SD Cancels Contract With EB-5 Center
by Associated Press
November 02, 2013 1:07 PM
The South Dakota Governor's Office of Economic Development has terminated its contract with a regional center that handles a U.S. immigration foreign investment program.
Documents show the state office ended its agreement with the South Dakota Regional Center in September.
Construction of the idled Northern Beef Packers plant was spurred by funds from the EB-5 program, in which foreign investors can secure permanent residency for as little as $500,000.
Former plant officials say federal investigators have been asking questions about the plant's finances and EB-5.
Gov. Dennis Daugaard's spokesman Tony Venhuizen says the economic development office for now will handle what the regional center did.
Daugaard acknowledged Wednesday there is an ongoing investigation into GOED involving possible financial misconduct prior to his administration.