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The Board of Economic Development may provide reinvestment payments to assist companies in offsetting the upfront costs associated with relocating or expanding operations and/or upgrading equipment in South Dakota. The program allows for project owners to receive a reinvestment payment, not to exceed the South Dakota sales and use tax paid on project costs, for new or expanded facilities with project costs in excess of $20,000,000 or for equipment upgrades with project costs in excess of $2,000,000.
Companies pursuing new or expanded facilities with a total project cost in excess of $20,000,000 or equipment upgrades with a total project cost in excess of $2,000,000 are eligible to apply to the Board of Economic Development for a reinvestment payment under this program. One of the key criteria considered by the board when approving or denying an application is the likelihood the project would have occurred without the reinvestment payment. Reinvestment payments are intended for projects that would not have occurred without the payment. The following projects are not eligible for a reinvestment payment:
For complete details, including eligibility requirements and application process, click here.