State panels make business loans, back dairy bonds

PIERRE, S.D. (KELO) — Two state government panels have taken actions intended to help further spur South Dakota’s economy.

The South Dakota Economic Development Finance Authority on Wednesday morning lent its support to livestock nutrient management bonds of up to $25 million for the new Plainview Dairy near Toronto and up to $4.8 million for expansion of Wildrose Dairy at Brandt. Proceeds from the bonds will be used for solid waste and disposal functions.

An hour later, the South Dakota Board of Economic Development approved six low-interest loans to businesses and a local development organization. Those were:

A $57,300 loan to BibiSol for improvements and buying furniture, fixtures and equipment for a new restaurant in Sioux Falls.

A $364,000 loan to RF Holdings of Watertown to construct a new building and purchase equipment for Active Heating as part of an expansion.

A $426,025 loan to Grant County Development Corporation to purchase vacant land for an industrial park.

A $549,696 loan to JMP Design and Catering in Madison, a newly registered business that plans to construct and furnish an event venue.

A $800,000 loan to Midstates Inc. of Aberdeen to purchase new printing equipment.

A $46,500 loan to Never Too Busy Construction in Lennox to purchase an existing construction business.

The board also agreed to a $423,000 infrastructure improvement grant to the city of Canton for a street extension and infrastructure in the local industrial park and a $1,000 economic development partnership grant to the city of Dell Rapids.

The boards, who share many of the same members, each agreed to also renew their accounting contracts with the Casey Peterson firm.