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Local Incentives
Discretionary Formula for Reduced Taxation Reduced taxation for new commercial structures or additions to existing structures a. 20% of the assessed value for the first year; b. 40% of the assessed value for the second year; c. 60% of the assessed value for the third year; d. 80% of the assessed value for the fourth year; e. 100% of the assessed value for the fifth year and all years thereafter.
Municipal Sales and Service Tax and Use Tax Refund The City of Elk Point may agree to a refund, in whole or part, of the Municipal Sales and Service Tax and Use Tax paid by a business or person on the purchase of material for use in remodeling, rehabilitation, or constructing a structure; and/or the purchase of equipment and furnishings for a business.
Affordable City Utility Rates Utility rates and further information available by calling the City of Elk Point at (605) 356-2141
Loan Fund
The REED Fund is a non-profit tax-exempt 501(c)(3) corporation, formed through the collaboration of rural electric cooperative members of East River Electric Power Corporation offering loans to eligible businesses supporting growth and development and business ownership opportunities.
Work Force Development Programs Regional Technical Education Center (RTECH) located in Yankton, SD offers various workforce development training programs in advanced manufacturing, AWS Certified Welding, CDL truck driving and CNC Machining.
State Incentives
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