.
  • JMP Design and Catering in Madison was approved for an SD Works loan in the amount of $549,696. The loan will be used to construct and furnish an event venue.
  • RF Holdings, LLC of Watertown was approved for an SD Works loan in the amount of $364,000. The loan will be used to construct a new building and purchase equipment for Active Heating, Inc. as part of the business expansion.
  • BibiSol, LLC in Sioux Falls was approved for an SD Works loan in the amount of $57,300. The proceeds will be used for leasehold improvements, furniture and fixtures, and equipment purchases for a new restaurant.
  • Never Too Busy Construction in Lennox was approved for an SD Works loan of $46,500. The loan will be used to purchase an existing construction business.
  • Grant County Development Corporation in Milbank was approved for a REDI loan of $426,025 to purchase vacant land for an industrial park.
  • The City of Canton was approved for a Local Infrastructure Improvement Program grant of $423,000. The grant will be used to extend a street and related infrastructure within the Canton Industrial Park.
  • The City of Dell Rapids was awarded an Economic Development Partnership Program grant for $1000. The funding will be used to attend economic development training.
Jackson Dircks is a Freeburg, Illinois, native. He is pursuing a degree in English, Journalism and Secondary Education at Augustana University and planning to graduate in May 2025. He plans to pursue a career in sports journalism.