|Program||# of Grants||EDA Funds|
During Fiscal Year 2013, EDA invested $4,287,432 in 14 projects in the State of South Dakota. These projects are expected to create or retain 286 jobs and leverage $70,200,000 in private investment, according to grantee estimates. EDA’s investments help South Dakota communities achieve bottom-up, locally-defined economic development goals and strategies.
EDA offers a complementary, balanced portfolio of grant programs designed to help rural and urban communities grow their private sectors and create jobs.
Investment Spotlight: Stabilization of the Yankton Wastewater System
The economy of Yankton, South Dakota is largely dependent on agricultural production and processing, and manufacturing. While strong drivers of employment across the region, both sectors experience frequent fluctuations. When prices for commodities such as corn and soybeans are high, the regional economy flourishes, but such conditions typically do not last long. The region’s manufacturers have also experienced the boom-bust cycle in recent years, a consequence of recession.
Flooding was added to the economic uncertainty. Flooding and erosion in 2011 took its toll on Yankton’s wastewater system, eroding the ground beneath the wastewater pipes and causing sinkholes that threatened key business areas. The city needed to shore up its wastewater system in order to provide a stable foundation for its business community. In December 2012, EDA awarded $2 million to the city of Yankton to support construction of critical infrastructure improvements to the city’s wastewater collection, transmission, and treatment systems necessary to withstand changes in groundwater levels due to future flooding. The improvements will assist the city in recovering from the flooding and erosion that occurred in 2011, and will help with job creation and economic development efforts needed to make the community more resilient.