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<br />Economic Development <br /> Year-end Activity Summary 2015 <br /> <br /> <br /> <br />Why Elk River? <br /> <br />Looking back at 2015, the Economic Development Division can <br />Elk River has developed and grown a <br />proudly pause, and take a collective breath, recognizing the <br />reputation as the light industrial hub of <br />numerous development projects brought to fruition. <br />the Northwest metro. <br />The local economy saw an upswing in single family and <br />Businesses have taken notice of our <br />commercial and industrial permits which were the result of <br />skilled workforce, efficient <br />groundbreakings for Sportech, Inc., GATR Trucking, Inc., and <br />transportation access, pro-business <br />climate, and area schools that actively <br />collaborate with local companies to <br />Business Center. We also saw a number of facility expansions <br />meet their workforce needs. <br />including J&J Machine. <br />Elk River is dedicated to development <br />Private investment and reinvestment increased dramatically this <br />and you can count on us to work hard <br />past year with $2.3 million in public investment resulted in over <br />for you by: <br />$24.7million in private capital investment accounting for more <br />Assisting existing businesses with <br />than 161,700 square feet of new development. <br />their expansion and growth needs <br />Looking ahead, we continue to receive inquiries from various <br />Assisting companies with relocation <br />companies wanting to expand, relocate, or start new. Frequent <br />to Elk River <br />requests seek large lots with public utilities, creating a demand to <br />acquire more industrial land for development. <br />In 2016, we look forward to rolling out a new (fifth) Microloan <br />leaders and city staff <br />program to further target and assist specific business types and <br />Seeking creative combinations of <br />diversify our tax base. <br />city and state financing tools <br />I am happy to say the future of Elk River looks bright! <br />In 2015, the Elk River Economic <br />Amanda Othoudt <br />Development Authority was featured in <br />Economic Development Director <br />the Business Xpansion Journal in an article <br />aothoudt@ElkRiverMN.gov <br />outlining our most recent development <br />13065 Orono Parkway <br />projects. The periodical has a reach of <br />Elk River, MN 55330 <br />75,000 print and digital subscribers. <br />763.635.1042 <br />www.ElkRiver.MN.gov <br />