South Dakota Tax Incentives
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South Dakota Tax Incentives
Page Contents
- Ability for Hire
- Access Loans
- Apprenticeships
- Assistive Technology Equipment Demonstration
- Assistive Technology Fund
- Assistive Technology Recycling/Reuse
- Chamber of Commerce and Industry
- Dakotalink
- Economic Development Finance Programs
- Economic Development Partnership Program
- Education and Job Training Opportunities
- Employment Services for Veterans
- Governor’s Office of Economic Development
- MicroLOAN SD
- Microsoft Accessibility Resource Center
- Reinvestment Payment Program
- Revolving Economic Development and Initiative Fund Loans
- SBA 504 Loan Program
- South Dakota Incentives: Taxes and Business Climate
- Short Term Assistive Technology Device Loan
- Vocational Rehabilitation Services
- Workforce Development Program
Ability for Hire
Ability for Hire is designed to deliver information, outreach and resources to businesses, job seekers and the public workforce system to ensure greater recruiting and hiring opportunities for job candidates with disabilities.
Besides employing loyal and motivated employees, hiring people with disabilities may bring valuable tax incentives to your business.
Access Loans
Access Loans are now available for any product, device, or building modification designed to assist someone with a disability. Borrow from $1,500 to $25,000 or more for up to 72 months with no down payment required. The borrower need not be the beneficiary of the purchase. Qualified purchases include, but are not limited to:
- Powered-non-vehicle transportation such as scooters, power wheelchairs, stair-climbing power chairs, all-terrain wheelchairs.
- Manual transportation such as standard manual wheelchairs, custom sport wheelchairs, and specialized hand cycles.
- Adaptive computer and communications equipment such as air tube systems for spinal cord injuries, voice systems for the blind, educational and rehabilitation systems for children and adults.
- Durable medical equipment such as slings for lifting paraplegics and quadriplegics, breathing systems, specialized beds.
- Rehabilitative equipment such as motorized equipment that exercises muscles and limbs
- Accessible building modifications such as bathroom and kitchen accessibility, ramp installation and widening doorways.
Apprenticeship
Registered Apprenticeship programs available through the U.S. Department of Labor Apprenticeship System meet the skilled workforce needs of American industry. Registered Apprenticeship helps mobilize America's workforce with structured, on-the-job learning in traditional and emerging professions. Registered Apprenticeship connects job seekers looking to learn new skills with employers searching for qualified workers, resulting in a workforce with industry-driven training and employers with a competitive edge.
The person who is hired as an apprentice can be someone with a disability who needs this method of vocational training to achieve gainful employment.
Assistive Technology Equipment Demonstration
DakotaLink has established four Demonstration Centers across the state for the purpose of allowing individuals with varying disabilities to try different assistive devices. The Centers are equipped with some of the latest technology for uses in the home, at work, in the classroom, community and recreation. This will give the individual a hands-on experience before purchasing a needed device
Assistive Technology Fund
The Association of Blind Citizens has established the Assistive Technology Fund. The Assistive Technology Fund will provide funds to cover 50% of the retail price of adaptive devices or software. The Association of Blind Citizens board of directors believes that this program will allow blind and visually impaired individuals access to technology products that will have a significant impact on improving employment opportunities, increase the level of independence and enhance their overall quality of life.
Assistive Technology Recycling/Reuse
Hoping to find a good-quality, used assistive technology device? Or perhaps you have a device you no longer want. DakotaLink encourages device recycling because it is good for the environment and good for your pocketbook. DakotaLink’s web-based resource is an easy and efficient way to locate, sell, donate or recycle used assistive technology devices, including durable medical equipment.
Chamber of Commerce and Industry
The South Dakota Chamber of Commerce and Industry will provide leadership to ensure a vigorous and prosperous business climate for the benefit for all South Dakotans.
Dakotalink
Dakotalink is a statewide program linking South Dakotan’s to assistive technology devices and services.
Economic Development Finance Programs
This publication, issued by the Governor’s Office of Economic Development, highlights the various finance programs available to South Dakota businesses and entrepreneurs.
Economic Development Finance Programs PDF
Economic Development Partnership Program
The Economic Development Partnership Program provides matching grants to assist in funding equipment and training needs, new staff, or to elevate existing part-time staff, for the purpose of developing or expanding local and community economic development programs. Economic Development Partnership Grants may also be used to commence or replenish local revolving loan funds for the purpose of developing or expanding housing, community development, and economic development programs.
Any nonprofit development corporation, tribal government, municipality, county, or other political subdivision of this state may apply to the Board of Economic Development for an Economic Development Partnership Grant under this program.
A part-time employee who has a disability can receive vocational training through this program.
Education and Job Training Opportunities
The Department of Labor and Regulation is prepared to adapt and customize its education and job training programs to meet the needs of participants and the changing demands of employers.
The participants who are benefiting from this training could be employees with disabilities who need additional vocational instruction sustain employment.
Employment Services for Veterans
Every local South Dakota Department of Labor and Regulation office is staffed with a trained employment representative who can provide job-seeking veterans with:
- Intensive services and employment assistance for disabled veterans. If you have a military disability, you may also qualify for vocational rehabilitation services.
- In-person orientation sessions introducing South Dakota Department of Labor and Regulation services and procedures.
- Job-search information, help writing a resume and cover letters, help preparing for interviews.
- Eligibility determinations for special programs and services that employ and train veterans.
- Information on how to apply for federal, state, county and city employment.
- Employment information for newly separated or transitioning service members.
- Assistance with cross-matching your military skills to civilian employment.
- Direct referrals to job openings.
Governor’s Office of Economic Development
The Governor’s Office of Economic Development GOED works to expand primary job opportunities for all South Dakotans. It strives to retain and expand existing businesses, foster new businesses, facilitate business succession and recruit out-of-state businesses. This Office works closely with community economic development corporations to expand and diversify the state’s industry and economy. Additionally, the GOED administers a variety of financing opportunities available to new and existing businesses.
Governor’s Office of Economic Development Financing Application DOC
Governor’s Office of Economic Development Financing Application PDF
MicroLOAN SD
The MicroLOAN South Dakota Loan Program is a partnership with the South Dakota Development Corporation, and Governor's Office of Economic Development. These loans are made available to small businesses within the borders of South Dakota and South Dakota residents, including Main Street and retail operations, for working capital, equipment, real estate or other fixed asset project costs.
Some features of the program are:
- 3% fixed rate interest.
- Up to a 10 year term depending on loan size.
- Takes a second collateral position behind lead lender if they are a bank or credit union.
- Lead lenders can be banks, credit unions or other approved lenders, but the MicroLOAN is in a shared first collateral position when the lead lender is not a bank or credit union.
- Loan amount from $1,000 to $100,000.
- Project size up to $500,000.
Purchasing equipment, like Assistive Technology, to make an employee with a disability more productive is an appropriate use of this loan.
MicroLoan SD Policies and Procedures PDF
Microsoft Accessibility Resource Center
A Microsoft Accessibility Resource Center provides expert consultation on assistive technology and accessibility features built into Microsoft products. Their specialists understand how disabilities impact computer users and are trained to evaluate the needs of the person with the disability. Some centers offer computer training and many organizations have lending libraries, so a consumer can try a product before purchasing it.
Reinvestment Payment Program
The Reinvestment Payment Program is available to assist companies in offsetting the up front costs associated with relocating or expanding operations and/or upgrading equipment in South Dakota. The program allows for project owners to receive a reinvestment payment, not to exceed the South Dakota sales and use tax paid on project costs, for new or expanded facilities with project costs in excess of $20,000,000, or for equipment upgrades with project costs in excess of $2,000,000.
Companies pursuing new or expanded facilities with a total project costs in excess of $20,000,000 or equipment upgrades with a total project cost in excess of $2,000,000 are eligible to apply to the Board of Economic Development for a reinvestment payment under this program. One of the key criteria considered by the board when approving or denying an application is the likelihood the project would have occurred without the reinvestment payment. Reinvestment payments are intended for projects that would not have occurred without the payment.
When a company expands its operations with the support of this program, more job opportunities may become available, especially for job seekers with disabilities.
Reinvestment Payment Program Guidelines PDF
Reinvestment Payment Program Application PDF
Reinvestment Payment Program Application DOCX
The South Dakota Jobs Grant Program is very similar to the Reinvestment Payment Program.
South Dakota Jobs Grant Program Application DOCX
South Dakota Jobs Grant Program Application PDF
Revolving Economic Development and Initiative Fund Loans
The REDI (Revolving Economic Development and Initiative) Fund is designed to help promote job growth in South Dakota. This low-interest loan fund is available to start-up firms, businesses that are expanding or relocating, and local economic development corporations.
The REDI Fund provides up to 45 percent of a project's total cost. Companies should secure interim (construction) financing, matching funds for permanent financing and be able to provide a 10 percent minimum equity contribution before applying to the Board of Economic Development for a REDI Fund loan.
The job growth encouraged by these loans can open up new employment opportunities for job seekers with disabilities.
SBA 504 Loan Program
The SBA 504 loan program offers subordinated, fixed rate financing to healthy and expanding small businesses. Long-tem, fixed rate financing (10-20 years) and reasonable rates (near long-term U.S. Treasury bond rates), make the 504 Program an attractive and effective economic development financing tool.
The 504 Program is available for fixed asset purchases only: land, building, and equipment with a useful life of 10 years or more. Working capital, inventory, and venture capital are NOT eligible.
Purchasing a building that is ADA compliant is an appropriate use of the proceeds from this loan.
SBA 504 Loan Program Application PDF
SBA 504 Loan Program Application DOC
Short Term Assistive Technology Device Loan
At first glance, a particular assistive technology device might seem a perfect solution for you. But it’s hard to know for certain until you’ve actually experienced it. DakotaLink’s assistive technology loan service may help you decide. A variety of devices are available for short term loans as you determine what works best for you.
South Dakota Incentives: Taxes and Business Climate
This document has information on the many advantages of owning a business in South Dakota, including details on tax incentives and other financing options available to South Dakota employers.
South Dakota Tax Incentives Information PDF
Vocational Rehabilitation Services
Vocational Rehabilitation is a program that provides individualized vocational rehabilitation and supportive services to assist eligible individuals with disabilities get and keep jobs compatible with their skills and abilities.
The Employer Brochure has a list of South Dakota communities with the contact information for the VR office in each community.
Workforce Development Program
Through the Workforce Development Program, companies have access to dollars to train new and existing employees. The Governor's Office of Economic Development will provide technical assistance to develop the Workforce Development Program application. Technical assistance is also given to identify approaches and ideas necessary to develop a successful project.
The employee benefiting from this training program may be someone with a disability who needs additional vocational instruction to secure employment.
Workforce Development Program Guidelines PDF
Workforce Development Program Application DOC
