PIERRE, S.D. — The South Dakota Board of Economic Development approved funding for two projects Tuesday expected to generate a combined nearly $10 million in investment and create about 29 new jobs across the state. The funding approvals, while not directly impacting the Rapid City or Black Hills region, highlight continued statewide economic growth.
Governor Larry Rhoden stated that the approvals show South Dakota is “Open for Opportunity” and is helping that opportunity grow “in every corner of the state.”
The approved projects are:
- Cypress Rail Solutions, LLC, in Vermillion, was approved for an SD Works Loan of $769,724. The funds will be used to purchase and renovate a facility for railcar repair, with the business planning to service 15 to 25 cars each week.
- Dakota Specialty Solutions, LLC, in Canton, was approved for an SD Works Loan of $900,000. This funding will support the construction and equipping of a new 27,000-square-foot facility for manufacturing and packaging agricultural products and providing warehouse space.
GOED Commissioner Bill Even commented that the projects “highlight the diversity and strength of South Dakota’s economy,” supporting two critical industries, transportation and agriculture. The investments, he said, will create good jobs and drive steady growth in local communities.