Council Moves Smithfield TIF Forward to March 17

Council moves Smithfield TIF forward to March 17

SIOUX FALLS, S.D. (KELO) -- Sioux Falls City Council member Miranda Basye said at Tuesday's council meeting the comments, the emails and voice mails she's received about the Smithfield move have been "overwhelmingly positive." The public tone at Tuesday's Sioux Falls City Council meeting toward the proposed Smithfield Tax Increment Finance (TIF) district reflected the [...]

Financial incentive for new Smithfield packing plant in Sioux Falls clears first City Council test

Smithfield Foods cleared a public hurdle on Tuesday on the way to approval of a financing plan for a portion of a new $1.3 billion pork processing plant in Northeast Sioux Falls. The Sioux Falls City Council unanimously agreed to forward a $90 million tax increment financing deal to a final debate and vote at their next meeting on March 17. The plan attracted only muted public input and council debate at Carnegie Town Hall and company officials …

Business community rallies to support Smithfield tax incentives

Simplified: Were it not for a $90 million tax-increment financing proposal to offset construction costs, a Smithfield executive told councilors Tuesday the company would not be investing in a $1.3 billion pork processing plant in northwest Sioux Falls. Why it mattersThe City Council on Tuesday voted unanimously to advance an ordinance establishing a tax-increment financing district for Smithfield's proposed new site in Foundation Park. That TIF …