Fort Pierre Development Corporation

Fort Pierre Development Corporation Annual Meeting

February 1, 2023

First National Bank of Fort Pierre and Branch President Shad Ludemann were honored last night as “2022 Business of the Year” at FPDC’s Annual Meeting. First National Bank the former Fort Pierre National Bank in 1994 and moved to Teton Island in 2007 becoming one of the first businesses there. Since then they have been strong supporters of economic development and events in Fort Pierre. Shad Ludemann has served as FPDC President and is currently a board member always willing to serve.
Speaker for this year’s annual meeting was Representative Will Mortenson, currently serving as SD House of Representatives Majority Whip. Mortenson described the tax reduction issues facing the House and possible outcomes. He asked the attendees which issues were most important to them. He also explained “eminent domain” and it’s uses by the federal government to acquire land for public use. He said an upcoming issue for this Legislature will be the use of the Summit Pipeline to capture carbon emissions from ethanol processing. He said several states are dealing with this issue.
FPDC Executive Director Dave Bonde and President Lyle Magorien conducted the annual meeting with the assistance of FPDC Office Manager Sunny Hannum. Magorien introduced Fort Pierre’s Mayor Gloria Hanson, who talked about the Tatanka Trail Project and the $1.8M grant received from Central SD Enhancement District for that purpose.
In “The Year In Review,” Bonde talked about the ground breakings and ribbon cuttings done in 2022 including Yellowstone Senior Living Complex, Fun Time Rentals, Bad River Cannabis, and Grass Roots Cannabis.
He described the activities of the various committees: Housing, Downtown and Education. Housing Committee, with the help of City Public Works Director Rick Hahn, has been hard on the trail of coming up with a housing development project. A reveal of the evening was the potential project presented to SD Housing Authority to qualify Fort Pierre for some of the $200M in funds approved by Legislature and sent to Governor Noem for signature.
Bonde concluded by saying all eyes in 2023 will be on the building of the Yellowstone Senior Living facility, the new dual purpose hotel, and the marina preparation.

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(605) 223-7603