MEGA INDUSTRIAL SITE SLATED FOR SIOUX FALLS
Megasite is "game-changer" for Sioux Falls development
Sioux Falls and state officials told a crowd of nearly 300 people from the Sioux Falls business community and media organizations that Foundation Park will be a “game-changer” in attracting new companies to Sioux Falls. Foundation Park is the state’s first economic development megasite—and that brings a new class of economic development potential to the table.
Created in partnership with the Governor’s Office of Economic Development, the City of Sioux Falls and Forward Sioux Falls, the 820 acre Foundation Park lies at the intersection of Interstates 90 and 29. Within minutes of the Sioux Falls Regional Airport and featuring full service by the BNSF railroad, the new development park is at a regional transportation crossroads.
Governor Dennis Daugaard and Mayor Mike Huether both praised the willingness of the Sioux Falls Development Foundation to step up and create new opportunity for our state’s economy by spearheading the effort to locate a megasite here. The state is investing $11.5 million in REDI Fund and Future Fund money to help build Foundation Park, while the City of Sioux Falls is planning critical infrastructure to enhance the new megasite.
Development Foundation chairman Scott Lawrence was master of ceremonies at the event, which was streamed live by media outlets and had an extensive social media footprint. Dave Rozenboom represented Forward Sioux Falls, a vital partner in the endeavor, and the details of the new park were outlined by a high-energy video and Development Foundation president Slater Barr. Pat Costello, commissioner of the Governor’s Office of Economic Development and key player in the development of Foundation Park since its early conception, introduced Governor Daugaard to the enthusiastic crowd.
The creation of Foundation Park is the latest in a historical line of industrial parks offered by the Sioux Falls Development Foundation. Beginning in the early 1970s with the 200 acre Sioux Empire Development Park I, the Development Foundation has expanded to nine parks, with 140 companies and 13,000 employees encompassing 1,351 acres.
The genesis of Foundation Park began three years ago, when the Development Foundation was working to recruit a very large international manufacturing firm that required a site of several hundred acres with rail service. SFDF optioned acreage and Sioux Falls was a prime contender for the company, until the project went on indefinite hold. The Governor’s Office of Economic Development and SFDF recognized the potential of the location for future large projects, and, with the addition of other contiguous land, the state’s first megasite was born.
Foundation Park’s size 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 mega-project.