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<br />SUMMARY OF RESEARCH AND RECOMMENDED STRATEGIES <br />EDA STRATEGIC PLAN 5 <br />ELK RIVER’S ECONOMY <br />This section of the report provides information relative to Elk River’s economy. That <br />provides a basis for the consideration of strategies for strengthening it. Two subsections <br />follow. The first focuses on the locational characteristics of Elk River that are significant <br />and that shape its economic opportunities. The second provides descriptive data and <br />analysis in exploration of Elk River’s economy and its economic performance. <br />Economic Development Context <br />Elk River’s economic context has been explored through geographic and asset mapping <br />that have been refined over the course of a number of conversations with the Elk River <br />EDA and other stakeholders. <br />Economic Context Map <br />Elk River benefits from an abundance of natural amenities, with frontage along the <br />Mississippi River, Elk River, and Orono Lake, and large wooded parks. It’s highway <br />infrastructure gives it strong connections in every direction, with further improvements on <br />the horizon when a long stretch of <br />Highway 169 is reconstructed. <br />The City has retail settings that <br />benefit from its accessibility to the <br />surrounding area. They range from <br />the destination retail centers along <br />Hwy 169 to the storefront business <br />district in downtown Elk River. <br />The City of Elk River has attended <br />to the quality of life for its residents <br />through the development of <br />recreational opportunities in its park <br />system, the creation of community <br />space on its downtown riverfront, <br />and its investment in a new <br />community-serving multipurpose <br />facility. <br />