Foundation Park Receives Grant
The US Economic Development Administration (EDA) has awarded a $1,694,575 grant to the Sioux Falls Development Foundation to fund construction of critical rail infrastructure and related projects in Foundation Park, an 820-acre site under development in northwest Sioux Falls. EDA grants are awarded through a competitive process based upon the merit of the project under consideration and its economic impact.
Created in partnership with the Governor’s Office of Economic Development, the City of Sioux Falls and Forward Sioux Falls, Foundation Park lies at the intersection of Interstates 90 and 29, within minutes of the Sioux Falls Regional Airport. One of the major elements planned for the new development park is full rail service by the BNSF Railway, which will be facilitated by the EDA grant.
When completed, the new rail service will enhance the marketability of the region by providing existing businesses access to much needed rail connections for their shipping and receiving needs allowing them to expand; and serve as a catalyst for attracting new industry to the Park.
“The EDA grant recognizes the potential of Foundation Park as an economic driver for our region,” said Development Foundation vice president Dean Dziedzic. “Bringing full service railroad facilities to Foundation Park could create jobs and leverage private investment. The $3.4 million construction of rail infrastructure will be a major step in opening Foundation Park to a larger number of potential new businesses.”
Foundation Park, South Dakota’s first megasite, allows for maximum economic advantage by spreading infrastructure development costs over a large footprint. Phase I of the development is zoned for larger manufacturers, many requiring rail service, while Phase II is reserved for a single large project.