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4 <br /> 4 <br />Economic Development Authority <br />2018 Annual Report The city’s EDA was established on <br />October 7, 1987, and is governed by <br />seven commission members. Four of <br />the commissioners are City Council <br />members with three other members <br />appointed by the Mayor from the <br />community at large, serving six-year <br />terms. <br /> <br />After over seven years of service to <br />our community, Commissioner Bryan <br />Provo resigned in 2019. Brian was <br />instrumental in growing our local <br />economy and in the establishment of programs and policy initiatives to help facilitate our growth. <br /> <br />We are excited to welcome our new Commissioner, Jeffrey Hartwig to the Economic Development Authority! <br />DEMOGRAPHICS <br />GOVERNANCE <br />Population Unemployment Rate <br />City of Elk River – 24,891 (2018) County – 3% (November, 2019) <br />Sherburne County – 96,208 (2018) Minnesota – 2.9% (November, 2019) <br /> U.S. – 3.3% (November, 2019) <br />Demographics Education <br />Median Age 37.1 High School Graduate or Higher 94.5% <br />Homeownership 77.4% Bachelor’s Degree or Higher 30% <br />Median Household Income $85,974 <br />Median Home Value $233,000