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<br />SUMMARY OF RESEARCH AND RECOMMENDED STRATEGIES <br />EDA STRATEGIC PLAN 24 <br /> <br /> <br /> <br />BUSINESS ATTRACTION & RETENTION <br />Business attraction and retention is a core area of responsibility for the local government’s <br />economic development function. Through this project’s Request for Proposal, and <br />conversations with staff and EDA members, some important strategic questions were <br />raised that fall within this overarching topic. <br />• Are the target industries that have been the focus of business recruitment still <br />appropriate? <br />• How are the limitations in land availability affecting business attraction, and how might <br />the supply of land be opened up? <br />• How effective and appropriate are Elk River’s use of incentives for attracting new <br />business development? <br />The strategies that follow address these questions and others, and provide a review of the <br />City’s business attraction and retention practices generally. <br />