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PIERRE, SD – The Governor’s Office of Economic Development announced that North Sioux City Economic Development Corporation has been approved for a $10,500,000 REDI (Revolving Economic Development & Initiative) loan and a $500,000 LIIP (Local Infrastructure Improvement Program) grant. The funding, approved by the Board of Economic Development, will be used to purchase land and assist with infrastructure for a new industrial park and housing development.
“South Dakota remains open for business and I applaud North Sioux City’s proactive efforts to ease the path to business and residential development,” said Governor Noem. “Having build-ready sites will save time, energy, and money not just for companies, but also for new residents, looking to move to our great state.”
With the existing industrial park nearing capacity, the loan will assist with the purchase of farmland that will be turned into a 330-acre industrial park. The LIIP grant will allow for road work and extend water and sewer to the area. An additional 90 acres will be set aside for approximately 300 workforce homes.
“We are pleased to partner with North Sioux City to make this new industrial park a reality,” GOED Commissioner Steve Westra said. “With the increased interest our state has seen over the last two years, it has become apparent that communities with developed land and infrastructure are better positioned to attract projects.”
Andrew Nilges, Executive Director of the North Sioux City Development Corporation said, “The North Sioux City Economic Development Corporation is grateful to Governor Noem and the entire team at GOED for their support of North Sioux City’s continued growth. The approved funding will allow North Sioux City to move forward with plans to establish the Graham Business Park, as well as address the ongoing workforce housing shortage.”
