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It Is Feasible That More Firms Will Migrate To Sioux Falls As The City’s Population Continues To Increase

There has been a huge growth in the number of people in Sioux Falls, and the city celebrated an important milestone today. Approximately 200,000 people are expected to live in the state’s main metropolis in the foreseeable future, according to current projections.

The City of Sioux Falls Planning Department is always working to assess what steps need to be taken in order to aid the city in dealing with the fast growth in population that has occurred in recent years.

Jeff Eckhoff, Director of Planning and Development for the City of Sioux Falls, explained that the city “is always reinvesting money back into the community, whether it’s in roads, water access, or other infrastructure.” “Each of those things must come into play in order for our company to be able to continue to grow in a controlled and well-planned manner.”

A city that has reached significant demographic milestones may attract the attention of national firms interested in establishing a new presence.

In an interview with SiouxFalls.Business, owner Jodi Schwan discussed the importance of such information for businesses, saying that the city’s population of 250,000 people “was a huge milestone, and I predict that 200,000 for the city will be as well.”

Even though a growing population will attract more firms, it is not the only element that corporations take into consideration when making business decisions.

In the words of Schwan, “we have a lot of nationals who are looking to expand their businesses, and they’re looking for cities where they can do so.” In other words, “it’s feasible that Sioux Falls will play a role in regions where we haven’t historically,” he said. But, as the author points out, “we still have to figure out where to put it, what region to put it in, and what size to put it in.”

A number of businesses failed in 2020, but more people were out and about in the previous year, and it is anticipated that this trend will continue in the future year as well. An influx of new enterprises is being seen in at least one shopping zone, which is positive.

According to Raquel Blount, Vice President of Commercial Real Estate at Lloyd Companies, one of the most significant recent trends in retail has been the resurgence of clothes stores.

When it comes to future population growth as well as the potential for additional commercial opportunities, the availability of sufficient housing will be the most critical issue to address.

It was only last week that we presented some recommendations to the council on how to support the development of workforce housing that is more accessible and more affordable, and we need to work on all fronts,” Eckhoff added.

With 10- to 20-year plans in place, the City of Sioux Falls Planning Department is well equipped to deal with the city’s growing population and potential businesses; the only thing that surprises them is the city’s rapid population and business growth.

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