DSU To Develop a National Center For Financial Protection

Posted on Friday, October 3, 2008

The South Dakota Research and Commercialization Council announced yesterday that they have awarded a two-million-dollar grant to Dakota State University in Madison. The grant will help DSU develop a National Center for the Protection of the Financial Infrastructure.

Dr. Melvin Ustad, Director of the South Dakota Office of Commercialization, says the grant is part of the states 2010 Initiative.

DSU will be partnering with Citibank, Wells Fargo, First Premier, the Federal Reserve, the FDIC, and the Department of Homeland Security to establish the center. Ustad says they hope to see Federal dollars come in at some point.

Other 2010 Research Centers across the state have generated over 70 million dollars in activities in the last four years. That's five dollars generated for every one dollar of state investment.