The City of Sioux City, Iowa, presented Van Meter Industrial with a "Growing Sioux City" business award this week honoring the company for building a new distribution center in the city's former stockyards, an area where the city is encouraging growth, according to the Sioux City Journal. In December, Van Meter opened a new $2 million, 39,000-square-foot facility in the stockyards, where it houses $1.5 million in inventory, a three-fold increase over the inventory in the company's previous Sioux City location. "The new warehouse was built on a 4.2-acre tract of land where the Livestock Exchange building and "hog hotel" once stood," said the Journal. The award was accepted by Van Meter CEO Barry Boyer. The city also planted a tree on the property in recognition of Van Meter's contribution.