New Business & Relocation Incentives

De Smet and the State of South Dakota offer a strong, business-friendly environment supported by a range of valuable incentives. With no personal or corporate income tax, no personal property tax, no business inventory tax, and no inheritance or estate taxes, it’s easy to see why South Dakota consistently ranks among the top states for business- #2 for Business Friendliness and #4 for Best States to Start a Business.

Local Programs

Kingsbury County Tax Abatement

With the purchase of a newly constructed building, a five-year prorated tax abatement is offered from Kingsbury County.
Website: http://sdreadytowork.com/Financing-Incentives/Tax-Incentives.aspx

Kingsbury County Revolving Loan Fund

This fund is available to finance new business start-ups, as well as for the retention and expansion of existing businesses and community projects in Kingsbury County. Direct financial support from the corporation in the form of employee salary assistance and/or facility rent based on job creation and growth.

KCDEC participates with local financial institutions and other lenders to maximize the available capital for development projects.
Website: http://sdreadytowork.com/Financing-Incentives.aspx

State Programs

REDI Fund

Financing tool available for start-up firms and businesses that are expanding or relocating.

South Dakota Works

Flexible loan program for companies in need of working capital, fixed assets, and interim construction financing.

Workforce Development

Grant program that can fund up to 50% of eligible training expenses to companies that meet certain wage and benefit criteria.

Further information on these programs and other incentive programs available at: Do Business in South Dakota - SD Governor's Office of Economic Development - https://sdgoed.com/