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<br /> <br /> <br />Economic Development <br /> <br /> Year-end Activity Summary 2017 <br /> <br />Director’s Message <br /> <br />Why Elk River? <br />The City of Elk River strives to be proactive and take actions to facilitate <br />Elk River has developed a reputation as the <br />business growth, redevelopment, housing diversity, and reinvestment in <br />light industrial hub of the Northwest metro. <br />the community. While job growth, business and wage growth remain <br />robust, we will continue to push to higher levels in 2018. <br />Businesses have taken notice of our skilled <br />workforce, transportation access, pro- <br />In 2017, we experienced a boost in our local economy. We saw 113 new <br />business climate, and area schools that <br />single family housing starts, a 35% increase over the previous year. <br />actively collaborate with local companies to <br />Although no new commercial/industrial buildings were built in 2017, we <br />meet their workforce needs. <br />have seen an increase in commercial/industrial redevelopment projects. <br />Elk River is dedicated to development and <br />We also made 24 Business Retention and Expansion (BR&E) visits this <br />you can count on us to work hard for you <br />year! BR&E visits help us gauge the strength of our business climate, <br />by: <br />help us improve our services and identify opportunities to support and <br />grow our local businesses. <br /> Assisting existing businesses with their <br />expansion and growth needs. <br />The EDA added the Beautification Committee which gained popularity <br />as the year progressed. Ten businesses in the community were selected to <br /> Assisting companies with relocation to <br />receive awards recognizing them for either making substantial <br />Elk River. <br />improvements to their property or maintaining their properties in an <br /> Maintaining a “how do we get this done” <br />attractive manner. <br />culture, shared by elected leaders and <br />In 2017, we received 16 inquiries from companies wanting information <br />city staff. <br />on how to expand, relocate, or start new. Although, not all of them will <br /> Seeking creative combinations of city, <br />solidify plans to develop projects over the next year, we keep the line of <br />county and state financing tools <br />communication open so when they are ready to make that next step, we <br />are here to help. <br />In 2017, the Elk River Economic <br />Development Authority in collaboration <br />In 2018, we look forward to attracting our targeted industries to our <br />with the Housing and Redevelopment <br />community to strengthen and diversify our tax base. <br />Authority completed a review of all of our <br /> <br />financial policies in an effort to create more <br />user-friendly applications. <br />The EDA and the HRA also joined forces <br />to create a Joint Finance Committee to <br />Amanda Othoudt, EDFP <br />review all financial applications going <br />Economic Development Director <br />forward. <br />aothoudt@ElkRiverMN.gov <br /> <br /> <br />13065 Orono Parkway <br />Elk River, MN 55330 <br />763.635.1042 * www.ElkRiver.MN.gov <br />