State board approves $1.4 million of aid to businesses

The South Dakota Board of Economic Development approved a total of $1.4 million in state assistance for projects in Sturgis, Yankton, the Sioux Falls area and Clear Lake, according to a news release Wednesday from the Governor’s Office of Economic Development.

The board approved a $597,275 SD Works loan for IR LLC to support construction of a new location for Rev It Up Espresso in Sturgis. The new facility will allow the locally owned coffee business to expand from its kiosk operations into a permanent storefront with a sit-down cafe, drive-through service, on-site coffee roasting, and an expanded food and merchandise offering. Rev It Up Espresso began in an 8-by-12-foot trailer and has since grown to three kiosks throughout Sturgis.

The board also approved a $320,000 SD Works loan for JBHM LLC to support construction of a new facility for Elwood Family Dental Care in Yankton. The expansion will allow the practice to add a second dentist and operate five days per week. The project is expected to grow the practice from eight to 16 full-time equivalent positions.

A $10,000 Economic Development Partnership Program grant was awarded to Sioux Metro Growth Alliance, based in Sioux Falls, to support its Leadership Sioux Metro Regional Economic Development Training Initiative. The program will provide training in areas including business retention and attraction, site readiness, housing and development, workforce, development finance, and regional collaboration.

The board approved a $500,000 Local Infrastructure Improvement Program grant for Clear Lake Area Development to support construction of a water tank and pump station. The infrastructure will strengthen the water system serving the Clear Lake community and provide the water supply and fire protection necessary to support an expansion by the company Tech Ord, which produces detonating and explosive components and materials for the military.

The SD Works, Economic Development Partnership, and Local Infrastructure Improvement programs provide financing and grants that support business growth, economic development capacity, and infrastructure investments. They are available to businesses and organizations that meet program requirements established in state law and by board policy.