HRSR INFORMATION 05-03-2004 - Laserfiche WebLink

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Economic Development 2003 Annual Report • The Strategic Industrial Marketing Plan will assist the city in addressing several major issues and goals identified in the City of Elk River Economic Development Strategic Plan. CITY OF ELK RIVER STRATEGIC INDUSTRIAL MARKETING PLAN GOALS 2002 2004 MARKET STRATEGY, OBJECTIVES AND POSITIONING • To establish the City of Elk River as the hub for light manufacturing firms in the northwest metro region of the Twin Cities by 2005. • To build out East and West Business Parks with a range of building sizes that meets the City of Elk River's design standards by 2010. • To target the following Standard Industrial Classification sectors: Industrial Machinery, Fabricated Metal and Electronic Equipment. CORE STRATEGIES • Product Offering To provide excellent location site services, attractive land locations, and pricing that • reflects a good-value and competitively priced product. • Competitive Strategy To collect and maintain current information on key competitive communities including land price, available land with utilities, and local incentives. • Key Account and Lead Generation Strategy To establish the Gty of Elk River as the place to site a light-manufacturing firm with economic development key influencers, leaders, and providers. • Promotion and Advertising Strategy To promote that the City is "Open for Business"and to generate leads for the East and West Business Parks. • Public Relations Strategy To create awareness that the Gty of Elk River is a business-friendly community for light manufacturing firms. • Strategic Partnership Strategy To establish strategic partnership to support long-term Economic Development in the area. • Business Retention Strategy To retain and expand the current industrial base in the City of Elk River.