By Scout Nelson
South Dakota's state government recently approved financial aid for three businesses in diverse sectors. At the heart of this initiative is the aim to enhance agricultural practices and manufacturing capabilities within the state.
The first nod of approval came from the state Economic Development Finance Authority, which agreed to a substantial bond for County Line Dairy.
This bond, reaching up to $12.5 million, is designated for a livestock-nutrient management project in Hamlin County.
The decision followed a public hearing that gathered community insights and opinions, ensuring transparency and public involvement.
The state Board of Economic Development green-lighted low-interest loans for two other businesses, demonstrating the state's commitment to fostering economic growth across different industries.
Centerville Manufacturing, known for its engineering prowess and metalwork, received a $675,000 loan. This financial support aims to enhance the company's capabilities in laser cutting and metal forming, further establishing its presence in Turner County.
Southern Sun, a Huron-based company that specializes in processing edible sunflower seeds, was granted a financial package consisting of two loans.
This package totals nearly $3 million and supports the company in marketing its products under the Wild Dutchman brand.
Through these measures, South Dakota not only supports the economic development of its local businesses but also promotes the state as fertile ground for agricultural and manufacturing innovation.
Photo Credit -pexels-karolina-grabowska
Categories: South Dakota, Business, Government & Policy