The South Dakota Board of Economic Development approved funding for three projects aimed at expanding business, improving infrastructure, and supporting major private investment statewide.
A $7.5 million REDI loan will help Elevate Rapid City develop a 128‑acre business park to meet growing industrial demand and boost western South Dakota’s competitiveness. Lake County received a $500,000 grant to rebuild County Road 17, supporting increased traffic tied to Dakota Ethanol’s 50% production expansion.
The board also approved up to $29.9 million in reinvestment payments to support Smithfield Packaged Meats’ planned $1.29 billion facility in Sioux Falls—the largest private investment in state history—which will retain more than 3,100 jobs.
Gov. Larry Rhoden said the projects reflect continued investment in South Dakota’s economic future, while GOED Commissioner Bill Even emphasized the importance of keeping the state competitive for large-scale employers.
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