Governor Announces Economic Development Grants
Wednesday, September 18, 2013
PIERRE, S.D. – Gov. Daugaard announced today the award of nine grants, totaling close to $1.8 million, for economic development efforts in the state. The grants, which were approved last week by the Board of Economic Development, were awarded under the newly established Reinvestment Payment Program, Local Infrastructure Improvement Program, Economic Development Partnership Program, and the South Dakota Jobs Program.
“These programs will help our communities to advance their economic development and job growth efforts,” said Gov. Daugaard. “Many people came together to create these new programs, and I am happy to see them bear fruit.”
The Local Infrastructure Improvement Program, Economic Development Partnership Program, and South Dakota Jobs Program are all part of the Building South Dakota Fund, which was created by Senate Bill 235. The Reinvestment Program was also part of Senate Bill 235, which was a comprehensive economic package that was passed this year by the state Legislature and signed by Gov. Daugaard.
The Board of Economic Development, which evaluates the awards, considered 23 grant proposals.
The following grants were approved:
Reinvestment Payment Program (total $771,082):
• Novita Aurora, LLC, Aurora S.D. - $771, 082.
Local Infrastructure Improvement Program (total $694,657):
• Brookings County - $400,000
• City of Sturgis - $244,357
• City of Alexandria - $50,300
Economic Development Partnership Program (total $292,600):
• Belle Fourche Development Corporation - $103,000
• Southern Hills Economic Development Corporation - $56,900
• Bison Area Economic Development Corporation - $32,700
• Grow South Dakota - $100,000
South Dakota Jobs Program (total $28,000):
• Electronic Systems, Inc., Sioux Falls S.D. - $28,000
The Board of Economic Development will evaluate grant applications on a quarterly basis, and those applicants who do not receive grants may reapply. For more information on the Building South Dakota grant programs, and on other financing programs offered through the Governor’s Office of Economic Development, please visit www.sdreadytowork.com.