The eight area banks that came together to create a new $16 million financing package to support the infrastructure build-out in Foundation Park are illustrating their understanding of the park’s role in the future of Sioux Falls. These business leaders know that the size and scope of Foundation Park make it a game-changer in the economic growth of our community.
This vote of confidence by the Sioux Falls banking community comes at a critical time in the development of Foundation Park. Grading at the site has prepared the way for the next vital steps in making the park ready for companies to occupy. The Development Foundation is in conversations with several businesses right now that could necessitate rapid progress on streets, utilities and railroad connections in the park. These projects are very large—historically large in terms of land sales and their potential for employment and economic growth in Sioux Falls. We must be ready to move fast to prepare sites in Foundation Park to be build-ready. The bankers financing package give us the flexibility to do just that.
Foundation Park is important to our community not just because of new businesses and new jobs, but because of the kinds of jobs it is designed to bring to Sioux Falls. This scale of development creates a wide variety of jobs, ranging from entry-level to highly trained professionals—and including a large number of middle-class jobs, which we need in Sioux Falls. Tremendous growth in households at the upper and lower ends of the wage spectrum has occurred, but we need to create a strong middle class to build a future for families throughout the earning spectrum. Foundation Park offers a strategy to accomplish that goal.
Foundation Park positions our community for a stronger economic future. Thanks to far-sighted leaders like the Sioux Falls bankers, we’re on track to get Foundation Park growing.
There is better training for our workforce in Sioux Falls. A multitude of options are available to meet businesses' needs at the postsecondary level including city programs, state grants, technical training, and a new $50 million scholarship program for technical school students.Read More