South Dakota Ag Connection - USD Discovery District Options Expand with Key Legislation

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USD Discovery District Options Expand with Key Legislation
South Dakota Ag Connection - 02/20/2018

The University of South Dakota Discovery District, an 80-acre contemporary corporate and academic research park under development in Sioux Falls, announced that it can broaden its leasing options with the passing of HB 1063 that removes the 80-acre restriction on the development.

The removal of the restriction will accommodate larger development with additional leasing options for the 252-acre site controlled by the SD Board of Regents. The development is located adjacent to the University Center in northwest Sioux Falls.

"This seemingly small change in the bill is a big step forward for the development of the USD Discovery District," said Rich Naser, Jr., President of the USD Discovery District. "The removal of the limitation provides the flexibility needed for various types and sizes of developments that are better located adjacent to, not within the current 80-acre tract, such as large-scale pharmaceutical production and research facilities."

The bill, taken forward by the SD Board of Regents and Governor's Office of Economic Development, doesn't require the Discovery District to occupy more than 80-acres or require the purchase of additional land, it simply provides the option for an amendment to its existing land lease with the Board of Regents.

"We appreciate the Legislature and Governor recognizing the importance of this bill," said Mike Rush, Executive Director of the Board of Regents. "It provides us with the flexibility to react to market demands and ultimately foster the larger innovation community we're aiming to create." The additional site access also allows for the Discovery District to develop a pedestrian/bicycle trail system within the 100-year flood plain.

"Amenities like a bike path, hotel and restaurants are also planned for the Discovery District creating additional new property and sales tax revenue," added Naser. "Access to this larger development tract also enhances the ability to create a destination to live, work and play."

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