PRESS RELEASE
FOR IMMEDIATE RELEASE: Wednesday, September 27, 2023
CONTACT: LAIC Executive Director Brooke Rollag
MADISON, S.D. - Infrastructure is necessary for growth. A community must make investments in roads, water, street lighting and more to draw new businesses and accommodate local growing businesses.
Madison’s Lakeview Industrial Park is home to several new and expanding businesses providing a variety of services to the community.
An opportunity recently presented itself to the Lake Area Improvement Corporation for grant funding to assist with necessary infrastructure costs to further support business development in the industrial park.
“We were not outwardly seeking a new industrial park project, but when I was made aware of this grant opportunity back in April, we took action.” said Brooke Rollag, executive director of the LAIC.
The LAIC applied for a grant through the U.S. Department of Commerce’s Economic Development Administration (EDA) on behalf of the City of Madison. Typically, the city would not be eligible for the grant due to income guidelines. However, because of the recent derecho, the city was declared a disaster area, making them eligible.
The result was the city being awarded $3.6 million in an EDA grant.
The grant opportunity was made possible by Global Polymer’s expansion, resulting in the creation and retention of jobs and an investment in private capital.
“The key is to have a business expansion or recruitment project in place at the time of the application,” said Rollag.
The funded project consists of new street construction including water main, sanitary sewer and storm sewer for 16th Street SE and Industry Avenue.
Additionally, 800 feet of existing roadway adjacent to the industrial park will be reconstructed to improve access and safety. The Washington Avenue and 12th Street SE intersection will be widened and have turn lanes added.
“We are grateful to Alex Smith with EDA as he was instrumental in walking Brooke and our board through this federal grant process,” said Eric Sinclair, president of the LAIC Board of Directors. “We also worked closely with our good friends at First District Association of Local Government for technical assistance and grant writing.”
Sinclair emphasized the long-term benefit this grant will have not only on the industrial park, but the entire Madison community. The project supports businesses and is expected to create 100 quality jobs.
“This project came together because of the hard work of multiple entities working together to accomplish a goal which will create future opportunity,” Sinclair said.
-30-