Raven Industries Recently sold
Raven Industries has been a huge part of the Sioux Falls area for over 60 years; now the business is being bought by CNH Industrial, an agriculture tech company. A few departments within Raven Industries include Aerostar, Engineered Films and Applied Technology. These departments and their work in ag tech resulted in the $2.1 billion dollar buyout.
“Anytime a company is acquired you’re always a little bit nervous, what does that mean? Does that mean that jobs are going to go away, does that mean that the company is going to go away?” Sioux Falls Mayor Paul TenHaken said.
“I think this has the potential to be a real good thing for Sioux Falls and will bring even more jobs, more white collar, high paying jobs to our community than even exist right now,” TenHaken said. “Raven has diversified our economy in terms of the types of jobs that they’ve brought. We have a lot of mechanical engineers, electrical engineers, a lot of high end jobs that Raven has brought to the community as their ag tech platform has evolved.”
Raven currently employs 900 people in the United States, with its main headquarters staying in Sioux Falls since the 60s, and TenHaken hopes this partnership will continue into the future.