Business groups join forces to support industrial tax break
PIERRE, S.D. (AP) - A group of South Dakota businesses, chambers of commerce and other organizations have joined forces to support a referred measure that would set up a program to give tax refunds to large industrial projects.
The Republican-controlled South Dakota Legislature passed the measure last year at the urging of Republican Governor Dennis Daugaard. It will provide grants to offset the cost of construction taxes on projects that cost at least $5 million.
The governor says the program will attract more businesses to South Dakota. But Democrats collected enough signatures to refer the measure to a statewide public vote in November. Democrats argue the money set aside for business grants would be better spent on education.
Seventeen business-oriented groups announced Tuesday they will work to get voters to approve the law.
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