As some Midwestern cities suffer, Sioux Falls is taking off, reports The Wall Street Journal's Shibani Mahtani.
Many areas of the Midwest have struggled with population loss as manufacturing declined and farms needed less labor. But Sioux Falls is on a tear, after undergoing an unlikely transformation into a financial and health-care powerhouse in the middle of cornfields.
After Citibank moved credit card operations to the city in 1981, things took off.
The city’s population jumped 63% over the past 15 years, the fastest growth of any metro area of more than 50,000 people between Ohio and North Dakota. A building boom downtown pushed the value of construction permits to $701.8 million last year, up from $282.9 million in 2010, city records show.