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<br /> <br />Elk River EDA Strategic Plan | 18 <br />o Establish a tax abatement policy that sets a standard for the level of tax <br />abatement that may be available for new business attraction. <br />o Set employment targets and wage expectations as a condition of providing <br />public financial support to new businesses. <br />4. Sector-specific opportunities. Explore opportunities to build new <br />activity in sector-specific business ecosystems in agriculture/food <br />related businesses, renewable energy, biomedical manufacturing and <br />medical services. <br />o Given Elk River’s strength in providing reliable high-quality energy and its <br />legacy of energy related businesses, and given the greater Minnesota <br />orientation of many renewable energy businesses, explore the potential of <br />fostering a cluster of renewable energy businesses in Elk River, including <br />consideration of a renewable energy incubator program. <br />o Collaborate with Elk River’s existing biomedical manufacturers to identify <br />opportunities for supply chain and other synergistic businesses that would <br />strengthen the local biomedical business ecosystem. <br />o Assemble a marketing packet that documents the demand for health care <br />services in Elk River and the relatively limited supply of service providers. <br />Initiate conversations with specific health care providers to explore whether <br />they could see an opportunity in locating new health care services in Elk <br />River. <br />