S.D. board OKs grants, loan to businesses

Capitol News Bureau
KELO pierre capitol building

PIERRE, S.D. (KELO) — Several more businesses saw their requests for a low-interest loan or grant get the green light from the South Board of Economic Development.

The board Wednesday okayed a reinvestment payment to Millborn Seeds for an expansion of its Brookings operation. The payment is for $41,352 but not to exceed 50% of state sales tax paid on eligible project costs.

The board also approved a South Dakota Jobs payment to tactical-gear maker Cole-TAC for its new Rapid City plant. The payment is for $7,477.14 but not to exceed 50% of state sales tax paid on eligible project costs.

Last month the board agreed to make a $4.5 million low-interest loan to food manufacturer Albany Farms, based in Los Angeles, California, for a plant at Belle Fourche.

The board also approved two reinvestment payments to Brightmark, a Los Angeles, California-based waste management company, for anaerobic digester systems that recover natural gas from animal manure. The Full Circle project in Turner County gets a $386,459 payment, while the Mill Valley project in Grant County receives a $193,229.50 payment, but not to exceed 50% of state sales tax on eligible project costs.

The board okayed a South Dakota Jobs payment to food maker Red’s All Natural, based in Franklin, Tennessee, for a project in North Sioux City. The $13,837.50 payment can’t exceed 75% of state sales tax paid on eligible project costs.

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