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City of Elk River <br /> • Economic Development <br /> Strategic Plan 2004-2007 <br /> Work Session Notes <br /> PRIORITY ISSUE #1: INDUSTRIAL DEVELOPMENT <br /> What is the issue? <br /> - Type of development preferred <br /> - Manufacturing (value added, highway) <br /> - How to increase the tax base <br /> - How to increase the employment base <br /> Why an issue? <br /> - Nothing is happening <br /> - Not staying competitive <br /> Consequences of doing nothing: <br /> - May lose existing businesses <br /> - Continue to have empty business parks <br /> - The debate goes on.....and on.... <br /> VISION ALTERNATIVES <br /> Parks are filling in with "desirable businesses" <br /> What makes them desirable? <br /> - Job type <br /> - Benefit program <br /> - Career opportunities <br /> - Retirement plans <br /> - Household supporting wages <br /> - Diverse services/products <br /> - Quality construction <br /> - Utility costs are reasonable <br /> - Land costs are "affordable" <br /> BARRIERS <br /> • Cost of land <br /> • Offers from other cities <br /> ak • Reluctant owners (to sell land) <br /> • Ability to provide utilities on a timely basis <br /> F:\SI-IRDOC\LDA\STRATPLN\2004 Update\elkedaresultsUPDATE.doc <br />