User uShare Login | Register
Login
Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.


64° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

KELOLAND.com | Sioux Falls News & Weather, South Dakota News & Weather, Minnesota and Iowa News

[0] My Saved Articles
Back to all news

Politics

Find local businesses
on the KELO Pages!

 

Voters Will Decide On Millions To Lure Companies

September 18, 2012, 5:58 PM by Ben Dunsmoor

Voters Will Decide On Millions To Lure Companies
SIOUX FALLS, SD -

Should South Dakota set aside about $16 million every year to recruit businesses to the state, or should that money go to school districts, health care providers and roads?

It's an important question voters will answer in November.

The ethanol plants dotting South Dakota's landscape and the cheese factories opening up in the state can be tied to construction tax breaks, according to South Dakota Chamber of Commerce President David Owen.

"We would not have an ethanol industry without incentives and refunds. We wouldn't have any wind towers in South Dakota without incentives and refunds and all of those programs are part of billions of dollars in direct payments to South Dakota," Owen said.

Referred Law 14, which is on the South Dakota ballot this fall, creates what's being called a 'Large Project Development Fund' to continue attracting those businesses.

The fund will set aside more than 20 percent of the taxes collected from contractors every year to provide incentives to companies to bring their business to South Dakota.

Sioux Falls Development Foundation President Slater Barr says something like this is needed to keep up with other states.

"States all over the country are out there putting their best foot forward, offering them incentives to induce them to come to their community. We need the same if we are going to become competitive," Barr said.

Opponents of the fund say South Dakota already has a business-friendly environment and this money would be better spent in the state.

"We have no corporate income tax.  We have a very motivated and, frankly, low-wage workforce.  We have very anti-union laws set up so by any measure a corporation should be excited to do business in South Dakota regardless of if there's any extra money on the table for them," South Dakota Democratic Party Chairman Ben Nesselhuf said.

Nesselhuf opposes the law and thinks the money should stay in the general fund to support schools, infrastructure and health care.

"I strongly believe we should support South Dakotans first not large out-of-state corporations," Nesselhuf said.

And it's South Dakotans who will be the ones who get to decide where the millions are spent this fall.

If passed, the South Dakota Board of Economic Development will be in charge of handing out the grants.

Projects have to be more than $5 million to be eligible.
 

Previous Story

Next Story


Comments





Sponsored
Find Local Businesses on KELO Pages!

View politics

You may also like

South Dakota Senate Majority Leader Resigns

4/1/2015 8:51 AM

Sen. Tim Rave (R-Baltic) announced Wednesday that he is resigning to accept a position with Sanford Health.

Full Story
Lawmakers To Gather In Pierre To Consider Governor's Vetoes

3/28/2015 12:05 PM

State lawmakers are set to consider reviving the three tax-related proposals that Gov. Dennis Daugaard vetoed after the 2015 legislative session's...

Full Story
Senate Overrides Veto Of Electric Cooperative Tax Proposal

3/30/2015 11:04 AM

The South Dakota Senate has voted to override the governor's veto of a measure that would have slightly reduced the amount of tax burden on rural ...

Full Story
Sioux Falls School Start Date Voting Begins

3/30/2015 5:59 PM

Should Sioux Falls schools start in August or after Labor Day? That's the question voters can now start answering.

Full Story | Watch
Early School Start Bill Heading To Branstad For Approval

3/31/2015 11:14 AM

Iowa schools will be able to start the upcoming academic year no earlier than Aug. 23, under a compromise bill that is now headed to Gov. Terry Branst...

Full Story


Events