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GOVERNOR’S OFFICE OF ECONOMIC DEVELOPMENT BOARD APPROVES $55 MILLION BOND AND $155,000 LOAN

The Governor’s Office of Economic Development (GOED) Board of Economic Development and the Economic Development Finance Authority (EDFA) took action during their recent meeting, granting approval for an up-to $55 million bond and a $155,000 loan. These financial investments total nearly $191 million and are expected to result in the creation of 102 full-time jobs in South Dakota.

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GROWTH IN SOUTH DAKOTA

“South Dakota is experiencing economic growth, particularly within the agricultural industry and small businesses,” stated Governor Kristi Noem. “The Office of Economic Development is committed to supporting these businesses in achieving success.”

Riverview LLP of Kingsbury County has requested a Livestock Nutrient Management Bond issue for up to $55,000,000. This funding will cover qualified tax-exempt expenses related to the acquisition, site preparation, and solid waste management for their dairy operation. The Kingsbury County Dairy facility will house 15,000-20,000 milking cows and is projected to bring in 100 full-time employees.

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EXPANSION AND SUPPORT

SWAT Properties LLC of Yankton has been approved for a $155,000 SD Works loan. The funds will be used to construct a new facility for SWAT Chiropractic and Rehab, which will include clinic and gym space, with provisions for future expansion. This project will result in the addition of two full-time employees.

Deputy Commissioner Chris Schilken emphasized the importance of providing financial support to businesses across the state to foster growth and success. The Office of Economic Development plays a crucial role in supporting the expansion and development of businesses in South Dakota.

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