Board of Economic Development takes action at monthly meeting

SIOUX FALLS, SD – The Governor’s Office of Economic Development (GOED) Board of Economic Development approved multiple funding applications at its meeting today.

The following action was taken:

• A grant application of $184,500 was approved through the Reinvestment Payment Program (RPP) for Maguire Iron Inc. of Sioux Falls. Funds will be used to help with the construction of their new facility, office, and shop.
• The City of Box Elder was granted a one-year extension on their Local Infrastructure Improvement Program (LIIP) grant in the amount of $240,125.
• Intraglobal Biologics, Inc. (IGB) of Sisseton was approved for loan forgiveness in the amount of $117,617 for their Value Added Sub Fund (VASF) loan.