In 1996, a group of far-sighted community leaders created South Dakota Rural Enterprise, Inc. as a statewide, non-partisan, private, not-for-profit organization. The original mission was to enhance the economic vitality of rural communities with fewer than 5,000 people, but that mission was later revised to include all of South Dakota. Our initial strategy for accomplishing this mission was to become a statewide financial intermediary, primarily serving revolving loan funds and community economic development organizations.

As we celebrate ten years of service to South Dakota, South Dakota Rural Enterprise can look back proudly on 2006. The past year has been a “tipping point” for this organization. Our consistent presence, diversified products and services and commitment to collaboration have paid off.

Through the Capital Investment Fund, Community Capital Fund, and First Children’s Finance program, we help to fill gaps in community and economic development finance. We have developed new capital products at the extreme ends of the economic development finance continuum. Dakotas America’s New Markets Tax Credit Allocation of $50 million will bring equity investments to the most distressed communities. Funding from the Northwest Area Foundation will support the development of regional micro-enterprise programs in our state.

In our work we have come to understand that community development is as important as economic development and requires a different set of tools. That is why our commitment to leadership training, partnership and resource channeling has grown over the past decade. Equally important, we have strengthened connections between the community groups and the resources available to them with the Opportunity Roundtable teleconferences, the Opportunity Roundup on our website and the successful regional Making Connections training seminar.

South Dakota Rural Enterprise has taken steps to be a leader in providing resources—financial support, leadership development, informational connections and training opportunities—to strengthen the foundation of our economy. In this effort, we have strong partners, from financial institutions to regional development organizations,  local community volunteers to the State of South Dakota, who understand and share our goals to strengthen the economy in communities across the state. We have worked hard to justify the confidence our founders placed in a not-for-profit organization that can bridge the gaps between public and private and not-for profit partners in making South Dakota a great place to live and work. After a watershed year like 2006, South Dakota Rural Enterprise is excited and renewed in our eager anticipation of the next ten years in South Dakota!

2006 AUTUMN REPORT
	Statewide groups strategize for future
	Micro-enterprise a major priority
	Combine products to boost development
	Training sessions put NMTC to work
	Ten years - and growing stronger
	Meadowlark Project

From the President:
Beth Davis