Sioux Falls ranks as the 10th most recession-resistant city in the U.S.
, Sioux Falls is the 10th most recession-resistant city in the United States.
, the financial website looked at three key metrics: employment, housing and social assistance.
Mayor Paul TenHaken took to Twitter last weekend to share the study, saying the city is already seeing large events and conferences eyeing Sioux Falls as an alternative venue.
Teri Schmidt, Executive Director of Experience Sioux Falls, says bringing some of these large events back, as well as adding new ones, will be a big part of easing the financial burden the pandemic has left on the city.
"It's an economic boost, last year $455 million was spent by visitors in Sioux Falls," Schmidt said. "The potential is there to pick up some of that business and get some of those millions of dollars back into the economy, get some of those jobs back, get that sales tax going again, the entertainment tax, and so forth."
As city council prepares to discuss lifting the remaining restrictions on businesses and events in Sioux Falls, Councilor Marshall Selberg says its exiting to see things trending back toward normal, but important to remember the danger still exists.
"Ever since this began, it has just been a matter of steadying the numbers and adjusting accordingly, using judgement as we go along, and the news has been good the last few weeks," Selberg said. "There's always that balance, it's between the safety we're obviously looking for, keeping people safe from the virus, but also we've got to get the economy going and get the economy stimulated as best we can, because there are repercussions for that too if we don't get going"."
Mayor TenHaken was unavailable for an interview when Dakota News Now asked for his comment, but I'm told by his office that the Mayor will speak on about topic during his State of the City Address later this month.