Two business projects get large incentives from state
PIERRE — Two business projects deserve large awards of money from state government because they made large investments in South Dakota, the state Board of Economic Development decided Tuesday.
Day County Wind II will get a reinvestment payment of $4,419,600. The board limited the amount to a maximum 75 percent of the state sales and use tax paid on eligible project costs.
Hansen Manufacturing Corp., of Sioux Falls, will get an equipment upgrades reinvestment payment of $294,543. The amount can't exceed the state sales and use tax paid on the eligible equipment costs.
The state board discussed the two applications in closed-door session and took the votes in open session.
In each instance the board's motion stated "the likelihood the project would not be located in South Dakota" without the reinvestment payment.
Florida-based NextEra Energy owns several Day County wind farms. Hansen Manufacturing produces Hi Roller-brand enclosed belt conveyors.