Gov. Noem looking to increase housing availability
PIERRE, S.D. — In an effort to boost housing availability in South Dakota, Governor Kristi Noem has asked her Office of Economic Development to use certain funds in support of more housing projects.
The “Revolving Economic Development and Initiative” or “REDI” Fund is a financing tool for businesses growing or coming into South Dakota.
Noem says she’s heard from business owners and community stakeholders that housing availability can be scarce.
She says it’s an issue that’s holding back communities from reaching their full investment potential, and by tapping into the REDI fund, the state can help attract more businesses.
“It’s basically telling the world that we’re here,” said Gov. Noem. “Sometimes South Dakota hasn’t been very aggressive in letting other states know that we’re going to come after and recruit their businesses. We know that we can save them money. We know that we have people here in South Dakota that work hard.”
The low-interest loan fund is available to start-up firms and businesses that are expanding or relocating, and local economic development corporations. For more information on REDI Funds, including eligibility requirements and the application process, click here.