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Posts tagged: Rural Economic Development Loan Program

South Dakota: A Strong Force in Economic Development

Legends Suspensions owner Jesse Jurrens demonstrating a custom manufactured spring coil

Legends Suspensions owner Jesse Jurrens demonstrates a custom manufactured spring coil from their Sturgis-based manufacturing center.

To me, the phrase ‘economic development’ is more than a buzzword – and that was reinforced during an all-too-brief trip to western South Dakota. It’s easy to get caught up in the policymaking and program implementation in Washington, D.C., and I find great value in getting to the field so I can see exactly how these programs are helping our local stakeholders and partners, small business lenders, and entrepreneurs make investments in the local economy.

I started out the day in Sturgis, where we met up with Legends Suspensions owner Jesse Jurrens. With the backing of two Business & Industry Guaranteed Loans, Jesse has shaped and changed the sport and lifestyle of motorcyclists globally. With his lean and efficient business model, he’s become a global force in motorcycle suspensions. We also visited Landsport, another Sturgis-based business that specializes in manufacturing and marketing aluminum loading ramps, drop deck ramps, service ramps, and other custom applications. Landsport used a Business & Industry guaranteed loan to expand its production and work staff. After meeting with the staff at both facilities, I walked away knowing these operations have a long-term vision for success and growth.  USDA and our lending partners helped give them the freedom to execute that vision. Read more »

USDA Helps a Farm Equipment Dealership Expand, Create Jobs in North Dakota

After 40 years, the John Deere dealership in Ashley, North Dakota has moved, but not far. About a mile down the road, over 250 people recently gathered to celebrate the grand opening of Green Iron Equipment’s new $2 million facility. USDA Rural Development helped finance the project by partnering with a local cooperative, KEM Electric. Through the Rural Economic Development Loan Program, Green Iron Equipment received a $740,000 loan.

The original dealership consisted of four separate buildings in downtown Ashley. Two of those structures housed small service shops that could not accommodate large farm machinery. Read more »