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When jobs fall short, REDI loan recipients face financial penalty

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PIERRE — The state Board of Economic Development adopted a new policy Tuesday for businesses that receive low-interest state loans for projects but don't fulfill their job-creation agreements.

The board now will require that a business pay back the remainder of its loan at prime interest rate plus 2 percent.

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Bob Mercer
Bob Mercer reports from the South Dakota Capitol in Pierre for The Daily Republic and other newspapers around the state.
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