Board takes action at monthly meeting

PIERRE, SD – The South Dakota Governor’s Office of Economic Development (GOED) Board of Economic Development and the Economic Development Finance Authority (EDFA) took action at their meetings this month. The Board of Economic Development approved two loans at this month’s meeting:

• A SD Works loan for $1,012,500 was approved for Engineered Concrete Products, LLC of Rapid City, for the purchase of equipment; and,
• A REDI loan for $1,192,500 was approved for TTL Holdings, LLC of Rapid City, for construction and expansion of existing facilities and infrastructure.

EDFA approved a resolution to start the process towards a future Private Activity Bond issue for up to $187 million of qualified solid waste management facility expenses for Gevo Net-Zero 1, LLC in Kingsbury County. This financing will be used to pay for the costs of facilities of both sewage and solid waste disposal. EDFA acts only as a conduit between the applicant and financing agencies. These bonds do not carry any financial risk to the State of South Dakota. The GOED provides financing and incentives to meet the needs of both new and existing companies. For more information, go to http://sdgoed.com/partners/financing-incentives/.