THE NORTH SIOUX CITY ECONOMIC DEVELOPMENT CORPORATION HAS BEEN APPROVED BY THE STATE FOR A $10,500,000 REVOLVING ECONOMIC DEVELOPMENT & INITIATIVE LOAN AND A $500,000 LOCAL INFRASTRUCTURE IMPROVEMENT GRANT.
THE FUNDING, APPROVED BY THE STATE BOARD OF ECONOMIC DEVELOPMENT, WILL BE USED TO PURCHASE LAND AND ASSIST WITH INFRASTRUCTURE FOR A NEW INDUSTRIAL PARK AND HOUSING DEVELOPMENT.
NORTH SIOUX’S EXISTING INDUSTRIAL PARK IS NEARING CAPACITY, SO THE LOAN WILL ASSIST WITH THE PURCHASE OF FARMLAND THAT WILL BE TURNED INTO A NEW 330-ACRE SITE CALLED THE GRAHAM BUSINESS PARK.
THE LOCAL INFRASTRUCTURE 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.
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