By: Kent Cutler, 2025 Sioux Falls Development Foundation Board Chair
Many companies look to the future to plan for what they believe will be a profitable path forward. Strategic planning is a part of most companies’ operating procedures and may involve a complex process for forecasting growth, anticipating opportunities and threats, and laying the groundwork for moving forward profitably. In a world changing fast, these plans now may only look forward three to five years with any degree of certainty and allow for critical adjustments if needed quickly.
The Sioux Falls Development Foundation also follows a strategic planning process that anticipates the growth of Sioux Falls as it relates to economic and workforce development and the state and national trends that may affect our growth.
Available land for development that is adjacent to the city and provides for city services is critical. Companies looking for land to expand – whether internal or external – need build-ready property to make sure their schedules for increasing product demand can be met. These sites need to be served by local utilities including water, sewer, electricity, gas, and communication services and meet transportation needs for the companies and the public in general. All this takes a coordinated effort on behalf of the Development Foundation, the City and the State with planning well in advance.
In addition, the workforce needs of our existing companies and the ones locating here are changing and advancing. Competition and technology are forcing companies to update equipment and retrain employees. New graduates must possess the skills needed to operate and maintain modern equipment, so our educational institutions need to be training for the jobs and technology of the future. Companies must anticipate the needs of the future and adjust their technology and training to compete, and the Development Foundation and the State must partner with education and training institutions to make sure our workforce is ready for the available jobs.
The feasibility analysis of the Forward Sioux Falls campaign anticipates these trends and developed a five-year plan of action to address changes and move Sioux Falls forward. The Sioux Falls Development Foundation works with the Chamber and partners to address economic development and workforce challenges. Through workforce recruitment, retention, and retraining, the Development Foundation leverages the funds from Forward Sioux Falls to increase the number of people in the employment pipeline. Research helps anticipate the need for specific skill sets to grow your business.
Like your business, we will plan for the challenges of tomorrow and anticipate as best we can what the Sioux Falls economic and employment landscape will look like in the future. We hope you choose to invest in the Forward Sioux Falls campaign and be a part of creating the future.
Thanks for all you do.