The Governor's Office of Economic Development (GOED) Board of Economic Development approved multiple funding applications at its monthly meeting.
The following Revolving Economic Development and Initiative (REDI) action was taken:
- A $2,500,000 loan was approved for Watertown Development Company for a new manufacturing facility.
- A $583,500 loan was approved for Phase Technologies of Rapid City for equipment.
The following Reinvestment Payment Program (RPP) action was taken:
- Brookings Biogas, LLC of Brookings and Deuel Counties was approved for $1,710,821.63 to construct an anerobic digestor plant.
- Gevo Net-Zero 1, LLC of Lake Preston was approved for $12,294,059 to construct a renewable fuel processing facility.
- Lakeside Biogas, LLC of Grant County was approved for $1,160,085.14 to construct an anerobic digestor plant.
- Phase Technologies, of Rapid City was approved for $54,000 for its sheet metal manufacturing equipment upgrades.
The GOED provides financing and incentives to meet the needs of both new and existing companies. For information, go to https://sdgoed.com/partners/financing-incentives/.
Categories: South Dakota, Business, Equipment & Machinery, Government & Policy