Revolving Economic Development and Initiative (South Dakota)
Last modified on February 12, 2015.
|Name||Revolving Economic Development and Initiative (South Dakota)|
|Policy Category||Financial Incentive|
|Policy Type||Loan Program|
|Affected Technologies||Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Wind energy|
| Last Substantive Modification
The Revolving Economic Development and Initiative (REDI) provides low interest loans to start-up firms, businesses that are expanding or relocating and local economic development corporations. The REDI Fund provides up to 45 percent of the total project's cost. Companies should secure matching funds and be able to provide a 10 percent minimum equity contribution before applying to the Board of Economic Development for a REDI Fund loan.
|Contact Name||Travis Dovre|
|Department||South Dakota Governor's Office of Economic Development|
|Address||711 E. Wells Avenue|
|Place||Pierre, South Dakota|
|Phone 2||(605) 773-3301|
Authorities (Please contact the if there are any file problems.)
|Authority 1:||Economic Development Finance Authority|