Watertown Development Co. receives $1.1M for development of Calvin Industrial Park
The South Dakota Department of Economic Development Administration has awarded Watertown a $1.1 million grant for developing 73 acres at Calvin Industrial Park.
The park is located southeast of Watertown near Terex and Eastside Equipment and was named after local industry leader and philanthropist John Calvin.
Development plans have been in the works for this site since 2019. The Watertown Development Co. and the First District Association of Local Governments have made the project possible through joint planning efforts.
The grant will be matched with local funds. The Watertown Development Co. is actively finding ways to secure more money to help meet the match, said Executive Director Michelle Kakacek.
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“We will be looking to a number of sources to invest in the project -- funds specific to economic development financing and additional grants through other entities. We will be combining all of these to fund this match,” she said.
The development plan includes $4.5 million in private investments from the businesses that will build in Calvin Park. But for now, the site will get the infrastructure needed for lots to be sold so that new businesses can come to Watertown.
“We’ve had a lot of interest from builders wanting to come into this area. And having available industrial lots allows us to recruit new business and facilitate further expansions,” Kakacek said.
Concept plans for the development are being finalized, and work will begin in the spring.
This article originally appeared on Watertown Public Opinion: Watertown receives $1.1 M for development of Calvin Industrial Park
