Action taken at monthly board meeting

SIOUX FALLS, SD – The Governor’s Office of Economic Development (GOED) Board of Economic Development approved four applications at its meeting on Wednesday, Dec. 14.

The following action was taken:

• Mitchell Area Development Corporation was approved for a grant of $362,500 through the Local Infrastructure Improvement Program (LIIP). The funding will assist infrastructure extension, including water and sewer utilities of 15^th Avenue in Mitchell.
• Manitou Equipment of Madison and Yankton was approved for a grant of $1,085,630 through the Reinvestment Payment Program (RPP). The funding will assist with business expansion.
• Brian Miller of BJ’s Foods, Kennebec, was approved a SD Works loan in the amount of $31,000. Financing will help cover the costs of completing a new warehouse storage facility and other improvements.
• Roto Mold, LLC, of Tea, was approved for a Revolving Economic Development and Initiative (REDI) Fund loan. The $1,085,088 will be used for manufacturing equipment and building construction.

“Helping communities and businesses grow in South Dakota is something we are committed to, and I am proud that we can assist these four businesses,” said GOED Commissioner Steve Westra.

GOED provides financing and incentives to meet the needs of both new and existing companies. For information, go to https://sdgoed.com/partners/financing-incentives/.