SIOUX FALLS, S.D. (KELO AM) - State, city and business dignitaries took park in Foundation Park Groundbreaking ceremonies this morning at the intersection of I-90 and I-29. Governor Daugaard says the megasite puts South Dakota in another level of business development.
Daugaard says Foundation Park has all the amenities business requires including access to rail, easy access to Interstates 29 and 90, proximity to the airport and redundit electric power.
Mayor Mike Huether says infrastructure is essential to economic growth. He says the city will make an $11 million investment over the next two years for roads, sanitary sewer and water.
Foundation Park's goals are ambitious: 820 acres of development could lead to almost 8,000 jobs. Chairman of the Sioux Falls Development Foundation Dale Froehlich says new capital invested will be hundreds of millions of dollars resulting in a new tax base.
Logistics Buddy, a supply chain advisor to businesses, is the first large tenant in Foundation Park.