Freedom Works Here.
PIERRE, SD – The Governor’s Office of Economic Development (GOED) Board of Economic Development and the Economic Development Finance Authority (EDFA) took action at this month’s meetings, approving one request for up to $8.7 million in tax-exempt qualified bonds and approving three loans totaling over $3.2 million. These projects reflect a capital investment totaling over $44.5 million and will bring a projected 185 full-time jobs to South Dakota.
“GOED is thrilled to work with such a diverse group of businesses who are looking to expand and grow in South Dakota. By assisting in the funding of these four projects, businesses across multiple industries will benefit,” said GOED Commissioner Chris Schilken. “South Dakota will continue attracting new businesses and working within our communities to help existing businesses grow and thrive.”
EDFA took action to approve the Inducement Resolution of Silverstreak Dairies LLP – Warner Dairy. The Warner Dairy applied for a Livestock Nutrient Management Bond to finance the expansion of their current operations. After the completion of this $32 million expansion, the operation will double the number of milking cows, and will add a projected five new full-time employees. Up to $8,740,000 in tax-exempt qualified expenses will be focused on updates that use available technologies for the modernization of barns, equipment, facilities, and solid-waste management. This dairy will be located on the existing Warner Dairy site.
Meridian Holdings, LLC of Yankton was approved for a SD Works loan of $810,000. A full-service event hosting business, Meridian Holdings, LLC will specialize in weddings and parties while operating a full bar and custom meals for its clients. Funding will aid in the purchase of four properties. A projected 14 full-time employees will be added from this new business.
Sentry LLC of Watertown was approved for a Revolving Economic Development and Initiative (REDI) loan for $1,275,000 and a SD Works loan for $637,500. This funding will help with the acquisition and installation of equipment for offices and workspaces. A projected 106 full-time jobs will be created.
Hairy Cow Brewing, LLC of Box Elder was approved for a SD Works loan of $501,924. Funding will assist with equipment costs for the company that is planning to relocate from Illinois. Once complete, this family-friendly craft brewery and restaurant are projected to created approximately 60 full-time jobs.
