South Dakota Receives US Small Business Administration STEP Grant

Friday, November 11, 2016

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The Governor’s Office of Economic Development (GOED) announced today that it was awarded another grant from the United State Small Business Administration (SBA), this time a State Trade and Export Promotion (STEP) grant in the amount of $116,250. The SBA recently awarded GOED a FAST grant to promote entrepreneurs and commercialization of innovations.

“Trade is vital to our economy. South Dakota had close to $1.4 billion in exports in 2015,” said Gov. Dennis Daugaard. “This grant will support businesses in our state that wish to export products to new markets across the world.”

The STEP grant program is an export initiative that provides matching funds to states that assist small businesses with international trade development. The program’s objectives are to increase the number of U.S. small businesses that export and the value of those exports. State government organizations manage STEP activities locally, while the SBA’s Office of International Trade manages activities at the national level.

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Category: Business/Finance/Economy