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  • South Dakota comes out on top in national studies.
  • The GOED is working to spread the word on our finance programs

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Spreading the Financial Word

  John Brown & LaJena Gruis
  504 Loan Officer LaJena Gruis, right, and SBA Executive Director John Brown, with the 2010 Asset Builders Award. The award is given out annually to the Certified Development Corporation with the highest loan dollar volume.

The staff at the GOED has been hard at work, spreading the word on the finance opportunities available in South Dakota. In fact, one program in particular has been doing so well, the efforts received statewide recognition at the South Dakota and North Dakota Bankers Conference last month in Sioux Falls.

“We are proud to be a part of the CDC (Certified Development Corporation) community in South Dakota,” said GOED Commissioner Pat Costello. “The increase in both volume and project sizes of 504 loans across the state speaks greatly to the state’s economic recovery.”

In addition to the South Dakota Development Corporation, Dakota Business Finance of Sioux Falls, First District Development Corporation of Watertown and Black Hills Community Economic Development of Rapid City also administer the SBA 504 program.

Bank visits:
In other efforts, GOED Community Development Representative David Anderson is gearing up for another round of bank visits.

“With these meetings, we are really able to nurture our relationships and promote our finance programs to the banks and bankers of our state,” Costello said. “We like to let them know that we are out here and ready to go.”

If your bank is interested in meeting with Dave, contact him at or (605) 773-3301.

Recent Rankings

In the Enterprising States Study, South Dakota was ranked No. 4 for its economic health and positive regulatory environment. read more

South Dakota was ranked No. 1 in George Mason University's Individual Freedom study. The study uses a range of statistics to rank the states on which ones are the freest from taxes and government regulation. read more

South Dakota's Gross Domestic Product saw an upswing of 4.28 percent in 2010, according to the state-by-state report released by the U.S. Department of Commerce in June. read more

Welcome, Deputy Commisssioner Cody Byrum

Deputy Commissioner Cody Byrum

In May 2011, the GOED welcomed Cody Byrum as its new Deputy Commissioner.

Byrum began his professional career as a Policy Analyst in the South Dakota Governor’s Office. After two years as analyst, Byrum was promoted to Deputy Legislative Director. He served four years in that capacity.

He is a member of the South Dakota Army National Guard and recently returned from a deployment to Afghanistan.

Byrum is a graduate of Black Hills State University. He and his wife, Rachel, live in Pierre and enjoy touring the Black Hills and spending time on the Missouri River.


This is a publication of the Governor's Office of Economic Development. Commissioner-Pat Costello; Deputy Commissioner-Cody Byrum; Marketing & Public Relations Director-Mary Lehecka Nelson; Editor and Designer-Jennifer Lambley. Copyright © 2011

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