By: Ryan Boschee, 2024 Board Chair
I am honored to serve this year as the Chair of the Board for the Sioux Falls Development Foundation. Our organization has served as the catalyst for economic development efforts since the 1950s and will continue to be a valuable partner in development efforts moving forward.
As we enter 2024, Foundation Park continues to be the right decision for Sioux Falls. Conceived in 2015 as a partnership effort to lure a large manufacturing project to Sioux Falls, the Development Foundation worked with the City, the State and Forward Sioux Falls to develop the 1,000-acre industrial park. The purpose was to attract new companies and help existing companies to grow and expand, which would raise the tax base and create jobs and opportunities in the region. In 2017, we were able to attract our first tenant and the growth continued.
Today, Foundation Park generates over $6 million in property taxes annually, has contributed over $12 million in development fees and is home to over 2,500 jobs. With over 500 acres remaining to sell and with CJ Foods and Avera/Owens Minor preparing to build this summer, the growth and development continues, promising to double the jobs and continue adding tax base and fees for the community.
In addition, the Foundation continues to work with existing businesses in helping to grow their businesses; assisting 21 companies with growth and expansion plans last year. This has led to Site Selection Magazine ranking Sioux Falls #1 in the country per capita for new and expansion projects.
Workforce development has also been a key element of our efforts. Since 2018, the Development Foundation has led efforts to recruit and retain talent in the Sioux Falls region. Working with employers, universities, tech schools and local high schools, the Foundation has created a pipeline of talent for local employers and helped grow our labor and talent pool.
What our forefathers started over 60 years ago is thriving today, making Sioux Falls a growing and thriving metropolitan area now recognized nationally for responsible growth. The Development Foundation is in a good position to continue our progress and will look for new and creative ways to help the Sioux Falls region thrive. I look forward to leading the Board this year and to working with staff and community leadership to seek new solutions to our challenges.