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The Year In Business

December 29, 2013, 10:10 PM by Angela Kennecke

The Year In Business
SIOUX FALLS, SD -

Nationally 2013 shaped up to be a good year for the economy. The stock market was up, housing starts were up and unemployment was down.

Sioux Falls continued to do better than the rest of the nation as it experienced a record building boom.

Tax Return Delay 01/10/13
2013 started off with a delay for people filing tax returns. Congress passed the American Taxpayer Relief Act in the 11th hour, extending many tax credits.

"We did a lot of work ahead of time; as much as we could. And then as soon as that bill was passed then we were able to dig into the meat of it and see how is this going to impact all the forms and all the processing we do," Shane Ferguson with the IRS said.

The IRS couldn't start processing individual income tax returns until Jan. 30.

Big Numbers in the Housing Market 2/7/2013
The Sioux Falls housing market took off in 2013.  Sales sky rocketed and the supply of homes on the market was down by 34 percent in February. 

"We have a shortage right now. There is an extreme shortage of inventory," Brandon Martens of the Realtor Association of the Sioux Empire said.

Arborists Aplenty 4/15/2013
The April 11 ice storm attracted dozens of out-of-state arborists to town. Most of them were legitimate businesses who applied for licenses in the city. 

The High Price of Tree Damage 4/17/2013
But there were some fly-by-night operations that showed up, including one who charged a homeowner $10,000 for removing two trees and trimming four.  

Angela Kennecke: I've had a local arborist tell me that's two and a half times what it should have been.
Jared Brigmon: It depends. Every job is different.

Jared Brigmon didn't have the proper licenses with the city or state and was later charged with misdemeanors.

PREMIER Bankcard CEO on Lawsuit Resolution 5/03/2013
In May, after a two year battle with the government over upfront fee rules for credit cards, Premier Bankcard of Sioux Falls won a legal victory. The Consumer Financial Protection Bureau said it would change the rule and not limit upfront fees and the lawsuit was later dismissed. Premier Bankcard says the ruling will enable it to grow its workforce to 2,000 employees in the next year.

Construction Worker Shortage 6/18/2013
Construction grew at a frenzied pace in June in Sioux Falls and there was a shortage of workers to keep up.  There were more than 800 construction jobs open across the state at the start of the summer.

Costco Takes Shape 7/03/13
Some of those jobs were for building the new Costco store at 41st and Grange.

Costco Opens in Sioux Falls 10/03/2013
The $14 million store employs nearly 200 people and opened in October. 

New Development For Sioux Falls' Northwest Side 7/10/2013
The building didn't stop there.  A new Walmart broke ground on the city's Northwest side. $100 million dollar retail, office and residential and retail development called University Hills broke ground near University Center. Other developers spent the summer putting up homes and apartments. 

 

Over at the Sanford Sports Complex a new restaurant and hotel went up.

Hotel Boom 7/17/2013
It was a bit year for hotels in Sioux Falls.  Six new hotels with an additional 500 rooms went up in every area of the city.

Inside Downtown Hilton Garden Inn 11/07/2013
One the most notable projects was the Hilton Garden Inn downtown. The $25 million, 136 room hotel took over a year to build.

Canadian Company Begins Producion on Wind Towers 08/13/2013
Quebec-based Marmen Energy began making wind towers off Interstate 90 near Brandon. The Canadian company brought 250 new jobs and became fully operational this fall.  It continues to hire. 

Gov Shutdown Stalls New Business 10/11/2013
South Dakota was named the 12th hardest hit state by the government shutdown in October because of the number of small businesses started here. Small Business Administration loans came to a halt, including one for these three auto mechanics who quit their jobs to open their own shop, but couldn't do so without the loan.

"It's following the American dream. We've done everything by the books to make this go as smooth as possible. We just never saw this coming," White said.

Business Moves Forward Despite Setback 10/25/2013

A few weeks later, even though SBA loans were backlogged, the bank took a chance on the men and fronted the money so they could open.

New Sioux Falls Plant About To Start Manufacturing 10/29/2013
At the beginning of November the new Glanbia Nutritionals plant started production. The 43,000 square foot seed processing plant  that produces the healthy, high omega-3 flour used in 40 different products on grocery store shelves.  Glanbia plans to double in size in the next seven years. 

Healthcare.Gov Gets Up to Speed 12/10/2013
The rocky start for healthcare.gov caused plenty of problems for individuals trying to shop for insurance and the three providers in South Dakota on the government exchange. December 23 was the last day to sign up for insurance on healthcare.gov to get covered by January. The website glitches were diminishing and insurers in the state managed to sign up hundreds of people at last check. 

"I'm paying a little less than I was before. I'm getting much better coverage. Before it was 50/50 and now I'm 20 percent; that's 80/20," Kathie Dubbelde said.

Record Building Boom For Sioux Falls 09/05/2013
But the biggest business story of the year is the record building boom in Sioux Falls. Building permits surpassed the half a billion dollar mark in 2013, shattering a record set pre-recession in 2007. Those numbers include single family homes, apartment buildings, retail stores and new manufacturing plants. 

Sioux Falls Breaks Building Permit Record 10/22/2013
"We celebrated a record that I think any town across America would even dream, and we busted through the construction record Sioux Falls, South Dakota, and I'm just thrilled by it," Mayor Mike Huether said.

While the new Denny Sanford Premier Center tops the list as the most expensive project this year, it only accounted for five percent of the $590 million in building permit values. 

A number of new projects are also in the works for next year in Sioux Falls. Developers have already requested rezoning of land to start on projects immediately in 2014.

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