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5.0. EDSR 12-13-2004
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5.0. EDSR 12-13-2004
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City <br /> Elk -.- . <br /> River <br /> lit65 Orono Pkwy <br /> River,MN 55330 <br /> continued from page 1 expand eligibility for that program to "We did make some concessions that <br /> equipment fabrication.The actual businesses citywide rather than only benefited Gradient Technology but <br /> "demilling"takes place at the Naval the West Business Park.That made which will benefit other companies <br /> Surface Warfare Center in Crane,Ind., Gradient eligible for a larger, coming in,"Ms.Mehelich says.■ <br /> and other operational military bases. $100,000 Micro Loan - enough to <br /> close the gap. For information on site and <br /> High-paying jobs financing opportunities for <br /> Although Gradient is clearly benefiting Although the amendments were your company,please call <br /> from its association with Elk River,the prompted by Gradient's specific <br /> (-,r ) 6351040, or visit us on the <br /> needs,the changes to the program Web at www.cielk-river.mn.us <br /> award-winning high tech firm's move mean that other businesses will also <br /> is also a boom for the community,Ms. and click on"Grow Your Business." <br /> be eligible for larger Micro Loans in <br /> Mehelich says. the future. <br /> At the time the project was approved, <br /> Gradient had 13 full-time employees, <br /> several of whom are highly paid Elk River is No. I in employment growth <br /> chemical engineers.The firm has <br /> pledged to create five more full-time herburne County led all 13 Central Minnesota counties in job creation <br /> jobs in Elk River within the next two from Q1 2001 through Q1 2004,and Elk River had the fastest job <br /> years with wages ranging from $15 growth in Sherburne County. <br /> to $75 per hour,according to its <br /> agreement with the city. ELK RIVER POPULATION GROWTH (2000-2003): 2,100+ <br /> "We were particularly pleased with <br /> their growth rate,"Ms.Mehelich says. ELK RIVER JOB GROWTH <br /> Others will benefit (QI 2001-QI 2004): <br /> SEGMENT. NEW JOBS <br /> Initially,due to its planned location <br /> Construction 111 <br /> and the nature of its business, — <br /> Gradient was only eligible for a Finance and Insurance 87 <br /> $50,000 Supplemental Micro Loan. l.Ianagement 8? <br /> Yet,even with the owner's Public'Administration -0 <br /> contribution and the tax abatement, Healthcare and Social Assistance 64 <br /> . that wasn't enough to cover the Professional and Technical Services 59 <br /> project costs. Building Material and Garden Supply Stores 28 <br /> Consequently,the Elk River City Educational Services 20 <br /> Council amended its Industrial <br /> Sources:DEED, Quarterly Census of Employment and Wages, U.S. Census Bureau, <br /> Incentive Micro Loan Program to Population Estimates Program <br />
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