Foundation Park is South Dakota’s First Megasite
Tuesday, June 2, 2015
SIOUX FALLS, S.D. – World-class businesses are looking for world-class sites—and the Sioux Falls Development Foundation (SFDF) is announcing the creation of the state’s first economic development megasite: Foundation Park in northwest Sioux Falls.
Created in partnership with the Governor’s Office of Economic Development, the City of Sioux Falls and Forward Sioux Falls, the 800+ acre Foundation Park lies at the intersection of Interstates 90 and 29. Within minutes of the Sioux Falls Regional Airport and full service by the BNSF railroad, the new development park is at a regional transportation crossroads.
“World-class companies require global connectivity,” said Slater Barr, president of the Sioux Falls Development Foundation. “With high capacity utility and communication infrastructure in place and the transportation options this site offers, we can appeal to some of the largest projects in the country.”
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. But the size of Foundation Park called for partnership to make the megasite a reality.
“The magnitude of the project, in acquiring this much land and developing it for our state’s largest potential new businesses, required the cooperation of all of our active economic development partners,” Barr said. “From the beginning of the concept, the Governor and City officials were engaged in the process and enthusiastic supporters of this site.”
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 has several unique and defining characteristics,” said Gov. Dennis Daugaard. “In addition to the location’s robust infrastructure, including access to two major interstates and rail, the site draws from South Dakota’s largest population base in a nationally-recognized, fast-growing economy. Paired with South Dakota’s unparalleled business climate, Foundation Park gives our state the opportunity to attract larger national and international projects.”
Foundation Park’s size, at more than 800 acres, 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.
“Foundation Park will prove to be an economic development and job creation juggernaut for Sioux Falls and South Dakota,” said Sioux Falls Mayor Mike Huether. “The teamwork and collaboration in making this a reality is a strong case study for business and government across the United States. The City of Sioux Falls is a proud partner in this historic endeavor.”