$90M TIF plan for Smithfield

Smithfield proposes $90M tax incentive for $1.3B pork plant project

Smithfield has asked the city to consider a $90M TIF for their new $1.3B pork plant. Here's what else we know about what to expect at Foundation Park.

$90M TIF plan for Smithfield

SIOUX FALLS, S.D. (KELO) -- The redevelopment of property now occupied by Smithfield near Falls Park in Sioux Falls will hinge in part of Tax Increment Financing. Smithfield will build a new plant in Foundation Park and is willing to sell the existing site to the Sioux Falls Development Foundation. By taking those actions, "They [...]

Deal to move pork plant from downtown to northern Sioux Falls includes $50 million Sanford gift

SIOUX FALLS — Smithfield Foods plans to move its pork processing facility from downtown Sioux Falls to a new plant on the northern edge of the city that will be

Next steps for Smithfield project include financing request, land sale

Feb. 18, 2026 The Sioux Falls City Council will consider a new tax increment financing district for part of Foundation Park next month as Smithfield Foods moves closer to purchasing 200 acres for its new $1.3 billion pork processing plant. “Without a TIF, this project doesn’t happen,” Mayor Paul TenHaken said. The TIF largely would fund a dedicated wastewater treatment plant at the new location in northwest Sioux Falls. Smithfield would be able …

Smithfield to build $1.3 billion pork plant

New facility will replace existing plant in South Dakota.

Smithfield wants $90M TIF for new Sioux Falls pork plant

A day after unveiling plans to relocate its century-old pork plant from the edge of downtown Sioux Falls, the $90 million tax incentive tied to Smithfield Foods’ move also came into focus.The Sioux Falls Planning and Development Department on Tuesday briefed city councilors on a City Hall-endorsed tax increment financing proposal that would help the Virginia-based pork processing giant cover part of the $1.3 billion it plans to spend building a …