Smithfield wants $90M TIF for new Sioux Falls pork plant
City councilors get first look at 20-year financing plan tied to $1.3B relocation to Foundation Park
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 new state-of-the-art slaughter and packaging facility at a northwest Sioux Falls industrial park.
