USDA Uses Grant Funds to Expand Businesses and Create Jobs in South Dakota
Sunday, May 19, 2013
Article By: USDA | South Dakota Rural Development Coordinator Christine Sorensen
Last fall, South Dakota USDA Rural Development highlighted a valuable partner; GROW South Dakota, formerly known as the Northeast South Dakota Economic Corporation, for its 18 year partnership in community lending. While giving back to the communities they serve, GROW South Dakota has also contributed to the region as a whole through its fiscal administrative support of regional planning and development through a Rural Business Enterprise Grant (RBEG) and a Rural Business Opportunity Grant (RBOG).
Said South Dakota State Director Elsie Meeks, “The total impact that GROW has had is not just measured in loans made or jobs created; they have assisted in the stabilization and creation of thriving, vibrant communities in rural South Dakota.” USDA funds have been used to develop and provide web-based technical assistance for the region’s partnering organizations and for a regional website that provides a central link to local organizations and expertise for the current technology and available social media.
By providing industry information, community data, commercial real estate information, and quality of life information, the northeast South Dakota region collectively markets through the South Dakota Prairie Gateway website. Lori Finnesand, Chief Executive Officer for GROW South Dakota, said, “ This regional approach to a website and social media incorporates regional collaboration and shared values while generating benefits and marketing for the people and businesses of our region.”
By August 2012, the nonprofit economic development (ED) corporation had received and implemented 10 Intermediary Relending Program (IRP) loans; impacting 28 different communities, 98 businesses and leveraging $15.6 million in total financial support for start-up and expanding businesses.
And success continues.
Capitalizing on the region’s readiness to work together, those same communities have continued partnering. Sharing their success with the region, GROW South Dakota has provided USDA leveraged funds to further sustain the businesses in their service area as well as support the success of the region for a sustainable future.
Earlier this week, USDA announced that it is accepting applications for Rural Business Opportunity Grants. To find out more click here. To find about USDA’s work in partnership with other Departments to promote manufacturing in rural communities click here.