GOV. ROUNDS ANNOUNCES INDUSTRIAL PARK GRANT FOR CITY OF LENNOX
BYLINE: States News Service
DATELINE: PIERRE, S. D.
The following information was released by the office of the governor of South Dakota:
Gov. Mike Rounds today announced a $224,000 state industrial park grant has been awarded to the city of Lennox by the South Dakota Transportation Commission.
"The grant will be used for road improvements, including concrete surfacing, storm sewer, and curb and gutter, to provide access to Wilson Trailer Sales Inc., which is moving the gooseneck trailer manufacturing division of their company to Lennox," said Gov. Rounds.
The investment by Wilson Trailer Sales in the project, including land, buildings, and equipment, is estimated at $6 million.
The grant is part of the Industrial Park Road Program, a program of the South Dakota Department of Transportation (SDDOT) that assists cities and towns that need new or expanded access for a new industry that is coming to their community.
Each year, the state Transportation Commission allocates $1 million in state highway funds for the program. The state reimburses the communities for the amount of the grants, which are 60 percent of the project's cost for access roads and 80 percent for roads within the industrial park. The community is responsible for all right-of-way acquisitions, utility costs, and design and construction engineering costs.
The Office of Local Government Assistance within the SDDOT and the Governor's Office of Economic Development review the applications prior to recommending them to the commission. To be eligible, the industrial facility must be committed to begin construction within 6 months of grant approval, employ a minimum of five new jobs and have a committed capital investment of at least five times the required state participation costs.
Grant applications are accepted continuously. For more information on the SDDOT Industrial Park Road Grants Program, visit www.SDDOT.com or call (605) 773-4831.