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<br /> Elk River EDA Strategic Plan | 7 <br />Elk River’s Economy <br /> <br /> <br />The following is a summary of economic research findings that are particularly important in <br />shaping the EDA Strategic Plan. A more detailed report on the economic research that <br />was undertaken for this plan is in the appendix. <br />Economic Development <br />Context <br />Elk River’s economic context was <br />explored through geographic and <br />asset mapping and an inventory of <br />non-location-based assets, <br />opportunities and deterrents to <br />growth. <br />The City benefits from an <br />abundance of natural amenities, <br />with frontage along the Mississippi <br />River, Elk River, and Orono Lake, <br />and large wooded parks. Its <br />highway infrastructure gives it <br />strong connections in every <br />direction, with further improvements <br />on the horizon when a long stretch <br />of Highway 169 is reconstructed. <br />The City has retail settings that <br />benefit from the City’s transportation <br />connectedness to surrounding <br />areas. They include the destination <br />retail centers along Hwy 169 and <br />the storefront business district in <br />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, and its investment in a new community-serving <br />multipurpose facility.