Reinvestment Payment Program

Reinvestment Payment Program The Reinvestment Payment Program The Reinvestment Payment Program provides reinvestment payments to projects in excess of $20,000,000, or with equipment upgrades in excess of $2,000,000. The awards are intended for projects that would not have occurred without the reinvestment payment. The program is a component of 2013’s “Building South Dakota” legislation, which focuses on education, housing, infrastructure, local economic development efforts, and large and small project needs. The Board of Economic Development oversees the Reinvestment Payment Program. South Dakota Jobs Program This program is available to assist companies in offsetting the upfront costs associated with relocating or expanding operations and/or upgrading equipment in South Dakota.  The program allows for project owners to receive a South Dakota Jobs Grant for new or expanded facilities with project costs less than $20,000,000, or for equipment upgrades with project costs less than $2,000,000. The Board of Economic Development oversees the South Dakota Jobs Program. How it Works Eligible Recipients Application Details How it Works The project owner must apply to the Board of Economic Development for the consideration for a reinvestment payment no later than 90 days after starting construction.  If the board approves the application, the project owner must comply with the conditions of the approval