The Mitchell Area Development Corporation has announced the preliminary approval of a $1 million zero-interest loan from the USDA Rural Economic Development Loan and Grant Program. The 10-year loan will support the development of a new industrial park, signaling a bold and future-oriented step in Mitchell’s ongoing commitment to economic growth and business expansion.
“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.”
Mitchell has experienced remarkable economic growth over the past few years as building permits have been significantly above the 20-year average, which is proof of the community’s momentum. The $500 million High Plains Processing soybean plant, the largest value-added agriculture economic development project in South Dakota’s history, highlights the city’s growth.
The new industrial park will be strategically located in Mitchell’s southwest corner. MADC has already signed a purchase agreement, and infrastructure construction is set to begin this year. The project will include paved roads, water and sewer lines, and an electrical network to accommodate the needs of modern industries.
“This industrial park is not just about bringing new businesses to Mitchell — it’s about preparing for the future,” added Lauritsen. “We’re building a foundation for sustained growth that will diversify our local economy, increase our tax base, and create new, quality jobs for our residents.”
MADC’s efforts are a collaborative approach that includes city officials, business leaders, and strategic partners like Central Electric Cooperative who have been a driving force behind rural development. Their commitment to Mitchell’s growth is evident through their partnership in securing this loan for MADC.
“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 central location — at the intersection of Interstate 90 and State Highway 37, with access to major transportation routes like U.S. Hwy. 81, Hwy. 281, and Interstate 29 — makes it an ideal hub for businesses seeking to expand in the Midwest. With two rail lines and advanced fiber-optic broadband, Mitchell is well-positioned for industries ranging from manufacturing to logistics.
“This is a major win for Mitchell’s business community,” said Chad Glanzer, President of Vantage Point Solutions, a key partner in Mitchell’s business and technology sector. “Investments like this ensure Mitchell remains a place where businesses can grow, thrive, and innovate.”
The new industrial park aligns with the broader vision for Mitchell’s economic development — a vision grounded in long-term planning and strategic growth. As part of this vision, the MADC helped move 52 families to Mitchell through the $1,000 Move to Mitchell incentive; ongoing workforce summits to build business culture, along with partnering with Mitchell Area Housing Inc. to build 100 new homes to accommodate workforce growth.
Additionally, the city is doubling its water capacity by 2027 and tripling its sewer capacity by 2026, positioning itself for continued expansion. The construction of a $60 million new high school and a revitalized downtown district further highlights Mitchell’s commitment to community development.
“This industrial park is just the beginning,” Lauritsen noted. “Our efforts are intentional and strategic — we are creating a community that businesses and families want to be part of. We are not just growing for today; we are building a resilient, sustainable future for Mitchell.”
The MADC will continue to work closely with developers, prospective tenants, and local leaders to finalize construction plans, infrastructure development, and utility installations. As the industrial park takes shape, Mitchell will continue to strengthen its reputation as a forward-thinking community that embraces growth and fosters innovation.
“Mitchell has momentum, we are the “Community of the Year,” and it’s exciting to be here to help facilitate the growth,” said Lauritsen.