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Building Permits <br /> New Single New Total Value <br /> Family Residential Commercial/Industrial (All Permits) <br /> Year Number Value Number Value <br /> 2013 (to 12-15) 82 $15,182,066 2 $ 4,225,000 $38,243,137 <br /> 2012 36 6,588,264 3 1,936,650 25,585,264 <br /> 2011 11 2,264,011 0 0 20,719,402 <br /> 2010 15 3,098,919 3 5,120,272 22,311,703 <br /> 2009 16 3,391,309 5 1,650,863 14,265,340 <br /> Source: City of Elk River. <br /> Recent Development <br /> The development community's interest in Elk River continues to rise, with several major projects <br /> approved in 2013. Preferred Powder Coating started construction on a new 100,000 <br /> square-foot manufacturing building in October 2013. Expansions were approved for Orluck <br /> Industries and Alliance Machine, adding 37,500 square feet to those projects. Smaller <br /> economic development projects provided loans to local businesses, including Blue Egg Bakery, <br /> and energy efficiency loans for PS Dance and Ralphie's Victory Lane. <br /> In 2012, the City opened its newest business/industrial park with Natures Edge Business <br /> Center, located south of the Northstar Commuter Rail station. The first phase included three <br /> lots, one of which was sold to Preferred Powder Coating. The City anticipates looking into the <br /> second phase of the development in 2014. <br /> Financial Institutions <br /> The following full service banks are located in the City*: <br /> Deposits <br /> As of 9-30-13 <br /> The Bank of Elk River $330,031,000 <br /> The First National Bank of Elk River 222553,000 <br /> Total $552,584,000 <br /> In addition, branch offices of Wells Fargo Bank, National Association; U.S. Bank National <br /> Association; Central Bank; Pine River State Bank; and TCF National Bank are located <br /> throughout the City. <br /> * This does not purport to be a comprehensive list. <br /> Source: Federal Deposit Insurance Corporation, http://www2.fdic.dov/idasp/main.asp. <br /> - 27 - <br /> 108 <br />