The Revolving Economic Development and Initiative (REDI) Fund is designed to help promote job growth in South Dakota. This low-interest loan fund is available to start-up firms, businesses that are expanding or relocating, and local economic development corporations.
The REDI Fund provides up to 45 percent of a project’s total cost. Companies should secure interim (construction) financing, matching funds for permanent financing and be able to provide a 10 percent minimum equity contribution before applying to the Board of Economic Development for a REDI Fund loan.
For complete REDI Fund details, including eligibility requirements and application process, click here.
Pursuant SDCL 1-16G-10, the Board of Economic Development is required to produce an annual informational report demonstrating fiscal year activity. The annual report is submitted by November 1 of each year.
For the purposes of keeping the general public better informed about the action taken by the Board of Economic Development, the Board provides a calendar year report of activity for public review.