Tag: economic development
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Ask Jay Headley what Dakota Resources’ biggest accomplishments were for 2016, and he will rattle off a list that includes providing capital to assist with rural building projects, new housing developments, land purchases, the opening of new businesses and collaborative partnerships.
However, one of his favorite highlights was finalized at the end of the year and involves a partnership between Dakota Resources and US Department of Agriculture Rural Development (USDA). USDA named Dakota Resources as a “re-lender” of $10 million in federal funds to help spur economic development opportunities and reduce rural poverty in South Dakota communities. The funds will be used to improve essential facilities in low income rural areas, such as health care facilities, child care centers, town halls, assisted living centers, transitional housing, street improvements and educational facilities.
“Dakota Resources is only one of a handful of Community Development Fund Institutions … Read More »
Sometimes, a move forward requires a step back.
That’s exactly what Nick Fosheim, Executive Director of the Lincoln and Minnehaha County Economic Development Associations, decided to do in 2016.
“We have been a regional economic development collaborative for about fifteen communities around Sioux Falls for twenty-five years,” says Nick. “Many things have changed since we started, and we decided it was time to take stock of where we’ve been and where we want to go. We wanted some clear perspective, and that’s what Dakota Resources helped provide.”
Nick knew about the value of Dakota Resources because of his previous employment with economic development in Webster and their involvement in Dakota Rising.
“I respected the process and their ability to engage a community,” he says. “We decided to partner with Dakota Resources through Empower! Dakota in an effort to build a strategic plan for Lincoln and Minnehaha counties.”
The Lincoln … Read More »
“Get the right people on the bus, the wrong people off the bus, and the right people in the right seats.” Jim Collins’ quote from Good to Great is now famous, and powerful in its simplicity and logic. Yet it is not easy to accomplish.
Dakota Resources (formerly South Dakota Rural Enterprise) operated out of my home office for many years with contract administrative support and a contracted credit officer. We started out with the Capital Investment Fund as our only product. We were purely a financial institution making capital available to development organizations in South Dakota. We have become so much more by being responsive to the needs of our market and being willing to take calculated risks to meet those needs. None of it would have been possible without the caliber of the members of our board of directors … Read More »
Clint Waara has been named the new Vice President of Business Development for Dakota Resources and Dakotas America LLC. A statewide, private, not-for-profit rural development organization, Dakota Resources serves all of South Dakota with the capacity to initiate model programs, broker projects and organize coalitions around rural development issues.
A partnership of Dakota Resources and the North Dakota Rural Development Finance Corporation, Dakotas America assigns New Markets Tax Credit allocations for approved investments in qualifying projects located in rural, highly distressed low-income communities in the United States.
In his new position, Waara communicates the capabilities of Dakota Resources and Dakotas America to investors, communities, government agencies and other strategic partners. He works with Dakota Resources President Beth Davis and Dakotas America Managing Director Lin VanHofwegen to bring the products and services of both organizations to economic development groups and communities ready to invest in … Read More »