What is the Wall Economic Development Corp. and What Do We Do?

The ability of businesses to operate and flourish in Wall means more jobs for residents, an increase in financial opportunities and improvement in the overall quality of life in our area. 

But starting and running a business? It’s a challenge! From the established company to the entrepreneur looking to start, every business needs assistance to achieve success.
So, where can a business owner turn to get their questions answered?

As the Wall Economic Development Corporation (WEDC) celebrates National Economic Development Week (May 11-17), we thought it’d be a great time to outline the valuable resources we have for new, established and growing businesses in our community.

Easy Tax Structure

At the very core, WEDC is here to assist all of our local businesses and help them to grow. How? By providing support, highlighting incentives and getting them connected with the right local and state resources.

South Dakota is ranked as one of the best states in the country to do business. And on both a state and local level, it’s hard to compete with our easy tax structure that boasts:

• No corporate income tax 
• No personal income tax
• No personal property tax
• No business inventory tax
• No inheritance tax

You may also qualify for a 5-year city tax break on the construction of new structures built in our new, 85-acre Industrial Park.

Revolving Loan Fund

Did you know that WEDC has started a Revolving Loan Fund (RLF) to help businesses start, buy new equipment and expand? Over the past few years, we have grown this fund to $40,000 and are partnering with West River Foundation for Economic and Community Development for funding of larger amounts.

This community-based program provides flexible term financing at affordable interest rates for small businesses who might not qualify for funding from traditional financing options. Funds can be used for business expansion, to buy new equipment, or to get your business up and running.

As these funds are used and repaid, the interest will go back into the RLF to continue to grow the funds available for future business development and growth in the community. 

Taking Out the Guesswork

The WEDC team also can provide hands-on support to business owners in any stage of growth, from guiding you through the process of obtaining business licensing and permitting to helping you get approvals for new development projects.

Additional services we offer include:

• Business planning 
• Market research
• Incentives and financing questions
• Site selection assistance
• Permits, zoning approvals, etc. 
• Workforce relocation that can assist with new employees moving to Wall to work full-time
• Ongoing education that includes CDL Certification, Leadership Training, our Coffee Connect Series and more!

Think of the WEDC as your go-to resource to help take the guesswork out of the more challenging aspects of starting and growing a business. By streamlining the process, we are better able to help turn your business dreams into a reality! 

Your Partner For Success

In business, it truly is about who you know and finding people that can help you to achieve success quickly. By partnering with the WEDC, you’re better equipped to make informed decisions that will reduce stress and bring stability to your business.

Contact WEDC today and find a wealth of information and resources to help your business grow.

Ultimately, you will be contributing to the success of the community and building a better economy in Wall!