PIERRE, S.D. (KELO) — A South Dakota board has agreed to give back some of the state sales and use taxes collected for two business expansions.
Both are in North Sioux City.
Royal Canin US will receive a reinvestment payment of 50%, up to $3,950,145, of sales and use taxes paid for its building expansion and new production line.
Red’s All Natural will get a reinvestment payment of 50%, up to $167,625, of sales and use taxes paid for equipment purchases.
The South Dakota Board of Economic Development made the decisions this week. The payments will come from the state Department of Revenue.
Reinvestment payments are one of the incentives offered by the South Dakota Governor’s Office of Economic Development.