If you have roots in South Dakota, you probably have family stories about the Great Depression. The dust storms, drought and loss of farms all gave rise to a frugality that has stayed with us ever since. As one of the hardest-hit states, unemployment soared and many breadwinners signed up for the alphabet programs of the Roosevelt Administration, such as the Civilian Conservation Corps and the Works Progress Administration.

Today we find ourselves in a 21st century version of financial distress in many sectors of our economy. Although insulated from some of the direct hits felt in other parts of the country, South Dakota is beginning to feel the repercussions of these changes. Main Street retail businesses and restaurants are already finding that fewer are buying in anticipation of shortfalls in many personal and business budgets. Other businesses are experiencing a tightening credit market, causing some plans to be postponed or abandoned altogether.

The United States is already reacting to stem this tide. The federal response has been a $700 billion financial rescue package, signed by President Bush. During the presidential campaign, President-elect Obama presented other economic stimulus plans, including $150 billion over the next 10 years for renewable energy and $60 billion for infrastructure investments. Under his administration, renewable energy and infrastructure improvements will be good strategies for South Dakota.

Whether it is renewable energy, construction or other services and industries, are we ready to step into the future with confidence? Yes, we are! South Dakota Rural Enterprise is positioned to help with funding and related programs to support new and existing businesses as they grow. Our Capital Investment Fund, which provides capital to revolving loan funds throughout the state, can help meet financing demands more traditional markets are unable to do at this time.

In addition to financial resources, times of economic stress also demand a focus on efficiency, effective leadership and the power of new ideas. South Dakota Rural Enterprise has always believed these elements are essential to creating and maintaining the economic strength of our communities. That is why we offer training programs for board members and staff of community development organizations. That is why LeadershipPlenty South Dakota and Creating Value Added Communities have proven effective in small and large communities all across our state. And that is why excitement is high for Dakota Rising, the entrepreneur development program that has already begun in four pilot areas in South Dakota.

The same South Dakota traits which served us well 70 years ago-helping each other in times of trouble, storing up resources for seasons of want and looking to the future with confidence in our ability to make it through to better times-will make the difference in our communities today. Let us know how we can partner with you to build your community's economic confidence.

2008 AUTUMN REPORT
	Entrepreneur Fairs focus on the future
	South Dakota heritage will serve us well today
	Development Institute provides creative networking opportunities
	CVAC communities are building success
	SAVE THE DATE
	Positive actions for troubled economic times
	Qualifying is easier for the 2008 Dakotas America New Markets Tax Credit allocation
	New Markets Tax Credit Low Income Communities by County
	Gregory and Lakota Fund receive "Success Stories" awards