Two Rapid City companies won state government’s assistance Thursday to help finance expansions.
B9Creations, through investor SSM, received a $370,500 loan toward purchasing a building. The company makes 3D printers.
Forest Products Distributors got a $21,937 South Dakota Jobs grant as 75 percent compensation for state sales and use tax. The company is adding a residential line.
The state Board of Economic Development also approved a record $10 million loan to Terex South Dakota in Watertown. The company also received a $2,483,445 reinvestment payment as 100 percent compensation for state sales and use tax.
The government board also provided Terex with a reinvestment payment of $2,483,445 to offset state sales and use tax.
“Yes! Yes! Yes!” John Calvin, a Watertown member of the board and a past state commissioner of economic development, said when his turn came to vote.
Calvin credited people throughout the community and state government including current Commissioner Scott Stern.
“It was amazing it all came together,” Calvin said.
Board Chairman Jeff Erickson of Sioux Falls said nearly 800 employees at the various Terex operations in South Dakota helped convince the company it should stay.
A $123,480 reinvestment payment to 3M Aberdeen as 100 percent compensation for state sales and use tax was also passed along with a loan of $1,241,000 to Weisser Distributing for expansion of its online vehicle-parts business in Sioux Falls.
Grants of $267,000 to Bryant Area Improvement, $454,978 to Colman and $500,000 to Garretson in local infrastructure aid were also passed by the board.