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Welcome to South Dakota on Business Facilities Online

SOUTH DAKOTA Fast Facts

• Population (2006): 781,919
• Largest Cities (2006): Sioux Falls, 142,396; Rapid City, 62,715; Aberdeen, 24,071; Watertown, 20,526; Brookings, 18,802
• Targeted Industries: Value-added agriculture, manufacturing, financial services, transportation, and international trade

• Key Incentives: SBA 504 Loan Program, Agricultural Processing and Export Fund, Revolving Economic Development and Initiative Fund, Value-Added Agriculture Subfund, MicroLoan South Dakota Loan Program

SOUTH DAKOTA State Incentives

The SBA 504 Loan Program offers subordinated, fixed-rate financing to healthy and expanding small businesses. The program offers long-term, fixed-rate financing and is available for fixed asset purchases including land, buildings, new construction, and equipment with a life of 10 years or more. The SBA 504 recognizes the financial risk of start-up businesses and single purpose facilities and is willing to participate in these ventures; however, an equity injection of 10% to 20% may be required over and above the initial 10% equity injection requirement.

The Value-Added Agriculture Subfund is a $3 million fund that was created to help fund feasibility and marketing studies for prospective value-added agriculture business. The goal is to find niche markets that will add value to South Dakota agriculture commodities; to help fund marketing and feasibility studies; and to help assemble the right people, capital, and labor for a successful project.

The Microloan South Dakota Loan Program makes loans available to small businesses within the borders of South Dakota and to South Dakota residents, including main street and retail operations, for working capital, equipment, real estate, or other fixed-asset project costs.

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