Washington, D.C. —
Senator John Thune today announced federal funds worth over $1 million for business development and job creation in two South Dakota communities.
The Northeast South Dakota Economic Corporation (NESDEC) will receive a $750,000 loan to serve Roberts County, and the Deadwood Economic Development Corporation (DEDC) will receive a loan worth $516,294 to serve Lawrence County. The loans are intended to finance business facilities and community development projects in rural areas.
“This important investment will create and improve economic opportunities in these two communities,” Thune said. “These funds will not only promote business development but will improve the quality of life of many rural South Dakotans.”
The funds, made possible through the United States Department of Agriculture (USDA) Rural Development Intermediary Relending Program, are made to intermediaries such as NESDEC and DEDC who then re-lend the monies locally to support businesses or community development. Recipients of these re-lent funds are to use the funds for the purposes of establishing new businesses, expanding existing businesses, creating employment opportunities, saving jobs and other community development projects.
The Northeast South Dakota Economic Corporation (NESDEC) will receive a $750,000 loan to serve Roberts County, and the Deadwood Economic Development Corporation (DEDC) will receive a loan worth $516,294 to serve Lawrence County. The loans are intended to finance business facilities and community development projects in rural areas.
“This important investment will create and improve economic opportunities in these two communities,” Thune said. “These funds will not only promote business development but will improve the quality of life of many rural South Dakotans.”
The funds, made possible through the United States Department of Agriculture (USDA) Rural Development Intermediary Relending Program, are made to intermediaries such as NESDEC and DEDC who then re-lend the monies locally to support businesses or community development. Recipients of these re-lent funds are to use the funds for the purposes of establishing new businesses, expanding existing businesses, creating employment opportunities, saving jobs and other community development projects.