SFS-Community Guide 2022-02-01 Draft - Flipbook - Page 5

A ( V E R Y ) B R I E F H I S T O R Y O F S I O U X FA L L S
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Both hospital systems grew with the city and
competition between them helped each find its own
niche in the market.
Banking brought a dramatic economic shift when
Citibank moved its operations from New York to
Sioux Falls in 1980 following a loosening of the
Otatatas sus que rem iniamus quia qui quiaectur si sum quatis aut
reius qui optassum eserio tessiti alique.
state’s usury laws under then-Gov. Bill Janklow.
Essentially, the law change allowed companies
HOW DID T H E C I T Y G R OW A N D C HA N G E ?
like Citibank to set whatever interest rate they
Big question — too big for one story, really, as there
like on credit cards — unlike other states which
are entire books on the matter. That said, one of
had hard caps on interest rates.
the obvious (and simple) ways to measure change
is looking at how the city’s economy shifted from a
focus on agriculture to a focus on finance and health
care. Let’s start with health care.
The city’s two major health systems — now Sanford
Health and Avera Health — each have histories
dating back more than a century.
Sanford, previously known as Sioux Falls
Lutheran and later Sioux Valley Hospital, was the
first hospital in town dating back to 1894.
Avera’s first hospital — the second in town —
opened in 1911 with the help of a large donation
Several other banks followed Citi’s lead, and
the finance sector is a major part of the city’s
economy still today.
Another highlight in history still cited 30 years later
is when Money magazine listed Sioux Falls as the
best place to live in America in 1992.
Fun fact: At the time, a three-bedroom house
was $86,000, and a chicken breast with pasta at
Minerva’s restaurant was $5.95.
WHAT A BO UT MO R E R ECENT HI STO RY ?
In a word: growth.
from Helen McKennan (the same woman who’s
Sioux Falls’ population surpassed 200,000 this year,
the namesake of McKennan Park). Before the
and that growth shows no signs of slowing.
building, the Presentation Sisters — a group of
Catholic nuns — were in town providing both
education and health care.
Sioux Valley Hospital became Sanford
Health with a $400 million donation from
The trick for city leaders moving into the future is
managing the growth and the challenges that come
with it from housing shortages to the growing child
care crisis to ensuring the people who come here
have access to the community resources they need.
philanthropist T. Denny Sanford. It was massive
growth, but over the years Avera held its own in
expanding its regional health care options.
SIMPLIFIED COMMUNITY GUIDE
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