The City of Mitchell has secured a ten-year, $1 Million USDA loan to support the development of a new industrial park.
The Mitchell Area Development Corporation, or MADC, announced the preliminary approval of a zero-interest loan from the USDA’s Rural Economic Development Loan and Grant Program.
The organization says they have already signed a purchase agreement for the industrial park, which will be located in the southwest corner of the city. The overall project will include paved roads, water and sewer lines, and an electrical network built to accommodate modern industry needs.
"This industrial park is not just about bringing new businesses to Mitchell; it’s about preparing for the future," MADC CEO Mike Lauritsen said. “We’re building a foundation for sustained growth that will diversify our local economy, increase our tax base, and create new, quality jobs for our residents.”
According to a news release, the city is doubling its water capacity by 2027 and tripling its sewer capacity by 2026 in anticipation of continued growth.
“Supporting this industrial park is a natural extension of our mission to strengthen the economy of our region and create opportunities for future generations,” said MADC Board President Ken Schlimgen.
Infrastructure construction on the project is set to begin this year.
