By: Bob Mundt, President & CEO
My parents always encouraged me that when opportunity knocks, you’d better be prepared to answer the call.
When the opportunity for Smithfield Foods to relocate out of our downtown presented itself, they were considering other locations outside the state. It was our task to make sure they stayed here. As the region’s 4th largest employer tied to thousands of direct and indirect jobs in the region and the tremendous impact on South Dakota’s ag economy, we had the obligation to do our best to keep them here in Sioux Falls.
Opportunity knocked, we needed to answer the call and we were prepared.
With the development of Foundation Park in 2015 and the designation from the City of that area as I-2 Industrial zoning and the additional land purchases we had made prior to negotiations, we had most of the land we needed available to give them an option to move out of their present site and remain here in a designated I-2 Industrial site. Working with the state GOED to acquire some additional property, we were able to meet their land requirements.
Throughout several months, the Development Foundation and our partners at the City and the State were able to work collaboratively to identify issues, provide options and meet the challenges. Shared expertise and problem solving led to consensus on several key issues and in February we were able to agree to sign development and purchase agreements and make the project public.
While we have made the announcement, we still have several contingencies we need to address and we will not close until later this year, but the groundwork has been laid for what we have worked hard to accomplish in the future, which is the relocation of Smithfield Foods and the redevelopment opportunities at their existing site. This process will take time, patience and understanding.
A new opportunity will soon knock; we need to be prepared to answer the call. I believe we will be.