South Dakota Codified Laws 1-16G-52. Awards from economic development partnership fund
The Board of Economic Development may award funds from the economic development partnership fund for the following purposes:
(1) To support new staff, or elevate existing part-time staff and equipment and training needs for the purpose of developing or expanding local, community, and economic development programs;
Terms Used In South Dakota Codified Laws 1-16G-52
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(2) To support any recipient’s plans to work with other entities for the purpose of developing or expanding local, community, and economic development programs; or
(3) To award funds from the economic development partnership fund to commence or replenish a local revolving loan fund for the purpose of developing or expanding housing, community, and economic development programs. Areas of emphasis for funding include creating high quality employment opportunities, repopulation, stronger economies, housing development, business growth, support of entrepreneurship, and job creation, expansion, and retention. When awarding funds for a revolving loan fund, the board may give priority to an application that serves multiple communities. The board may give additional priority to an application that leverages state funds at greater than a one-to-one matching basis.
Source: SL 2013, ch 7, § 6, eff. Mar. 20, 2013; SL 2016, ch 4, § 5.