South Dakota leaders approve funding for projects in Rapid City, Lake County and Sioux Falls

RAPID CITY, S.D. (KOTA) – The South Dakota Board of Economic Development has approved funding for three projects focused on business growth, infrastructure improvements and investment in Rapid City, Lake County and Sioux Falls.

A $7.5 million Revolving Economic Development and Initiative Fund loan was approved for Elevate Rapid City to purchase and develop 128 acres for a new business park. State officials said the project will help meet growing demand for industrial and commercial sites while supporting industries including national defense and advanced manufacturing.

The board also approved a $500,000 Local Infrastructure Improvement Program grant for reconstruction of County Road 17 in Lake County. The road serves the Dakota Ethanol facility near Wentworth, which is expanding production by 50% and increasing commercial traffic in the area. Officials said the improvements will support the transportation of agricultural products and accommodate future growth.

In Sioux Falls, Smithfield Packaged Meats Corporation was approved for a reinvestment payment of up to nearly $30 million tied to its planned $1.29 billion meat processing and packaging facility in Foundation Park. The new facility will replace the company’s downtown Sioux Falls operation and is expected to retain more than 3,100 jobs while supporting South Dakota’s agricultural industry.

Gov. Larry Rhoden said the investments reflect the state’s commitment to planning for future economic growth. State officials said the programs are designed to encourage business expansion, infrastructure development and job creation across South Dakota.

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