State and local officials committed $6.5 million in taxpayer dollars for a low-interest loan for the Tru Shrimp project this winter, including $5.5 million directly from the governor’s Future Fund. Weeks after the Future Fund money was approved, Tru Shrimp announced it was building in Madison and moving away from previous plans to build its first plant in Luverne, Minnesota.
Money from state and local agencies, however, has not been enough to justify starting. It will help Tru Shrimp prepare for the Madison site, and is being used to help cover research and development costs at Tru Shrimp’s Balaton, Minnesota-based facility, Brink-Thordson said [Patrick Anderson, “Tru Shrimp Plans Delayed in Madison, But Company Says it Remains Committed,” that Sioux Falls paper, 2019.06.25].
Read that carefully, friends and fellow South Dakota taxpayers. “Tru” (ah, that’s why they left off the e, to avoid false advertising charges) Shrimp not only hasn’t followed through with its promise to build a shrimp factory in Madison this summer, but it also has found a way to collect South Dakota tax dollars and pump them directly into the Minnesota economy.
Governor Tim Walz must be laughing.