The South Dakota Governor’s Office of Economic Development (GOED) Board of Economic Development and the Economic Development Finance Authority (EDFA) have approved projects totaling over $88 million in capital investment at their monthly meetings.
Plainview Dairy LLC, located near Toronto, SD, has received approval for up to $25 million in bonds to build structures for effective manure management. This investment is part of a larger capital investment of over $121 million that is expected to create 148 full-time jobs. The bonds are part of the Livestock Nutrient Management Bond program, which issues tax-exempt bonds to local banks that set the repayment terms and interest rates for the company borrowing the money.
Additionally, Plainview Dairy has been approved for a Reinvestment Payment Program grant of up to 51% of actual state sales and use tax, not to exceed $1,530,000. The dairy plans to build a new 10,000-head facility in Deuel County.
“These investments showcase South Dakota’s commitment to economic growth,” said GOED Commissioner Joe Fiala. “We are excited to support local businesses like Plainview Dairy LLC and look forward to their contributions to our state’s economic landscape.”
Other approved projects include a Beginning Farmer Bond application for Jameson Peters of up to $600,000 to purchase 136.7 acres of tillable farmland in Marshall County and a $500,000 SD Works loan awarded to Stay-n-Play LLC to construct Meadow Ridge Pet Lodge, an upscale pet daycare facility in Rapid City.
You can now read the most important #news on #eDairyNews #Whatsapp channels!!!
🇺🇸 eDairy News INGLÊS: https://whatsapp.com/channel/0029VaKsjzGDTkJyIN6hcP1K
