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Press Release

Economic Development Boards Take Action

July 10, 2024

PIERRE, SD – The Governor’s Office of Economic Development Board of Economic Development and Economic Development Finance Authority approved two loans, one grant, and authorized four bond resolutions. The projects represent a total capital expenditure of over $236 million and 119 new jobs.

JH Investment in Vermillion was approved for a Revolving Economic Development Initiative (REDI) loan in the amount of $6,750,000. Masaba, Inc. will use the loan to construct a new fabrication facility. They were also approved for a Reinvestment Payment Program grant of up to $315,000.

The Sweat Zone in Aberdeen was approved for an SD Works Loan of $106,172. The loan will be used for building and equipment for the new company.

Four companies were authorized for Livestock Nutrient Management Bonds to construct plants to convert feedlot manure into renewable natural gas. Each company was recognized for receiving an allocation of up to $20 million for which a bond issue will later be requested. The four companies include:

  • Brookings Biogas, LLC, Hamlin and Brookings Counties;
  • Lakeside Biogas LLC, Roberts County;
  • Rovilla RNG, LLC: Five Shots RNG, LLC, Lincoln County; and
  • Rovilla RNG, LLC: Moccasin Creek RNG, LLC, Brown County.

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