Sioux Falls Business Journal Report: June 18 - KSFY News - Sioux Falls, SD News, Weather, Sports

Sioux Falls Business Journal Report: June 18

Posted: Updated:

In 2012 for the first time the state actually regulated more trust companies than state-chartered banks.

There are 67 trust companies in South Dakota, including the growing South Dakota Trust Company at 10th Street and Phillips Avenue. It has nearly $11 billion in assets under administration and more than 1,500 clients including some of the wealthiest families in the world. 500 of those clients signed on just last year, so not surprisingly the company has run out of space and is adding offices. So why South Dakota? There are legal and financial benefits to locating here, and there's a benefit for the state, from jobs to an increasing number of charitable contributions from trusts located here.

 

A new project designed to preserve the history of the Sioux Falls Stockyards and the industries that supported the it is in the planning stages.

The Stockyards closed several years ago, and now there's an effort underway to turn about four acres of the property near Falls Park and John Morrell into a plaza that's would be park-like and educational. It also might bring new life back to the Horse Barn at Falls Park, which has been vacant for a few years and would connect visitors with a little-known tunnel leading to John Morrell.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KSFY. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service or our EEO Report.