PIERRE The Governors Office of Economic Development Board of Economic Development approved three loans at this months meeting. Financing for these projects will reflect a capital investment of approximately $6.5 million. An additional 14 full-time jobs will be created.
This financing allows two more local businesses the ability to grow in South Dakota, said Deputy Commissioner Jesse Fonkert. I am proud that our office can play a role in their success.
Dakota Automation Properties LLC of Watertown was approved for a Revolving Economic Development and Initiative (loan in the amount of $1,965,038. They were also approved for a SD Works loan for $982,519. These loans will allow Dakota Automation to build a new, larger capacity building to accommodate their growth and expansion.
Borns Group Inc. of Aberdeen, a professional mailing and marketing business, was approved for a SD Works loan in the amount of $530,000 for working capital.
Leave a Reply