CLEAR LAKE, S.D.- Grow South Dakota and the United States Department of Agriculture (USDA) Rural Development agency have been working together for about three decades, helping boost housing and business development in the Mount Rushmore State.
USDA Rural Development recently granted Grow SD with $750,000 in program funding, allocating more resources to the non-profit to continue its work.
The two organizations celebrated that announcement at Ages and Stages Daycare in Clear Lake, after the business’s new owner worked with Grow SD and its partners to keep the center running and pay staff.
Owner Hailey Freeman said that capital is crucial for her, as she’s only owned the business for a few weeks, and for her staff especially.
“This is definitely a huge thing for them. I hope in the future that we can help other daycares, like my own center. They need some support,” Freeman said.
USDA Under Secretary for Rural Development Basil Gooden said his agency is always looking for partners to help advance businesses like Ages and Stages, and said Grow SD has been a reliable partner in South Dakota to do so. Affordable childcare is just as important to them as affordable housing, something that works hand-in-hand.
“We hear a lot about the need for affordable housing. But right next to that is the need for childcare, daycare, because people want to go to work. People want to take advantage of opportunities,” Gooden said.
In total, Grow SD has received around $22 million in funding through different programs before the announcement on Thursday. But with partnerships, CEO Lori Finnesand said they’ve been able to stretch that money to even more causes.
“We actually took the $22 million, and we’ve been able to finance over $49 million in loans to over 700 small businesses across the state of South Dakota. That actually has created or retained over 4,000 jobs,” Finnesand said.
Finnesand said this additional funding will help them help more small businesses, like Ages and Stages Daycare, and help their communities as well.
