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<\/a><\/p>\n\u201cIn the end, it became clear that it was time to make a significant investment in the future. So today, I\u2019m excited to announce Smithfield plans to make a significant investment to build a new state-of-the-art \u2026 facility from the ground up.\u201d<\/p>\n
At the same time, a $50 million gift from philanthropist Denny Sanford will allow the 120-acre location adjacent to downtown to transition to community ownership, clearing the way for an unprecedented scale of redevelopment.<\/p>\n
\u201cAs a result of that, our community is going to be receiving 120 acres at the core of our downtown at the head of our namesake park, Falls Park,\u201d Mayor Paul TenHaken said.<\/p>\n
The existing plant has sat along the Big Sioux River just north of Falls Park at 1400 N. Weber Ave. since it was built as John Morrell & Co. in 1909. It was acquired by Virginia-based Smithfield in 1995. Smithfield was acquired by China-based WH Group in 2013 \u2014 the largest pork company in the world. Last year, 12 percent of the company became publicly traded on the Nasdaq.<\/p>\n Smithfield employs about 2,200 people in Sioux Falls, equivalent to a $200 million payroll. The plant is Smithfield\u2019s second-largest processing facility and the largest producer of packaged meats in the United States. It processes about 20,000 hogs daily, largely from independent producers.<\/p>\n The new plant is expected to be the most technologically advanced in the country, featuring advanced automation technology and IT systems and will be the largest in Smithfield\u2019s network with more than 1.4 million square feet of production space.<\/p>\n Smithfield\u2019s preliminary estimate of the proposed investment is up to $1.3 billion over the next three years. The investment is contingent on securing required permits and other regulatory approvals, as well as approval of the final facility design by Smithfield\u2019s board of directors.<\/p>\n The land at Foundation Park, which sits not far from the CJ Schwan\u2019s Asian food production facility under construction, already is zoned for heavy industrial use. It is owned by the Sioux Falls Development Foundation.<\/p>\n The park \u201cis an ideal location for Smithfield\u2019s operations,\u201d Smith said. \u201cIt is well situated north of the facility at two major highways and provides rail access.\u201d<\/p>\n It\u2019s a \u201cwin-win solution\u201d that creates \u201ca generational redevelopment\u201d possibility for the city, he said.<\/p>\n \u201cIt\u2019s a once-in-a-lifetime opportunity.\u201d<\/p>\n The plan is to begin construction at Foundation Park in 2027 and potentially start operations as soon as late 2028.<\/p>\n \u201cI am excited beyond words,\u201d Gov. Larry Rhoden said. \u201cToday is proof positive that South Dakota is open for opportunity.\u201d<\/p>\n The project will be the largest business investment in the state\u2019s history, he said.<\/p>\n A year ago, he would not have believed both Smithfield and the South Dakota State Penitentiary would be moving forward with relocation plans, he said.<\/p>\n \u201cI would have been amazed,\u201d Rhoden said.<\/p>\n The area Smithfield is leaving is roughly equivalent to the distance from 13th Street and Phillips Avenue to Sixth Street and from Minnesota Avenue to the 10th and 11th street viaducts.<\/p>\n \u201cThis is a great day,\u201d TenHaken said.<\/p>\n \u201cWe could have easily lost this plant. I don\u2019t want to just take for granted that it was assumed Smithfield would stay here because it wasn\u2019t \u2026 but we brought the deal together and this partnership continued on, and it\u2019s going to continue on for another 100 years.\u201d<\/p>\n<\/a><\/p>\n<\/a><\/p>\n<\/a><\/p>\n<\/a><\/p>\n<\/a><\/p>\n<\/a><\/p>\n<\/a><\/p>\n