Category: Directions Newsletter

By: Ryan Boschee, Sioux Falls Development Foundation Board Chair

As I end my year as Chair of the Development Foundation Board, I want to thank my fellow Board members and the staff of the Development Foundation for their work over this past year. 2024 marked the 70^th Anniversary of the Sioux Falls Development Foundation. We were “Shining the Light” on recent successes at our Annual Meeting in November, including:

• 156 acres sold in Foundation Park
• 92 meetings with existing industry resulting in 35 action items
• Saw CJ Foods begin construction on their 750,000-square-foot facility
• Saw Avera/Owens & Minor begin construction on their 350,000-square-foot building
• Saw Presidio Manufacturing begin construction of their 200,000-square-foot facility
• Optioned almost 300 acres of property for 2025
• Helped create over $800M in new capital investments and over 1,000 jobs
• Completed all infrastructure buildouts in Foundation Park North to create site-ready property for future development
• Moved the Riverline development project forward to include City control of the site
• Began moving houses on North Minnesota Avenue to make room for new developments north of the Good Samaritan complex
• Connected over 21,000 potential workers to 259 unique employers in the region
• Hosted over 300 interns in Sioux Falls in 2024
• Hosted over 800 high school students in Career Connections programming
• Completed construction and opened the Health Sciences Clinical Simulation Center
• Implemented several marketing programs promoting Sioux Falls to site selectors, corporate brokers, and targeted industries
• Implemented the “Wish You Were Here” campaign to bring former students, family, and friends back to Sioux Falls

I want to thank our retiring Board members, Dr. Brett Bradfield, Steve Watson, and Steve Kolbeck, for the years of service to the Foundation. Their skills and talents will be missed. I also want to welcome three new Board members, Chris Daugaard, Jason Kjenstad, and Marla Meyer to the Board.

2025 will be another busy year for the Foundation and our partners with the beginning of the next Forward Sioux Falls campaign, several options coming due, and our continued work in talent and workforce development. I look forward to working with our incoming Chair, Kent Cutler, to transition responsibilities and continue moving this organization forward. Thank you for a great year and a memorable experience leading this organization.

By: Bob Mundt, President and CEO

Recently, the Development Foundation Board of Directors laid the groundwork for 2025 with some key directives. We will begin working on these as we move through 2025.

Developing future land inventory

• Work with City to align possible locations based on existing and planned infrastructure development timelines
• Develop financial feasibility and modeling similar to Foundation Park
• Develop a timeline for acquisition over the next three years

Explore regionalism as it relates to economic development

• Work with SMGA to identify potential partnership opportunities for land development in surrounding communities
• Work with SMGA to market the region more holistically

Talent & workforce development

• Implement workforce development initiatives on a more regional basis
• Continue focus on retention and attraction of talent
• Innovate programs with universities and tech schools to ensure more graduates stay here
• Continue to grow internship programs through higher education programs and business collaboration

Build a community land bank directed at workforce housing initiatives

• Develop a sustainable funding mechanism
• Develop a sustainable program to perpetuate annual housing growth in this space

Leverage Falls Area Development Corporation for redevelopment of targeted areas

• Riverline
• Identify additional redevelopment sites
• Develop an on-going funding source for acquisition

Develop and refine a true progress dashboard

• Define critical measures
• Assemble data
• Create a dashboard we can use for Board and Investor reports

The Sioux Falls Development Foundation made significant strides in 2024, focusing on what truly matters to employees: work-life balance, career growth, and community support. The Foundation’s efforts centered on attracting talent for key industries like construction, financial services, healthcare, law enforcement, manufacturing, and retail while also developing the next generation of skilled workers among middle and high school students.

2024 Highlights: Connecting People and Opportunities

In 2024, the Foundation connected 20,882 people to Forward Sioux Falls partners through its comprehensive workforce initiatives, creating tangible, long-term value for talent pipelines and businesses:

• Connecting nearly 3,000 college and high school senior students with employers through Talent Tours and Talent Draft Days aimed at building relationships with potential employers early in their careers.
• Building the career and educational readiness for over 1,600 high school and middle school students through hands-on experience through job shadows and internships via Career Connections and Your Future STEM in partnership with 16 regional school districts, colleges and universities.
• Engaging and immersing 378 college students into the Sioux Falls community through INTERN Sioux Falls, helping build a skilled workforce.

These initiatives not only enhance talent pipelines but also solidify our role as a leader in workforce development. This leadership ensures strong returns for investors and sustainable growth for our community, instilling confidence in our stakeholders.

Looking Ahead to 2025: Building on Success

In 2025, the Development Foundation is poised to build on its success and expand its impact. The plan is to continue attracting talent and strengthen partnerships with educators. Key initiatives for the year include:

Bringing Talent Draft Day programming to college campuses to engage more college students in employment and internship opportunities at on-campus career fairs.

Upcoming spring 2025 events include:

• University of South Dakota’s Internship Fair on January 15
• Dakota State University on February 19
• Augustana University on February 26

Employers interested in participating are encouraged to connect with Riley Johnson at rileyj@siouxfalls.com to register.

Launching the inaugural INTERN Sioux Falls Best Practices Luncheon on February 6 to support employers interested in hosting internships. College internships provide a crucial opportunity for employers to build a sustainable talent pipeline and serve as a key differentiator for college graduates when selecting employment. Space is limited, so employers are encouraged to reach out and contact Denise Guzzetta at deniseg@siouxfalls.com for details.

Partnering with higher educational institutions to enhance employees’ digital, construction and transportation competencies with UPSKILL Sioux Falls. This program, created in 2022, continues to provide funds to support Forward Sioux Falls partners with employee training and development needs.

The Sioux Falls Development Foundation remains unwavering in its commitment to fostering a vibrant workforce. The Foundation’s focus on opportunities for growth, connection, and meaningful work-life balance continues to be the driving force behind its efforts.

The fourth quarter is busy for many reasons, but particularly for groundbreakings! Businesses are working to start construction on their new locations and expansions before the snow flies. The fourth quarter of 2024 was no different, and the Foundation helped several businesses celebrate the start of construction on new projects.

See photos and recaps of each groundbreaking that took place!

By: Dean Dziedzic – Vice President of Economic Development

Trade shows, conferences and site consultant forums are just a few ways that the Sioux Falls Development Foundation strategizes to attract and recruit new business opportunities to the Sioux Falls region. In the past few months, we’ve attended and participated in the Area Development Site Consultant Forum and the Logistics Development Forum.

At these events there’s a diverse audience of industry leaders, potential investors, and influential decision-makers under one roof. For economic developers, these events offer a unique platform to highlight the strengths and opportunities of their regions. Beyond the surface-level exposure, the true value lies in the chance to engage directly with site consultants—individuals who hold significant sway over corporate relocation and expansion decisions.

Site consultants play a pivotal role in guiding businesses through the complex process of selecting new locations. Their recommendations can lead to substantial economic benefits for the regions they endorse. By attending these events, we strive to establish and nurture relationships with these consultants, showcasing the Sioux Falls region’s unique selling points and addressing specific queries or concerns.

At both the Site Consultants Forum and Logistics Development Forum we were able to engage consultants in face-to-face meetings. This type of marketing is more impactful than traditional marketing methods. These interactions allow for immediate feedback, deeper discussions, and the ability to tailor pitches to the needs and preferences of each consultant. This personalized approach helps build trust and rapport, increasing the likelihood that a consultant will consider or recommend Sioux Falls in their future projects.

Over the years the Development Foundation has engaged with site consultants on many fronts. We view this as more than just a networking opportunity—it’s a strategic move for our community to elevate Sioux Falls. By investing time and effort into these events, we can build meaningful connections, gain critical insights, and position Sioux Falls as a top contender for new business investments. In a competitive economic landscape, the relationships and knowledge gained at these events can make all the difference in achieving long-term success and growth.

 

By: Bob Mundt, President and CEO

Oftentimes we as economic developers struggle with balancing the resources of our communities with the benefits of an economic development project. The Sioux Falls Development Foundation works closely with city, state and utility officials to determine those limitations and stay within those parameters to balance residential, commercial and industrial growth. In short… smart growth.

As an organization, we have developed an “economic impact scorecard” to help us analyze whether a potential industrial prospect or an expansion project is a fit for our resource allocations. The form breaks down the critical elements and needs of the project and measures them against critical measurements to determine overall impact.

Variables we consider:

• Total Expenditures: CAPX for building and equipment to determine potential tax revenues.
• Job Creation: Overall wages and individual salaries (the higher the better).
• Benefits Package: Health and dental insurance, 401K plans, flex benefits.
• Property Tax Revenue: Projected assessed value for the building for tax purposes.
• Community Impact: Impact on infrastructure, schools, housing, support services.
• Risk Assessment: Market and labor stability over time.
• Environmental Impact: Air, water, wastewater, noise, and visual presentation.
• Energy: Balance of energy usage between renewables and traditional; how much are we willing to allocate to a project?
• Current Business Impact: Local suppliers, services and cross business utilization.
• Sustainability: Is it a growing business or a declining business?
• Community Give Back: Will they participate in the “Sioux Falls Way”?

The higher the prospect scores on the assessment the more likely we may be to offer incentives and assistance to locate in the community.

As we see across the country, natural resources including land, water, energy and the workforce are at a premium. Those communities who take a calculated approach to sustainable development will reap the benefits. We believe Sioux Falls and our region are on the right track, and must continue to work together to meet the critical needs of the future.

By: Ryan Boschee, Sioux Falls Development Foundation Board Chair

In 1954, a group of community leaders had the foresight and vision to create the Sioux Falls Development Foundation in an effort to grow our economy through the recruitment and retention of business and industry. The main driver behind the effort was the availability and control of land that could be used as an incentive to bring new companies to Sioux Falls and allow existing companies to expand. Creating new tax base and growing employment was the goal.

This year at our annual meeting on November 21 at the South Dakota Alliance, the Foundation will be celebrating 70 years of pursuing and meeting that mission, as well as our expanded role into talent and workforce development, and urban redevelopment. The Foundation continues to develop industrial park land to grow the tax base and expand employment, including our latest 1,000-acre Foundation Park, Sioux Empire Development Park 8, and seven others. The Foundation, through Forward Sioux Falls, has expanded our role to include talent and workforce development and urban redevelopment, also focusing on expanding the tax base and growing employment.

As the current Chair of the Board for the Sioux Falls Development Foundation, I am proud to continue a strong tradition of leadership in building our economy and growing our workforce. 70 years of planning, risk taking, and community cooperation has resulted in Sioux Falls becoming one of the fastest growing and most admired communities in the country.

This growth doesn’t happen by accident and continued growth will need to be carefully planned and executed. Taking into account our accelerated growth, available resources and maintaining a high quality of life will take vision, planning and smart policies to make sure we grow while maintaining our high standards and community values.

I invite you to attend our Annual Meeting on November 21 at the Military Alliance and help us celebrate our past and plan for our future. We’re proud of our past and excited about our future. Thank you for being a part of both.

It is with great sadness that we mark the passing of our friend and former Chairman, Lyle Schroeder. Lyle served as the longtime President of Sioux Valley Hospital and a leader within our corporate community. He shared his time and talent with numerous organizations and non-profits throughout Sioux Falls and South Dakota.

As general chairman of the inaugural Forward Sioux Falls campaign in 1987, Lyle organized volunteers and raised over $1.9 million to create new jobs, stimulate capital investment, and propel Sioux Falls into the ‘90s against increased competition from major cities.

Lyle served on the Forward Sioux Falls Joint Venture Management Committee for a number of years and was elected to the Development Foundation Board. He served on the Executive Committee and as Chair in 1995. In 1996 we honored him with the Spirit of Sioux Falls Award in recognition of his service to the Development Foundation, Forward Sioux Falls, and our community.

Our condolences to Lyle’s family and friends.

The Spirit of Sioux Falls Scholarship endowment was established by the Sioux Falls Development Foundation and more than 100 businesses and individuals to honor the memory of Roger Hainje, Angus Anson, and David Birkeland, each of whom were Sioux Falls business and economic development leaders who lost their lives along with Governor Mickelson and four state officials April 19, 1993. They were on an economic development mission to retain one of the state’s largest employers.

Annually, the Sioux Falls Development Foundation awards scholarships to Sioux Falls residents or students who have completed at least one year of post-secondary work in business-related areas of study.

The student selected for the 2024 Spirit of Sioux Falls Scholarship is Andy Van Surksum. Van Surksum is a recent graduate of Southeast Technical College pursuing a bachelor’s degree in Accounting at the University of Sioux Falls.

The Foundation congratulates Van Surksum on his achievements as he continues to pursue his academic and career goals.