Sturgis, SD – August 15, 2012: Rural Development South Dakota State Director Elsie M. Meeks announced the award of $99,999 Rural Business Enterprise Grant Funds (RBEG) to the Sturgis Economic Development Corp.
The Rural Development funds will be used to construct a business incubator in the form of a 4-unit industrial mall complex. It will assist small and emerging businesses within the Sturgis Industrial Park.
“This project provides opportunity and resources to support economic development. The partnership with the Sturgis Economic Development Corp. (SEDC) shows what can be accomplished when government and entrepreneurs work together to bring increased economic stimulus and jobs to rural South Dakotans,” stated Meeks. “The Obama Administration is committed to improving the lives of rural Americans, put people back to work and build thriving economies in rural communities.”
SEDC has 38 years of successful experience in economic development and assisting rural small businesses. It was formed in 1973 by a group of visionary local businessmen. The mission of SEDC is to actively pursue economic development by assisting new or expanding business and industry in Sturgis and the greater Meade County area.
“We are excited about the economic growth potential of this project,” commented Pat Kurtenbach, SEDC President. “The goal of the industrial incubator is to assist entrepreneurs with the resources to develop, expand, and create jobs. Its location in the Sturgis Industrial Park will allow easy access for mentoring and sharing of best practice resources.”
USDA Rural Development serves as the lead federal agency for rural development needs by offering financial and technical assistance to individuals, businesses, and communities. USDA Rural Development programs include funding for day care centers, fire trucks and other community facility projects; the purchase, construction or repair of homes; loans and guarantees to rural businesses to save or create jobs and renewable energy; and loans and grants for water and sewer utility projects.