City leaders hoping Hyperion hype doesn't fizzle out - KTIV News 4 Sioux City IA: News, Weather and Sports

City leaders hoping Hyperion hype doesn't fizzle out

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Hyperion Energy's decision not to extend its land options in Union County is sending shock waves across the Tri-State area. Hyperion Energy's decision not to extend its land options in Union County is sending shock waves across the Tri-State area.
SOUTH SIOUX CITY, NE (KTIV) -

Hyperion Energy's decision not to extend its land options in Union County is sending shock waves across the Tri-State area.

That business proposition would have transformed 5,000 acres of rural land into an oil refinery. That would have put out hundreds of thousands barrels of oil per day, and pumped tax dollars into local governments.

The plan has been in the works for years, so Monday's news was shocking. Economic leaders say the local economy may be missing out on a golden opportunity.

"What they're really forgetting about is the engineers and the technology, and the people and the companies and the trucking companies," said Dan McNamara, South Sioux City's economic and community development director. "It's just like things when John Morrell closed down. They didn't realize how much it affected the area, just with the extra companies that come along with it."

McNamara says a number of people are relieved that the oil refinery won't be working in their back yard, but he says that relief could come at a cost, if local economies start drying up and people begin moving away.

"People don't want things like this in their back yard, but unless they want to live there forever and never have any growth in their community, we need growth to spur population," said Dan McNamara.

South Dakota's high court will hear an appeal on Hyperion's air permit tomorrow in Sioux Falls South Dakota.

Opposing groups will also get their chance to address the Supreme Court.

That hearing is set for 10 a.m. on the campus of the University of Sioux Falls.

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