User uShare Login | Register
Login
Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.


60° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

Share your Photos, Videos, and Stories on uShare! Click here to get started.

News

[0] My Saved Articles
Back to all news

Business

Find local businesses
on the KELO Pages!

 

Sioux Falls Experiencing Financial Prosperity

December 10, 2013, 5:54 PM by Jared Ransom

Sioux Falls Experiencing Financial Prosperity
SIOUX FALLS, SD -

The end of each year brings questions about how the City of Sioux Falls is fairing financially. Based on the November report, the City is flush with cash.

One of the biggest reasons behind the boost is Sioux Falls' building permit numbers.

"We've got one month left to go this year and we've already surpassed the best year on record, which was 2007 prior to the most recent recession," Director of Finance Tracy Turbak said.

The City has issued permits valued at $146 million more compared to 2012. That's an even bigger jump from what was issued in 2011.

"It's up over 100 percent from 2011, and that really wasn't a bad year. We saw a fair amount of activity in 2011, but we've more than doubled that through November of this year," Turbak said.

The amount of taxes collected from sales in Sioux Falls is also on a record pace.

"It's gone from about five-percent growth rate to now approaching eight-percent growth rate, so we've seen activity pick up considerably since this past spring," Turbak said.

Councilors did ask about spending on Black Friday, but Turbak says those numbers are never known until at least two months down the road.

"If you look back at some of the historical numbers in the report, you see January is quite often the biggest month of the year in terms of the amount of sales tax revenue," Turbak said.

The one major cost for the City was the tab for Operation Timber Strike at $8 million, but the City will see much of that reimbursed from FEMA.

Another high point from Tuesday's informational meeting is the number of people employed in Sioux Falls. Compared to last year, there are about 6,000 more people working right now in Sioux Falls.

Previous Story

Next Story


Comments







 
Find Local Businesses on KELO Pages!

View business

You may also like

Millions Of Android Phones At Risk For Heartbleed

4/15/2014 4:10 PM

If you've got an Android phone, your device could be susceptible to the Heartbleed security problem.

Full Story
Shrimp Prices Soar

4/16/2014 11:00 AM

The next time you order shrimp scampi of the menu, you may be in for sticker shock. 

Full Story
Key Unlocks Gas Pumps For ID Thieves

4/14/2014 10:10 PM

Drivers who've fueled up in Rapid City are being warned that their debit and credit card numbers may have been stolen after "numerous" s...

Full Story | Watch
Headliners For JazzFest Announced

4/17/2014 10:54 AM

Plans are in place for JazzFest 2014 in Sioux Falls.

Full Story
Rental Scam Targets Sioux Falls

4/11/2014 10:10 PM

If you're in the market to rent a house in Sioux Falls, you could be target of a scam.  Sioux Falls realtors say their home listings are bein...

Full Story | Watch


Events

 
 
KELOLAND TV: 501 S. Phillips Avenue, Sioux Falls, SD 57104
Phone: 605.336.1100 · Breaking News call: 1-800-888-5356
Web Site Design and Custom Programming By: Lawrence & Schiller© 2014 KELO-TV -- KELOLAND.COM -- ALL RIGHTS RESERVED