Lin VanHofwegen, vice president of operations for South Dakota Rural Enterprise, has been named Managing Director for Dakotas America LLC. Dakotas America, a community development entity (CDE) with $130 million under management, was formed through a collaboration between North Dakota Rural Development Finance Corporation and South Dakota Rural Enterprise, Inc., which serves as the managing entity of Dakotas America LLC.

VanHofwegen has wide-ranging experience with economic development on the Great Plains. Prior to her work with South Dakota Rural Enterprise, she provided support services to the REED Fund, a successful revolving loan fund operated by East River Electric Power Cooperative in Madison. She also worked with the SD Value-Added Agriculture Development Center, and has experience as a small business owner, as a program staff member at a major regional medical center and in management and sales for a value added ag livestock feed company.

Dakotas America has received allocations through the New Markets Tax Credit (NMTC) program. Established by Congress in December of 2000, NMTC gives corporations the opportunity to receive a credit against federal income taxes by investing in projects in geographic census tracts identified as distressed by the CDFI Fund of the U.S. Department of Treasury. Investors can earn attractive rates of return while meeting a community need, qualified businesses gain access to development funds at reasonable rates and community development entities fulfill their mission by helping stimulate economic growth and job creation in distressed communities.

Van Hofwegen will continue to serve South Dakota Rural Enterprise in her role as Vice President of Operations.

For more information about New Markets Tax Credits or Dakotas America, go to www.dakotasamerica.com, phone 605-978-2804 or e-mail lin@sdrei.org.

2010 WINTER REPORT
	New Markets Tax Credits impact Dakota towns
	Don't look back-set goals for tomorrow
	VanHofwegen named managing director for Dakotas America
	Focusing on our purpose makes us more effective
	Capital Investment Fund reaches $12 million
	Entrepreneurs exchange ideas at Mobridge meeting