A Pierre-based transit company has received a loan to help purchase space for it’s offices and fleet of vehicles in Sioux Falls.
A Governor’s Office of Economic Development Board approved (Aug. 14, 2024) the South Dakota Works Loan of up to $375,000 for River Cities Public Transit. Community Coordinated Transportation Systems, doing business as River City Transit, will use the money to buy a permanent location in Sioux Falls for housing transportation vehicles and office space.
The GOED board also approved grants for companies doing projects in Yankton and Sioux Falls. All three projects combined create a capital investment of approximately $760 million and 664 jobs.
Two companies have been approved for the Reinvestment Payment Program.
- Parker Hannifin of Yankton, a manufacturer and distributor of aftermarket filtration products for engine mobile applications, was approved for a Reinvestment Payment Program (RPP) of up to 50%, but not to exceed $100,219, of the state sales and use tax they will pay as a part of the project. The company plans to construct a new can-making line (CML) to meet increasing product demand. This line will produce steel cans for filters, and the project will create an estimated 14 new full-time positions.
- SFC Global Supply Chain, Inc. will build a new manufacturing plant and regional office in Sioux Falls. They have been approved for an RPP grant of up to 100% of the state sales and use tax paid on their $750 million dollar project. The new manufacturing facility will produce Asian-style foods with state-of-the-art automated production lines, marking the company’s first facility in South Dakota and providing an estimated 650 full-time positions.
Comments