Laserfiche WebLink
City of Elk River <br /> Strategic Industrial Marketing Plan <br /> Elk River...Where city and country flow together <br /> • <br /> Challenges and Risks <br /> Economic Environment <br /> It can be expected that the region will have slow-to-moderate business growth. Thus, the <br /> plan needs to builds on the current industrial base, and business owners currently located <br /> in the Twin Cities that desire a location closer to "Up North" with all the city amenities. <br /> The regional economy appears to be growing relatively well compared to its northern <br /> competitors. However, there is concern that the region is not achieving its share of the <br /> new high-tech economy. This is evidenced by <br /> • Minnesota's share of the nation's venture capital investment dropping by 50 <br /> percent since 1995 <br /> • local high-tech firms performing poorly, growing at 50 percent of those in <br /> Colorado and Massachusetts and only by 25 percent of their counterparts in <br /> California and Texas and, <br /> • Minnesota currently ranks 28th in public stock offerings and 34th in new <br /> company growth as stated in the Star Tribune article, "Hollow Minnesota, coming <br /> too late to the new economy." <br /> Also, in the past the regional economy significantly benefited from the spin-off <br /> companies that evolved from companies like Control Data Corporation and Cray <br /> Research. Minnesota continues to see headquartered companies like Honeywell and <br /> Norwest depart which also impacts the number of new business spin-offs. <br /> Business growth is constrained by the full-employment situation and that there is no in- <br /> migration employment. With these unprecedented unemployment rates, employers are <br /> having difficulty finding and keeping quality workers. <br /> • <br /> Duckor&Associates, Inc. 17 <br /> A BluePrint For Your Success <br /> ...Today and Tomorrow April 24,2000 <br />