SD Legislature Passes Economic Development Plan for Large Projects

Construction Workers Looking at Blueprints

 

PIERRE, S.D. (AP) — The South Dakota Legislature has passed a comprehensive bipartisan economic development plan intended to help recruit projects to the state.

After a negotiating committee added $7 million to kick-start the plan, the House voted 60-6 and the Senate voted 31-2 to pass it. The measure will become law if Gov. Dennis Daugaard signs it.

The program would refund part or all of the sales tax paid by large projects that would not locate in South Dakota without the incentive. Contractor’s excise tax paid by those projects and some unclaimed property money would be used for other economic development efforts.


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