SIOUX FALLS, S.D. – High Plains Processing is continuing to grow and invest in South Dakota. This project is part of the South Dakota Soybean Processors, LLC organization. South Dakota Soybean Processors, LLC currently operates two processing plants and will be expanding their commitment to South Dakota value-added agriculture with the development of a new multi-seed processing plant located near Mitchell.
“South Dakota has seen historic growth over the last several years and we are thrilled that High Plains Processing is continuing their advancement here,” said Governor Kristi Noem. “South Dakota’s work ethic, business climate, and love of Freedoms makes us the best state in the nation for businesses to start and grow.”
Over the next two years, High Plains Processing is prepared to invest over $500 million into both Davidson County and the entire state of South Dakota. The first step of the expansions is a multi-seed, switch processing facility with the capacity to process 35M bushels of soybeans annually. Storage volume for High Plains Processing will be 4M bushels of soybeans/high-oil content seeds, 8000MT of meal/hulls, 12.3M gallons of crude oil, and 3.52M gallons of refined oil.
“South Dakota Soybean Processors is excited to see High Plains Processing continue to provide wide ranging benefits to producers and communities across the state,” said Tom Kersting, CEO of South Dakota Soybean Processors. “This plant represents the next chapter for South Dakota Soybean Processors, and it could not happen without the great support from local investors, producers, county officials, and the State of South Dakota.”
In an agricultural driven community, High Plains Processing will offer job opportunities, local investment opportunities for ag producers, increased housing demand, increased utility demand, and an increase in sales tax dollars.
This project will be a substantial economic boost to the Mitchell area, having an estimated 85 full-time employees and payroll of approximately $5.5M annually.
“Value added ag is an essential industry in South Dakota and we are excited to be a part of this expansion for High Plains Processing,” said GOED Commissioner Chris Schilken.
High Plains Processing secured at $21MM taxation increment financing (TIF) plan through unanimous approval from the Davison County Commission before turning to the state and the Governor’s Office of Economic Development (GOED) for support.