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Governor Reappoints Members to Value Added Finance Authority Board







For Immediate Release: November 6, 2017
Media Contact: Maggie Stensaas, 605.773.4073



Governor Reappoints Members to Value Added Finance Authority Board


PIERRE, S.D. – Nathan Jensen of Beresford, Jim Doolittle of Belle Fourche and Jim Schmidt of Sioux Falls were reappointed to the South Dakota Value-Added Finance Authority (VAFA) board by Gov. Dennis Daugaard this month.


Jensen serves as senior vice president for First Dakota National Bank, a commercial Ag bank located in 14 cities in South Dakota. Doolittle is a long-time cattle operator in Harding County and an economic development consultant. Schmidt is a farmer in Lincoln County and serves on the Lincoln County Commission and many local boards.


The VAFA is a seven-member board appointed by the Governor. The goal of VAFA is to facilitate the retention of agricultural commodities and products in South Dakota for the maximum feasible time span during the life cycle, or use or consumption of the commodity or product. The board administers the Beginning Farmer Bond program, the Agribusiness Bond Program, the Livestock Nutrient Management Bond Program, the Value Added Sub Fund and the Value Added Agribusiness Relending Program.


“The VAFA board is made up of prestigious, experienced ag industry folks like Jim, Nathan, and Jim who so knowledgeable about agricultural finance and the industry. Our farmers, ranchers and ag business owners are fortunate to have them in their corner,” said Terri LaBrie, executive director of VAFA. 


For a list of other commissioners and more information on VAFA, please visit https://sdda.sd.gov/boards-and-commissions/value-added-finance-authority/.


Agriculture is a major contributor to South Dakota’s economy, generating $25.6 billion in annual economic activity and employing over 115,000 South Dakotans. The South Dakota Department of Agriculture's mission is to promote, protect and preserve this industry for today and tomorrow. Visit us online at http://sdda.sd.gov or find us on Facebook, Twitter and Instagram.


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