5.0. EDSR 12-13-2004 - Laserfiche WebLink

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— * PROGRESS PARTNER City of =il"4:V,:'.,t: ispatchElk. River December 2004 The Light Industrial Hub of the Northwest Metro Award-winning high technology firm chooses Elk River FINANCIAL INCENTIVES, LOCATION WERE KEYS FOR GRADIENT TECHNOLOGY RELOCATION n award-winning highA City helped with financing Gradient paid up front for a two acre, technology firm has a new City staff had been in touch with $145,556 lot in the Elk River Business ome in Elk River. Gradient officials for about a year and Park,but is being reimbursed through With the help of the city,Gradient half by the time the firm was ready to tax abatement from the City.The firm Technology Inc.,plans to continue its go ahead with the project in January, also received a $100,000 Industrial innovative ways in a new,13,000 according to Catherine Mehelich, Incentive Micro Loan. square foot headquarters and research Director of Economic Development At the time this article was written in and development facility. for the City of Elk River. At the time, mid-November,Gradient officials said "The city personnel were extremely Gradient was located in leased space they were on track to move into the helpful,"says Eric B.Haehn,Gradient's in Blaine. facility before the end of November vice president and chief financial offi- The Elk River Economic Development as planned. cer. "(The Elk River Economic Department provided a range of Gradient likes location Development Department)held our services,from a list of contacts at local Although Gradient officials considered 0 hand,basically,and took us through banks to a proposed package of other cities,they especially like Elk the process." financial incentives. The financing River's location,Mr.Haehn says. Gradient is a winner of the U.S.Small package was approved by the Elk Business Administration Tibbetts River City Council in June and ground Gradient employs several chemical Award,the SBA's highest national was broken for the new light industrial engineers who are associated with the recognition for innovative technology. facility July 7. University of Minnesota,he explains, so they benefit Elk River's relatively close proximity to the U of M and its , '` academic resources.In addition, .2- 14: since much of Gradient's work is '''''''';—::n .< performed out of state,they also t P - Nappreciate the city's easy access to µti Minneapolis-St.Paul International K ' Y s '' -�a�''' 4,..**r, \ Airport and other major transportation .v I." .� �.: i., routes. w� ' ., , - On a more personal note,Elk River's northwest metro location also gives ''p *� ' i Gradient employees a head start for y$ 4 • # weekend trips to the lake region ofe " t "' +;. Minnesota where many of them have .f ', . ,z .0 ' t vacation homes. - "" kThe need for regular rest and �.. , :t relaxation is understandable. , Gradient's primary business is 0 Elk River assists firm with financing "demilitarizing"obsolete munitions for The Elk River Economic Development Authority recently provided a$50,000 Micro Loan the U.S.Department of Defense. to Display Solutions.Company officials say the financing was instrumental in getting Mr.Haehn is quick to emphasize that their start-up business off the ground.Pictured from left to right are:Tom Buchta,Jim the Elk River facility will be used strictly Studee and Mob Michalek of Display Solutions and Cathy Mehelich and Heidi Steinmetz of the Elk River Economic Development Department. for a corporate headquarters,R&D and continued on page 2