A high-dollar economic development project appears to be headed to the Sioux City area, based on a series of seemingly choreographed meetings scheduled today.
At 4 p.m., Gov. Terry Branstad and Lt. Gov. Kim Reynolds are scheduled to announce in Sioux City “another large capital investment for the state of Iowa,” according to a media advisory.
Possible projects that are being talked about are a potential $1.5 billion data center project the state is competing with Nebraska to win, or another project that officials said could be a $2 billion investment in Iowa prior to year’s end.
The announcement will be preceded by a 3 p.m. meeting of the Iowa Economic Development Authority (IEDA) board in Des Moines to vote on an economic development incentive package for that project, known only as “Project X.”
At precisely 3:05 p.m., the Woodbury County Board of Supervisors is scheduled to vote on a resolution “approving the formation of a development agreement in connection with Project X,” the Sioux City Journal reported.
Tina Hoffmann, an IEDA spokeswoman, said the name of the company normally would be made available beforehand, but “due to special circumstances,” it will not be revealed until the board’s 3 p.m. meeting.
Asked about the appearance that the independent board has already made a decision prior to the public meeting given the timing of Branstad’s announcement, Hoffmann said “there has been some discussion already undertaken” during a previous public meeting of the board in October, and that a due diligence committee meeting today will bring its recommendation to the board.