(The Center Square) – South Dakota Trade is receiving $1 million from the state to assist businesses in growing overseas, Gov. Kristi Noem said Wednesday.
The money will come from the Future Fund of the Governor’s Office of Economic Development, also known as the GOED. The state created the fund in the 1980s as a way to spur workforce development, according to its website.
South Dakota Trade is a public-private partnership established last year to “navigate international trade” for the state, according to the organization.
Lt. Gov. Larry Rhoden went on a trade mission to Mexico with the group earlier this year, Noem said.
“Our inaugural year has been incredibly productive, thanks to our partnership with Governor Noem, GOED, and over 25 other organizations across the state,” said SD Trade president and CEO Luke J. Lindberg. “Companies involved in the delegation led by Lt. Governor Rhoden to Mexico have realized a return of over 65 times our investment in this mission. We plan on doing more trips in the future.”
South Dakota Trade secured $3 million in sales for companies, according to Noem.
“South Dakota feeds the world, and we are constantly looking for new opportunities to market our incredible work to consumers in other countries,” Noem said. “Over 27,000 South Dakotans are employed by jobs directly supported by exports. We will continue to invest in our people and our workforce through the work of South Dakota Trade.”