By Scout Nelson
Mitchell is taking a big step forward in economic development with the preliminary approval of a $1 million zero-interest loan from the USDA’s Rural Economic Development Loan and Grant Program. The loan will support a new industrial park that reflects the city’s focus on long-term business growth and community progress.
The loan, which spans 10 years, will help develop essential infrastructure like paved roads, water and sewer systems, and electric networks in a newly planned industrial area in southwest Mitchell. While the exact location is not yet public, a purchase agreement has been signed, and construction is expected to begin soon.
“This investment in our industrial park is a game-changer for Mitchell,” said Mike Lauritsen, CEO of the MADC. “Securing this funding ensures that we can continue providing high-quality development opportunities for businesses looking to expand or relocate. This is another step in making Mitchell a top destination for economic development in South Dakota.”
In recent years, Mitchell has seen an impressive rise in economic activity. Building permits have consistently exceeded the 20-year average, showcasing the city's growing appeal. A major example of this growth is the $500 million High Plains Processing soybean facility, the largest agriculture-based development project in the state’s history.
Lauritsen noted that this new project is not only about attracting companies but also about securing a strong economic future for residents. The industrial park is expected to diversify the economy, expand the tax base, and create more quality job opportunities.
The MADC is working with city officials, developers, and partners like Central Electric Cooperative to make the project a success. “We’ve seen the impact of strategic investments in rural communities,” said Ken Schlimgen, general manager of Central Electric Cooperative. “Supporting this industrial park is a natural extension of our mission to strengthen the economy of our region and create opportunities for future generations.”
Mitchell’s strategic location, with access to several major highways and interstates, makes it a prime spot for businesses in the Midwest. As the city continues to grow, leaders remain committed to building a resilient, innovative, and welcoming community for both businesses and families.
Photo Credit: usda
Categories: South Dakota, Business