South Dakota Ag Connection - $345,995 in South Dakota to Help Rural Businesses

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$345,995 in South Dakota to Help Rural Businesses
South Dakota Ag Connection - 08/12/2020

The Trump Administration Tuesday announced that the U.S. Department of Agriculture (USDA) is investing $345,995 in South Dakota to help rural businesses create jobs and increase economic opportunity in rural South Dakota.

"These grants provide capital for small and emerging businesses, strengthening economic growth which plays an essential role in furthering prosperity for small rural communities," said Julie Gross, South Dakota USDA Rural Development State Director. "Under the leadership of President Trump and Agriculture Secretary Perdue, USDA continues to be a strong partner with rural communities, because we know that when rural America thrives, all of America thrives."

USDA is awarding the grants through the Rural Business Development Grant (RBDG) program. Recipients may use the funds to provide technical assistance, training, and business incubation services for job creation activities, along with Revolving Loan Funds and Feasibility Studies for small rural businesses. The following are examples of projects being funded under today's announcement in South Dakota.

- Four Bands Community Fund, Inc. will use a $99,999 grant to assist ten small and emerging businesses on the Cheyenne River Sioux Reservation with technical assistance through training. These small businesses will have access to hands-on and classroom assistance and will benefit from economic development. The project will create 19 jobs.

- Lower Brule Sioux Tribe will use a $42,500 grant to finance a feasibility study for a potential grocery store. The grocery store will serve the Lower Brule community and surrounding area.

- City of Gregory will use a $49,000 grant to provide a revolving loan fund, which will increase success and economic growth in the community and surrounding areas. The project will create 12 jobs.

- Choose Clark County will use a $99,000 grant to establish a revolving loan fund that will be used to make loans and assist start-up or expanding businesses. This assistance will increase success and economic growth in the community and surrounding areas.

- Value Added Ag Development Center, Inc. will use a $55,496 grant to provide technical assistance and education to assist five targeted businesses in five counties in South Dakota. This project will provide feasibility analysis and business planning to add value to these small and emerging businesses. The project will create 18 jobs and save eight.

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