The South Dakota Governor’s Office of Economic Development (GOED) Board of Economic Development and the Economic Development Finance Authority (EDFA) approved projects that will contribute more than $35 million in capital expenditure and 51 full-time jobs across the state.
Governor Larry Rhoden said the announcement includes investments in targeted industries, including value-added ag and agriculture as a whole, which will help build a brighter future for generations to come.
- The EDFA approved a Beginning Farmer Bond of up to $510,000 for Cody and Codi Kafka to purchase land and start their own farming operation.
- Jameson Peters received approval for a Beginning Farmer Bond of up to $634,000 to purchase tillable farmland in Marshall County.
- Plainview Dairy, LLC was granted approval for a Beginning Farmer Bond of up to $25 million for solid waste management and disposal at the new dairy.
- ESCO Manufacturing received approval for a SD Works Loan of up to $421,880 to support their expansion in Sioux Falls for Stein Sign Display.
- Hidewood Fiber, LLC in Toronto was approved for a SD Works Loan of up to $250,000 to support working capital needs following the acquisition of the business assets and contracts of R&L Splicing.
- Kaylor Agriservices secured a REDI loan of up to $1 million as well as an SD Works loan of up to $1 million for a new soybean roasting facility in Parkston. The project will help the company meet market demands in Southeast South Dakota.
- Hamlin County was awarded a Local Infrastructure Improvement grant of $142,500, not to exceed 26% of eligible project costs, to support road improvements for County Line Dairy’s new 5,000-head facility.
- The Sioux Falls Development Foundation was approved for a Local Infrastructure Improvement grant of $447,769, not to exceed 50% of eligible project costs, for natural gas infrastructure improvements in Foundation Park North.
“It’s exciting to see businesses investing in South Dakota,” said GOED Commissioner Joe Fiala. “This growth is good for our whole state.”
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