State government boards approved $20.64 million in bonds, loans and grants to private businesses and communities during meetings this month.
Members of the Board of Economic Development and Economic Development Finance Authority are appointed by the governor. The bond, loan and grant programs are administered by the Governor’s Office of Economic Development.
A press release from the Governor’s Office says the projects funded by the bonds, loans and grants are projected to create 336 new jobs.
The following is a list of the projects receiving funding.
- County Line Dairy, LLC: This is a large dairy in northeast Hamlin County with 5,000 cows. It was approved for up to $12.5 million in bonds to help build structures to manage cow manure.
- Borns Group, Inc.: A family-owned marketing business in Aberdeen, Borns Group received a loan of $1.57 million to help buy new equipment.
- Dark Canyon Coffee: This coffee roasting company in Rapid City serves five states, including South Dakota, and was approved for a $60,000 loan to expand and buy new equipment.
- Convenience store in Pickstown: Two loans totaling $245,000 will support the purchase and improvement of an existing convenience store in Pickstown. This will include remodeling and buying new equipment. The first loan will be made to MaSco8 LLC for $115,000 for remodeling the facility and expansion of the existing building. The second will go to Gus Stop 8 for $130,000 to purchase new equipment.
- DeSCO Architectural, Inc.: Based in De Smet, this company makes aluminum windows and got a loan of $34,366 to buy automated equipment for increased production.
- S&S Ag Supply, LLC: A seed cleaning and treatment company in Hurley, it received a $358,384 loan to move to a new facility.
- Local Infrastructure Improvement Program (LIIP) Grants: Three communities received $500,000 each to expand their industrial parks. The communities are the cities of Viborg and Corsica and the Lake Area Improvement Corporation in Madison.
- Red Rock Real Estate, LLC: In Centerville, this company will build a new milk processing plant near a dairy farm. It was approved for a program refunding $1.09 million of the sales and use tax it pays for the project. The plant will process about 1.8 million pounds of milk daily.
- Sonstegard Foods: This company will build a new egg-laying facility in Turner County with a $3.28 million grant. The facility will have five barns for 1.25 million chickens, a manure barn, a processing facility, a feed mill, and a pullet site.