PIERRE, S.D. – The South Dakota Board of Economic Development approved funding for two projects through the New Frontiers and Reinvestment Payment programs. The projects support innovative medical research, job creation, and energy infrastructure investment in South Dakota.

“South Dakota is a place where innovation and investment can thrive,” said Governor Larry Rhoden. “From cutting-edge medical research to major energy projects, these investments are creating jobs, strengthening our communities, and ensuring South Dakota remains Open for Opportunity.”

The board approved a New Frontiers payment of up to $8,845.87 for OmegaQuant Analytics LLC in Sioux Falls to support research and development associated with a $320,864 National Eye Institute grant awarded through the U.S. Department of Health and Human Services.

The project focuses on developing blood-based fatty acid testing methods to help predict the early onset of macular degeneration and glaucoma. The research has the potential to lead to new commercially available diagnostic tools developed and offered from South Dakota.

OmegaQuant currently employs 12 people in South Dakota and anticipates adding eight full-time positions over the next five years.

The board also approved a Reinvestment Payment of up to $6,102,702 for Philip Wind Partners LLC, to support construction of a wind energy facility in Haakon County.

Located north of Philip, the project includes 87 wind turbines, underground collection and communication systems, a collector substation, and an operations and maintenance building. Construction began in July 2026, and the facility is expected to become operational in January 2028.

The project is expected to support approximately 150 construction jobs and create eight permanent full-time positions over its anticipated lifespan. It is also projected to generate approximately $80 million in payments to landowners and agricultural producers and $47 million in capacity and production taxes benefiting Haakon County, local schools, and the state.

“Economic development means supporting businesses at every stage, from emerging technologies with commercialization potential to major infrastructure investments,” said GOED Commissioner Bill Even. “These projects demonstrate the range of opportunities available in South Dakota and how our economic development tools can help businesses innovate, invest, and create long-term economic benefits for our communities.”

The New Frontiers program supports qualifying research and development projects with the potential to generate future economic development or commercialization opportunities in South Dakota. The Reinvestment Payment Program provides incentives for qualifying projects involving new or expanded facilities. Both programs are administered through the Governor’s Office of Economic Development and are subject to eligibility requirements established in state law and board policy.

xxx