State economic development loans approved for businesses in Fort Pierre and Platte

Businesses in Fort Pierre and Platte have been approved (Sept. 11, 2024) to each receive a loan to from the South Dakota Governor’s Office of Economic Development.

Morris, Inc. in Fort Pierre will use a $600,000 South Dakota Works loan to replace a nearly 50-year-old redi-mix plant with new technology. This upgrade will increase production by 150% and reduce production time by 50%. This project has a projected $2.4 million capital expenditure and will bring on seven full-time employees.

In Platte, a $400,000 SD Works Loan to CCLLA, LLC, will be used to build a new 3300-plus-square-foot facility for Platte Dental Clinic. The building will include six treatment offices, with plans to hire a new dentist. The project has an expected capital expenditure of $1.7 million and will create six full-time jobs.

GOED (go-ed) Commissioner Joe Fiala says South Dakota’s diverse business landscape– from brick manufacturing to dental care– continues to thrive. He says the approved projects showcase the entrepreneurial spirit driving the state’s economy.

The is week’s approvals from GOED include three SD Works loans, two Revolving Economic Development and Initiative fund loans, and one Local Infrastructure Improvement Program grant.

Other approved projects are:

• Hebron Brick Supply Co. is building a new location in Rapid City, allowing them to own their property and expand services. The clay manufacturing business was approved for an SD Works Loan of $1,242,400. This project has an estimated capital expenditure of $6 million and is expected to create seven full-time positions.
• The City of North Sioux City has been approved for a $300,000 LIIP grant for the reconstruction of North Shore Drive, a main access road to Dakota Valley School and multiple businesses. The project will rebuild water mains, storm sewers, sanitary sewers, and the roadway itself, with an estimated cost of $1.6 million.
• SFC Global Supply Chain Inc., a subsidiary of Schwans Company, has been approved for a total of $25 million in REDI fund loan dollars. The new manufacturing facility will have state-of-the-art automated production lines designed to produce Asian-style foods and will be the company’s first facility in South Dakota, providing an estimated 650 full-time positions and a total of $750 million in capital expenditure.