Mitchell corporation gets state grant
PIERRE -- A Mitchell corporation was among grant recipients Tuesday from the state Board of Economic Development.
The board made a $139,502 grant for staff funding to the Mitchell Area Development Corp., a $200,000 grant to the Glacial Lakes Area Development group's revolving loan fund at Britton and an $84,000 grant for staff funding to the Brookings Economic Development Corp. Two infrastructure grants won approval from the board. Tyndall will get $100,000 and Gregory will get $150,000.
The board denied infrastructure grants of $137,000 sought by Parkston and $225,000 sought by Tea Economic Development Corp.
Also on Tuesday, three business projects in eastern South Dakota received approval for $4 million in low-interest government loans. The money comes the state Revolving Economic Development Initiative fund.
DBI Holdings Inc. will get a REDI loan of $2,178,000 to acquire a manufacturing building at Watertown and build an addition of 45,000 square feet.
Total cost for the DBI project is $4,941,112 and the equivalent of 115 full-time jobs would be created. Dakota Bodies Inc. makes work-truck bodies, parts and accessories.
JMo Holdings Inc. won approval for a REDI loan of $1,125,000 for purchasing land and constructing a building at Dakota Dunes for an information technology business.
Total cost for the JMo project is $2,500,000, and 57 jobs are expected to be created.
Rosenbauer South Dakota will get a REDI loan of $990,000 for an expansion of its fire-truck manufacturing facility at Lyons. The project will add 22,500 square feet. Total cost is $2,628,141 and 30 new jobs are expected.
A fourth company received an additional REDI loan. Satern Properties of North Sioux City received the board's approval in May for a $220,000 loan. The board loaned another $27,500 to the company Thursday.
Satern is purchasing a building of 10,000 square feet for office space and manufacturing.
The board also approved training reimbursements for Brookings, Lake Area (Watertown) and Canton economic development personnel.