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<br />Economic Development <br /> <br /> <br />Year-end Activity Summary 2016 <br />Directors Message <br /> <br />Why Elk River? <br />The City of Elk River continues to make great strides in building an <br />Elk River has developed and grown a <br />enviable business climate and a great community. While job growt <br />reputation as the light industrial hub of the <br />business and wage growth remain robust, we continue to push to h <br />Northwest metro. <br />levels. After all, it is often stated that there is no finish line in Economic <br />Development! <br />Businesses have taken notice of our skilled <br />workforce, efficient transportation access, <br />Last year, the Economic Development Authority approved the 2015 <br />pro-business climate, and area schools that <br />Economic Development Strategic Plan. This plan outlines our path for <br />actively collaborate with local companies to <br />development, advancing work in our identified clusters in a trac <br />meet their workforce needs. <br />metric driven format. The plan also continues to stress the importance of <br />diversifying the citys economy. <br />Elk River is dedicated to development and <br />you can count on us to work hard for you <br />In 2016 we experienced a boost in our local economy! We saw 73 n <br />by: <br />single family housing starts, 2 new townhomes, and 51 single family <br />remodels generating $524,749 in permit revenues. In addition, four new <br /> Assisting existing businesses with their <br />commercial/industrial buildings were built, 41 commercial remode <br />expansion and growth needs <br />completed and one industrial remodel was started totaling $155,660 in <br /> Assisting companies with relocation to <br />permit revenue. <br />Elk River <br />We also made 22 Business Retention and Expansion visits this year! <br /> Maintaining a how do we get this done <br />BR&E visits help us gauge the strength of our business climate, help us <br />culture, shared by elected leaders and <br />improve our services and identify opportunities to support and g <br />city staff <br />local businesses. <br /> Seeking creative combinations of city and <br />Private investment and reinvestment increased dramatically year with $3 <br />state financing tools <br />million in public investment resulting in over $34.2 million in private <br />capital investment accounting for more than 34 acres of new <br />In 2016, the Elk River Economic <br />development resulting in the creation of 204 new jobs. <br />Development Authority in collaboration <br />with the Housing and Redevelopment <br />Looking ahead, we continue to receive numerous inquiries from <br />Authority launched a newly designed <br />companies wanting to expand, relocate, or start new. We are looking <br />website that is mobile friendly, and full of <br />forward to targeting and assisting specific business types to strengthen <br />up-to-date information including resources <br />and diversify our tax base. <br />for businesses, available sites and <br /> <br />Amanda Othoudt, EDFP <br />properties, housing resources, community <br />profile and information specific to our four <br />Economic Development Director <br />targeted industries: Manufacturing, Data <br />aothoudt@ElkRiverMN.gov <br /> <br />Centers, Energy and Medical Device. <br />13065 Orono Parkway <br /> <br />Elk River, MN 55330 <br />763.635.1042 * www.ElkRiver.MN.gov <br />