Dakota Energy assists area development groups in our communities, including the Greater Huron Development Corporation and the On Hand Development Corporation. Dakota Energy also helps individuals through the Rural Electric Economic Development loan fund.
Rural Electric Economic Development, Inc. (REED Fund):
The Rural Electric Economic Development, Inc. (REED) Fund provides financing for business and community projects in partnership with commercial and other economic development lenders to leverage private investment and make a difference in the region it serves.
The REED Fund was established in 1996. REED assists projects that promote growth and contribute to jobs, business, and wealth creation, as well as projects that improve infrastructure, community facilities and services, and the economic base of rural areas.
REED makes loans to for-profit businesses, not-for-profit organizations, and local governments. Projects include, but are not limited to:
- Small and medium-sized companies and cooperatives engaged in manufacturing, retail, service and tourism industries
- Community projects relating to water/wastewater, healthcare, education, telecommunications, public safety, recreation and the arts
- Producer-owned businesses and cooperatives that add value to agriculture
- Multi-family rental housing with strong community support
- Efficient use of energy is encouraged for all projects and is also an eligible activity
- Applicants do not need to be a member/consumer of a rural electric cooperative to apply
REED demonstrates the cooperative principles of commitment to community and cooperation among cooperatives in a meaningful way that adds value to the region.