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Priority #2 <br />Business Retention and Growth <br /> <br />Retain and Grow the City's Existing Business and <br />Industry <br /> I~ Coordinate the efforts of"Joint Development Agreements" and/or <br /> the city purchase of land in order to provide expansion opportunities <br /> for EXISTING businesses <br /> ~ Maintain consistent contact with existing businesses through the <br /> use of letters and surveys <br /> ~ Initiate a "Business Incubator" program to support the location of <br /> high tech and job intensive business growth within Elk River <br /> ~ Use available financing tools to leverage private investment in order <br /> to retain existing businesses and encourage growth <br /> ~ Improve the perception and visibility of the Economic Development <br /> department's business retention efforts through the use of the city <br /> newsletter <br /> I~ Work with the Department of Trade and Economic Development, <br /> Small Business Administration, Central Minnesota Initiative Fund, <br /> and other resources to increase awareness of existing programs <br /> which provide support for business expansion and growth <br /> ~ Expand the Micro Loan program to assure that existing businesses <br /> qualify as a high priority consideration <br /> ~ Examine and research the implementation of new programs which <br /> focus on business retention <br /> ~ Work with the Sherburne County economic development office to <br /> address the issue of labor force availability <br /> <br /> <br />