The state of South Dakota offers several financing incentives to assist your business in growth and development. Explore your options below to learn how your business can prosper in South Dakota!
The state’s CDBG program is funded through an annual formula allocation from the US Department of Housing and Urban Development (HUD). The program allows the state to fund a variety of different projects in small cities and rural areas. All projects must meet one o...
Internships are a great way to help fill your temporary workforce needs and establish a pipeline for permanent employees. Internships also enhance a student’s education by providing work experience in their chosen career pathway.
To promote internships, the Dakota Seeds Program can provide 50% of th...
South Dakota's Economic Development Finance Authority (EDFA) offers a pooled loan program. The program, designed for capital-intensive projects, provides small businesses access to larger capital markets for tax-exempt or taxable bond issuances. Projects can be funded individually or pooled to help lower the cost o...
This program provides matching grants to assist in funding equipment and training needs, new staff, or to elevate existing part-time staff, for the purpose of developing or expanding local and community economic development programs. Economic Development Partnership Grants may also be used to commence o...
This program provides grants to assist in funding the construction or reconstruction of infrastructure for the purpose of serving economic development projects.
Local Infrastructure Improvement Program:
Provides grants to assist in funding the construction or reconstruction of infastructure for the purpose of economic development
Eligible for any politica...
The Proof of Concept Fund is a loan program that will provide up to $25,000 investments for eligible applicants to conduct research demonstrating the technical and economic feasibility of an innovation significantly enhancing the likelihood of commercialization of the innovation.
Proof of Concept Fund:
Provide up t...
The Board of Economic Development may provide reinvestment payments to assist companies in offsetting the upfront costs associated with relocating or expanding operations and/or upgrading equipment in South Dakota. The program allows for project owners to receive a reinvestment payment, not to exceed the Sout...
Giving new meaning to the phrase "ready, willing and able." The REDI (Revolving Economic Development and Initiative) Fund is designed to help promote job growth in South Dakota. This low-interest loan fund is available to start-up firms, businesses that are expanding or relocating and local economi...
The SBA 504 loan program offers subordinated, fixed rate financing to healthy and expanding small businesses. Long-term, fixed rate financing (10-20 years) and reasonable rates (near long-term U.S. Treasury bond rates), make the SBA 504 an attractive and effective economic development financing tool.
The MicroLOAN South Dakota Loan Program is a partnership with the South Dakota Development Corporation, and Governor's Office of Economic Development. These loans are made available to small businesses within the borders of South Dakota and South Dakota residents, including main street and retail operations...
This program is available to assist companies in offsetting the upfront costs associated with relocating or expanding operations and/or upgrading equipment in South Dakota. The program allows for project owners to receive a South Dakota Jobs Grant for new or expanded facilities.
South Dakota Jobs Program:
South Dakota WORKS is the newest financing program in the Governor’s Office of Economic Development (GOED). The federally funded program, launched in October of 2011, provides South Dakota small businesses with working capital funds.
South Dakota WORKS:
Offers commercial loans to businesses that need working capital
The State Trade Expansion Program (STEP) mission is to increase the number of U.S. small business exporters and increase their export sales.
The STEP program can reimburse a portion of a company's eligible cost for the following:
Attending international trade shows, international sales trips and select domesti...
When it comes to training, South Dakota puts its money where its mouth is. Through the Workforce Development Program, companies have access to dollars to help train new AND existing employees.
Workforce Development Program:
Provides matching grants to assist companies with up to 50 percent of eligible trainin...