2023 was a significant year for the Rural Electric Economic Development, Inc. Fund. We are proud to have reached $100 million in REED loans originated which has generated $1 billion in total project impact. Our loans have benefited more than 10,000 jobs across several rural communities in South Dakota and...Continue Reading
Over the past two decades, the Garden City Volunteer Fire Department in Clark County, South Dakota had become inactive. Residents of Garden City and the townships of Eden and Maydell relied on neighboring fire departments for emergency services, which meant response times were slower and fires had more time to...Continue Reading
More than 18% of South Dakota residents are over the age of 65. This is one of the fastest-growing groups in the country as medical and technology advancements allow people to live longer, healthier lives. For many people, this is a good thing. It allows them to stay active in...Continue Reading
The population of Milbank, South Dakota, continues to grow as more people discover this town. In 2021 alone, the population grew by 11% with nearly 3,500 residents calling Milbank home. As more people move to Milbank, demand for housing increases. To address this concern, the Rural Electric Economic Development (REED),...Continue Reading
FOR IMMEDIATE RELEASEWednesday, January 3, 2024For more information, contact:Audrey Anderson Dynamic and User-Centric Online Presence CreatedMADISON, SD -- Rural Electric Economic Development, Inc. (REED Fund) is excited to announce the launch of its newly redesigned website, created in collaboration with Golden Shovel Agency. The revamped site, found at www.reedfund.coop, features a...Continue Reading
Fun times are waiting at Fun Time Adventures with a new go-kart track, mini golf course, and outdoor maze! Fun Time Adventures received financing from the REED Fund in partnership with West Central Electric Cooperative for the expansion.Fun Time Rentals recently moved to its new location at 910 Bass Drive...Continue Reading
$245K loan makes Pulse of Life Kids Center come to lifeAn innovative new partnership in Vermillion, South Dakota, highlights the connection between childcare and workforce development. Thanks to a $245K loan from Clay-Union Electric through the Rural Electric Economic Development (R.E.E.D.), Inc. Fund, the Pulse of Life Kids Center was...Continue Reading
The Rural Electric Economic Development, Inc. (REED) Fund is a community development financial institution that operates under cooperative principles of commitment to community and cooperation among its member cooperatives. The REED Fund assists projects that promote growth and contribute to job, business and wealth creation, as well as improve the...Continue Reading
Beadle & Spink Enterprise Community, Inc. (BASEC) is committed to providing loan opportunities for housing developments to residents of Beadle and Spink counties in South Dakota. These funds can be used toward building, purchasing, and improving homes.“Our organization responds to the needs that come through our door, so these funds...Continue Reading
Throughout the years, facilities providing medical care across rural South Dakota and western Minnesota have received financial help from the REED Fund for important projects and upgrades. Whether it be a medical clinic or an assisted living facility, the REED Fund continues to assist these entities that are of vital...Continue Reading
April is National Volunteer Month and volunteer fire stations everywhere can use new helpers. If you are a Mount Vernon resident who has been looking for a way to dedicate your time to improving the community, consider volunteering for the Mount Vernon Volunteer Fire Department in South Dakota!The Mount Vernon...Continue Reading
Four entities in Alcester, SD recently secured REED Fund grants for important projects and upgrades that will benefit the community. 1st Financial Bank USA looked to the REED Fund to find communities in southeast South Dakota that needed money for projects, then provided them with the funds to distribute to...Continue Reading
The REED Fund recently closed a loan in Summit, SD for a manufacturing company. Skyview Construction is going to be building homes using metal studs and trusses that are manufactured in-house. The REED Fund helped finance new equipment that will be used to make the products.
American Bank and...Continue Reading
The City of Elk Point recently secured a grant from REED Fund in order to fund an important housing study in the Elk Point community. If you’re in the South Dakota area, keep REED Fund in mind for financial assistance with important housing projects, community developments, business startups, and more.How...Continue Reading
Thanks to assistance from REED Fund, Fields Fish & Game has been a newly established business in De Smet, South Dakota since it opened in June of 2021. Fields Fish & Game received a loan from REED Fund in order to meet their inventory demand as their store and customer...Continue Reading
Dakota Style Foods, Inc recently received a loan from Rural Electric Economic Development (REED) Fund to assist with the construction of a new chip manufacturing plant. A main part of REED Fund’s mission is to contribute to projects that promote growth and improve upon community facilities in rural areas of...Continue Reading
REED Fund is dedicated to giving financial support to make improvements in South Dakota. The loans provided by REED Fund assist with important projects in the area including upgrades to residential developments.
The main goal of REED Fund is to make a meaningful difference in the South Dakota and...Continue Reading
We are spotlighting economic development activities during the second week of May to celebrate Economic Development Week (EDW). REED Fund is primarily focused on promoting economic growth and prosperity throughout rural communities in South Dakota and Minnesota. We partner with economic development lenders in order to provide financing for community...Continue Reading
In 2019, Blue Dragon Academy in Garretson opened a brand new building that fit 105 kids. Within a few months, the building was already completely full. Now, 39 kids are on the waitlist to join the daycare. In order to accommodate those kids and more, Blue Dragon Academy plans to expand...Continue Reading
Healthcare clinics are typically a place residents go to for medical help. But the tables were turned in 2020 when the COVID-19 pandemic occurred in the midst of Horizon Health Care closing on a new building in Yankton, South Dakota. The REED Fund and Bon Homme-Yankton Electric were able to...Continue Reading
Photo: Central Electric Cooperative General Manager Ken Schlimgen presents the REED loan to T&C Fire Department President Alan Linke and Fire Chief Travis Coulthard.
T&C Fire Department in Woonsocket, S.D., recently received a $135,000 Rural Electric Economic Development (REED) loan issued by Central Electric Cooperative. The funds are being...Continue Reading
One silver lining to the harsh realities of the COVID-19 pandemic was the value of local production. With the assistance of the REED Fund, Fresha, Inc, a carrot packaging operation in western Minnesota, now has the ability to expand their operations to bring value-added produce to the market from a...Continue Reading
This paid piece is sponsored by SDN Communications.
Building seven new houses is helping turn around a population decline in Mount Vernon.
Located about 15 miles from Mitchell, the community is perhaps best known as the hometown of former NFL linebacker Chad Greenway. But that reputation hasn’t been...Continue Reading
Who We've Helped
Broadband-2023
1
Broadband Cooperative
Education-2023
25
Education
(schools, distance learning, technology; including 5 childcare centers)
Agronomy-2023
20
Grain Handling/Agronomy Firms
(17 are producer owned, $467 million capital Investment)
Ag Processing-2023
27
Ag Processing Businesses
(16 producer-owned, $331 million capital investment)
Ag retail-2023
13
Agriculture Retail/Service Businesses
Tourism-2023
22
Tourism Related Businesses
Retail and service-2023
58
Retail and Service Businesses
Manufacturing-2023
29
Manufacturing Firms
(plant and/or equipment)
Recreation-2023
18
Recreation and arts facilities, non-profit, including community centers
Local-2023
9
Partner Regional and Local Loan Funds
Infrastructure-2023
21
Community Infrastructure Projects
(water, wastewater, streets, emergency)
Industrial parks-2023
43
Industrial Parks
(Office facilities or industrial buildings for lease or sale, all non-profit owners)
Housing-2023
26
Housing projects
(4 site development, 12 elderly and assisted living, 6 multi-family rental properties, 2 housing loan funds, 3 single family homes)