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Citibank is planning to build a new Sioux Falls headquarters.

“Reflecting Citi’s ongoing commitment to South Dakota, the company plans to complete construction of a new operations facility in Sioux Falls by the end of 2019,” the company said in a statement.

“The new building will be more technologically advanced than its current site to better accommodate our needs going forward.”

A location hasn’t been finalized yet but could be announced soon, spokesman Mark Rodgers said.

Citibank has occupied its headquarters in northeast Sioux Falls since it began operations here in 1981. About 1,600 people work on-site and about 200 work from home. The employees occupy one building on the current campus and part of a second.

“We’re underutilizing the space,” Rodgers said. “What we’re looking at now with the new building is it will be better in terms of right-sizing for what we’re using at this point. We’re always adjusting employment levels to deal with our business needs. That’s far out at this point, so we don’t have any announcements to make on employees.”

Because the new building won’t be occupied until end of 2019 it’s hard to project how many people will work there, he said, but he called it a significant construction project.

“I think it shows the commitment to Sioux Falls and South Dakota.”

Avera recently announced plans to lease space in Building 3, where Daktronics also has been leasing space.