Spearfish Discretionary Tax Abatement
For manufacturing and service exporting industries, a tax abatement is available for newly constructed building and/or additions to existing buildings. The program is designed to provide a 50% reduction in all real property taxes paid within the first 5-years of operation.
Reinvestment Payment Program
Designed to help companies offset the upfront costs associated with relocating or expanding operations in South Dakota, this program allows for the reimbursement of sales and use tax paid on qualifying projects. Total project cost in excess of $20,000,000 or equipment upgrades with a total project cost in excess of $2,000,000 are eligible to apply for a reinvestment payment under this program. Reinvestment payments are intended for projects that would not have occurred without the payment. To learn more about this program and to download and application click here.
South Dakota Jobs Grant Program
The Board of Economic Development may provide grants to assist companies in offsetting the upfront costs associated with relocating or expanding operations and/or upgrading equipment in South Dakota. The program allows for project owners to receive a South Dakota Jobs Grant for new or expanded facilities with project costs less than $20,000,000 or for equipment upgrades with project costs less than $2,000,000. To learn more about this program and to download and application click here.
The following projects are not eligible for a South Dakota Jobs Grant:
- Buildings or structures used predominantly for the sale of products at retail;
- Buildings or structures used predominantly for residential housing or transient lodging;
- Buildings or structures used predominantly to provide health care services.