Sioux Falls, South Dakota Development News
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June 2026 Financial Overview Shows Strong Sales Tax Growth Amidst Declines in Building Permits
Director of Finance Sean Pritchett presented the June 2026 financial overview, highlighting key economic indicators and the city's financial status. The unemployment rate remained low at 1.8% for May 2026. Inflation saw a slight decrease, with food cost inflation at 3% and energy cost index at 15.7% for June, though core inflation remained at 2.6%. Building permit valuations were down 33% year-to-date, largely due to a decrease in new commercial projects, with specific drops in strip malls, hotels, restaurants, manufacturing, and apartments. The residential sector also saw a decrease in new valuations, though residential additions and remodels were up slightly. Sales tax growth was strong, up 7.2% year-to-date, driven by sectors like wholesale trade and manufacturing. Entertainment and lodging taxes also showed positive year-over-year growth. The general fund revenue was on track, with 51% of anticipated revenues received by June, consistent with prior years. However, expenses were up due to significant transfers made in June to transit and centralized facilities. Pritchett noted potential headwinds for future projections including international affairs impacting energy prices and capacity in the construction market, though he also highlighted opportunities due to current lower building costs and timing of city projects.
Southeast Tech Pursues Major Growth with New Facilities and Expanded Programs Amidst High Demand
Southeast Tech President Corey Klausman and Associate Vice President Steve Williamson provided an update on the institution's mission, growth, and new facilities. Southeast Tech focuses on technical education aligned with industry needs and partnerships to prepare students for the workforce. They were recognized as a semi-finalist for the Aspen Prize. The college aims to increase its unduplicated student count to 5,000 by 2035, currently serving just under 3,500 students, tracking ahead of their goal. Significant growth was noted in the early childhood education program. New facilities under construction include the Wells Fargo Homebuilding Lab, expected completion by July 2027, and the James Abner Center for Advanced Manufacturing, expected completion in Fall 2028, which will expand welding and manufacturing programs. These projects are funded through federal, state, and local donations, avoiding new debt. Demand is high in healthcare and trades programs, with many programs at capacity and waitlists. Challenges include facility constraints, faculty recruitment, student mental health and financial needs, and keeping equipment up-to-date. Southeast Tech draws 85-90% of its students from the Sioux Falls metropolitan region and South Dakota, with approximately 85% of graduates staying in South Dakota and two-thirds remaining in the Sioux Falls metro area. They work with local organizations through career fairs and industry partnerships to facilitate job placement.
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The Sioux Falls News archive
Planning Preview | August 2026
Street Construction Update | July 22, 2026
City Council Meeting
Installation Ceremony
Installation Ceremony
Parks Board Meeting | July 15, 2026
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