The Sioux City urbanized area (known as Siouxland) has traditionally had a stable economy, with unemployment rates well below the national average. Sioux City’s economic strength has always been concentrated in the agri-business industry due to the proximity of fertile land, abundant water resources, and a large food processing industry which tends to be more insulated from an economic downturn than most job sectors.

• Site Selection magazine ranked the Sioux City metropolitan region #1 in the entire nation in the population category under 200,000 due to strong activity in the agri-business and food processing sectors.
• Sioux City was selected as one of five national recipients of Expansion Solution Magazine’s Award of Excellence in Food Processing.
• The Milken Institute publishes an annual Cost of Doing Business Index that compares each state’s comparative advantages or disadvantages in retaining and attracting businesses by measuring the cost of wages, taxes, electricity, and industrial and office space. South Dakota, Iowa and Nebraska ranked first, second and fourth in the annual ranking of the least expensive states in which to do business.
• The Tax Foundation ranks the business tax climate of a state by measuring the impact on businesses of five major elements of the tax system. The Tax Foundation ranks South Dakota 2nd in the nation in favorable business tax climate.
• The U.S. Department of Commerce ranks the Sioux City MSA as sixth best among the nation’s 363 metropolitan statistical areas in per capita income growth.
• The unemployment rate in 2008 was only 4.3% compared to the national rate of 7.2%.
• Career Builder.com ranked Sioux City the 25th best city to find a job.
• The Office of Federal Housing Enterprise Oversight ranked Sioux City 20th best among all metro areas in the country with a 5.6% increase in house prices.
• Expansion Management publishes an annual report on 362 metropolitan areas across the country to provide CEOs and company executives a basis for comparing various communities for manufacturing and service companies. The Sioux City MSA has been designated a top 20% Five Star Quality of Life Metro.
• Hyperion Resources of Dallas has announced plans to build a $10 billion, 400,000 barrel a day oil refinery and energy center in Union County, South Dakota. It would be the second largest construction project in the history of the United States. A study prepared by Stuefen Research, LLC estimated the project would result in as many as 14,000 new full time jobs, would add $14 billion in annual economic activity for the region, and $1.2 billion in new wealth would be created each year after it becomes operational.
• Work is under way on a $400 million expansion by Beef Products, Inc. on a 54 acre site in South Sioux City. It will be the largest single investment in Nebraska history.
• Genebiotech, a Korean biotechnology firm, and Nutra-Flo Protein and Biotech Products, a Sioux City feed ingredient company, recently opened a high-tech soy fermentation facility in North Sioux City, the first of its kind in the United States.
• Green Plant Farms has finished a $40 million organic soybean processing plant in South Sioux City next to the Beef Products facility.
• Both Sioux City hospitals have major expansions underway. St. Luke’s Regional Medical Center broke ground on a multi-million dollar project to expand its surgical and other facilities, while Mercy Medical Center completed a multi-million dollar capital campaign for major projects, including a new state-of-the-art ICU.