By: Clark Meyer, 2026 Sioux Falls Development Foundation Board Chair
With the announcement of the Smithfield project in Foundation Park, the City of Sioux Falls, the Sioux Falls Development Foundation and the region enters a new chapter in economic development. An opportunity to keep the area’s fourth largest employer in our community for years to come, with a state-of-the-art food processing facility benefiting our regional ag economy as well as the hundreds of companies that do business with Smithfield.
Months of analysis, negotiating, planning, problem solving and decision making went into the project to bring it to the time of the announcement. With confidentiality and non-disclosure agreements in place, the Development Foundation along with our partners at the City of Sioux Falls and the Governor’s Office of Economic Development (GOED), were able to cooperate, coordinate and reach consensus with the company to create this once in a lifetime opportunity.
Since its inception in 2015, Foundation Park has created hundreds of millions of dollars in new tax base for the region and has created or retained over 8,000 jobs. As the state’s first industrial mega park, Foundation Park has exceeded expectations and is a testament to the past leaders of the city, the state and the Development Foundation. Foundation Park itself has positioned the reputation of Sioux Falls as a major player and an option for large, global companies including Amazon, FedEx, Lineage Logistics, CJ Schwan’s and now Smithfield.
The Sioux Falls Development Foundation was created in the 1950s and through development in nine Industrial Parks, it has certainly accomplished its purpose and objectives. We will continue to evolve and look for ways to assist in the growth and development of Sioux Falls and the region through expansion of the tax base and the retention and creation of quality jobs and companies for the region.
A huge thank you to our past Chair, Kent Cutler, and the Foundation Board of Directors for their leadership through this ever-changing time needing strategic insight. Their strength and fortitude have made us what we are today, and we’ll strive to continue this momentum. And as always, thank you to all our investors for your support.