A $1.9 million CARES Act Recovery Assistance Grant from the U.S. Department of Commerce Economic Development Administration will support water, wastewater and roadway infrastructure to support the development. The EDA grant will be matched with $478,830 in local funds and is expected to create 1,000 jobs and generate $200 million in private investment.
“This investment comes at a crucial time for Sioux Falls’ and South Dakota’s economies to come roaring back and provide hard-working Americans with new opportunities,” said Dana Gartzke, Performing the delegated duties of the Assistant Secretary of Commerce for Economic Development. “EDA is pleased to invest this CARES Act funding to improve infrastructure to create an industrial mega-site to aid the region’s recovery. The project’s location near a Tax Cuts and Jobs Act Opportunity Zone will drive additional investment to the state.”
This grant will allow us to complete the Foundation Court loop connecting all available lots to Marion Road and opening up a number of new lots for development
“This grant will allow us to complete the Foundation Court loop connecting all available lots to Marion Road and opening up a number of new lots for development,” said Bob Mundt, President/CEO of the Development Foundation. “These funds will help us to complete the main entrance/exit to the site and proved vital in our efforts to further market Foundation Park. We sincerely appreciate the EDA’s assistance and look forward to continued success”.