Legacy Electronics, Inc. Approved For A REDI Loan, Plans To Increase Workforce
Monday, March 9, 2015
CANTON, S.D. – Legacy Electronics, Inc., based in Canton, S.D., was approved today for a REDI (Revolving Economic Development & Initiative) Fund Loan by the Board of Economic Development. The company is a designer and manufacturer of high-density memory modules, circuit boards and solid-state drives (SSDs).
“The REDI Fund is designed to help businesses expand and promote job growth and Legacy Electronics, Inc. is doing exactly that,” said Gov. Dennis Daugaard. “Whenever we can offer assistance through funding that supports the creation of quality, technical jobs, I’m pleased to do so. Many thanks to Legacy Electronics and their entire team for their continued investment in South Dakota.”
The approved funding will go toward purchasing the existing building the company leases, as well as the construction of a 1,500 square-foot addition, which will give the company a total of 35,000 square-feet for production and 7,000 square-feet for office and warehouse space.
“Working with the GOED and local leadership has been a great experience,” said Jason Engle, CEO, Legacy Electronics. “When we moved our company to South Dakota from California in 2011, we knew to expect a better, friendlier business climate. But what we got far exceeded our expectations.
“The GOED demonstrates an unfailing commitment to South Dakota and its businesses, and is genuinely dedicated to providing businesses with options and advice when it comes to expanding and relocating. The loans are viable and they give business owners a chance to grow and succeed. Plus there’s a program for almost everything a company needs. South Dakota is pro-active and pro-business, and it’s a pleasure to expand our business here,” Engle added.
“In the time that Legacy Electronics has been in Canton, they have had a significant impact on the community,” said Nick Fosheim, executive director, Lincoln County Economic Development Association. “We look forward to our continued partnership and Legacy’s bright future and anticipated growth.”
With the help of the REDI Fund loan, Legacy plans to double its capacity and increase its workforce in the next three years.