South Dakota is backing what officials call the largest private investment in state history. The State Board of Economic Development has approved nearly $30 million in sales tax rebates for Smithfield. The company is moving forward with a new $1.29 billion pork processing facility in Sioux Falls. Combined with the previous state grants, South Dakota’s support for the project now totals roughly $42 million. The new facility will replace Smithfield’s aging downtown Sioux Falls plant. The project has also received local support, including a $90 million tax increment financing package approved by the Sioux Falls City Council.
