The South Dakota Board of Economic Development approved funding for projects expected to generate more than $115 million in capital investment and create 74 new full-time jobs across the state.
The board approved the Reinvestment Payment Program application of AMTEC Corporation for a reinvestment payment of up to $2,434,648, but not to exceed 75 percent of the actual state sales and use tax paid on eligible project costs.
Tech Ord, a division of AMTEC Corporation, has operated in Clear Lake since 1988. The company celebrated the groundbreaking for the expansion in June, marking another milestone in South Dakota’s growing role in defense manufacturing and national security. The project will construct and equip a modern automated ammunition production facility, including warehousing, production support infrastructure, and quality assurance capabilities.
The Board also approved a $309,000 SD Works loan for JL3L, LLC, operating as Quality Nut & Bolt Company of Sioux Falls. The loan will assist with the purchase of a completed building to support the company’s continued growth and operational needs.
A SD Works loan of $250,000 was approved for Madison Family Dental to support construction and equipping of a new dental facility. The expanded clinic will increase patient capacity, improve workflow, incorporate updated technology and enhance dental services for Madison and surrounding rural communities while creating eight full-time jobs.
The board also approved a South Dakota Jobs Program grant of up to $214,465 for Dakota Metal Recycling in Huron. The project will support construction of South Dakota’s first integrated metal collection, shredding, and sorting facility, providing a local processing option for recycling companies that currently ship materials to Iowa and Nebraska. The facility will purchase metal from recyclers across the state, process ferrous and non-ferrous materials for resale, and produce a byproduct suitable for landfill cover.
In addition, the board approved Economic Development Partnership grants of up to $7,500 for Ally Dakota Development, Inc. to support the International Economic Development Council Basic Economic Development Course and $6,000 for Elevate Rapid City to support the International Economic Development Council Centennial Summit. Both programs strengthen professional economic development capacity and support continued growth across South Dakota communities.
“These investments reflect South Dakota’s commitment to supporting growth at every level by helping local businesses expand, improving access to healthcare, strengthening our defense manufacturing industry and investing in the professionals who help communities succeed,” said GOED Commissioner Bill Even. “Together, these programs help ensure South Dakota remains competitive and positioned for long-term economic success.”
The Reinvestment Payment Program, SD Works, and Economic Development Partnership programs provide financing, workforce development and incentives that support business expansion, private investment and community growth across South Dakota. Available to qualifying businesses and organizations that meet program requirements established in state law and board policy, these programs help create jobs, encourage investment and strengthen South Dakota’s economy.
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