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Memo to the City Council,Economic Development Authority,Planning Commission <br /> February 11,2003 Joint Meeting <br /> Page 3 <br /> • The key to capturing industrial development is to meet all of the following needs of an industrial <br /> client: <br /> o Site that meets the client's requirements <br /> o Financial incentives <br /> o Timely, accurate, and easy to read information <br /> o Clear expectations of process, requirements, and timetable <br /> o Responsiveness <br /> o Ease of doing business with the City of Elk River <br /> o Understanding and consistency of policies and regulations <br /> o Prompt and courteous service <br /> o Professional treatment <br /> It is clear from the analysis that the City of Elk River's industrial product offering(s) are not meeting <br /> the key requirements of the industrial client. The matrix illustrates that the City has a lack of sites <br /> that meet the industrial client's needs. The zoning/building design standards also do not support <br /> industrial development. <br /> Background <br /> The key success factors for attracting industrial development to the City of Elk River are: <br /> • Desire and commitment of the City of Elk River to attract light manufacturing firms <br /> • ■ Land acquisition incentives and competitive financial package <br /> • Zoning and design standards that are in alignment with the industrial client <br /> • Customer-driven professional staff <br /> • Strategic location <br /> • Perseverance and patience <br /> These factors were identified in the 2002 Assessment completed by Duckor&Associates, Inc. <br /> (page 4). <br /> • <br />