State board approves loans and tax deals for businesses

Wednesday, August 22, 2018

PIERRE – The state Board of Economic Development agreed to several loans and incentives Tuesday for businesses expanding in South Dakota including at Rapid City.

Board members approved a reinvestment payment for Intrinsic Materials Corp. of up to $107,730, equal to 75 percent, of state sales and use tax on its Rapid City project.

“We’ve done a number of deals with Intrinsic,” said Aaron Scheibe, deputy commissioner for the state Governor’s Office of Economic Development.

The company, which plans 60 new jobs, uses special fibers to clean toxins from blood and is a subsidiary of ImmutriX Therapeutics.

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