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Item # 6 <br /> ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> el/ <br /> MEMORANDUM <br /> TO: Economic Development Authority <br /> FROM: Cathy Mehelich, Director of Economic Development <br /> DATE: March 12, 2001 <br /> SUBJECT: Strategic Economic Development Plan Update <br /> It is appropriate to briefly revisit the Economic Development Strategic Plan on an annual <br /> basis for the following purposes: <br /> • Affirm the major issues and goals <br /> • Review accomplished activities <br /> • Review remaining activities <br /> The attached revised Economic Development Strategic Plan includes four major issues and <br /> goals: <br /> • Industrial Base <br /> Attract new businesses to increase the City's industrial base <br /> • Business Retention and Growth <br /> Retain and grow the City's existing business/industry <br /> • Marketing Strategy <br /> Create an industrial marketing strategy to develop the City's business parks <br /> • Develop/Redevelop East Hwy 10 & the Central Business District <br /> Undertake activities to facilitate development/redevelopment on East Highway 10 and in the <br /> Central Business District <br /> The City,EDA and HRA have accomplished many of the Plan activities with in the last year. <br /> Namely the following items; <br /> • Development of Tony Emmerich property (SoftPac Industries, Inc.) <br /> • Development of Strategic Industrial Marketing Plan <br /> • Construction of Business Center Drive <br /> • Development of King &Main site <br /> • Modification of TIF Policy and adoption of Tax Rebate Financing Policy <br /> Many of the activities that relate to marketing efforts for both industrial recruitment and <br /> business retention will be address this year as incorporated within the City's <br /> �' Communication/Branding Process and Siting/Expansion Process. <br /> 13065 Orono Parkway • P. O. Box 490 • Elk River, MN 55330-1743 •"(612) 441-7420 • Fax (612) 441-7425 <br /> Equal Opportunity Housing and Equal Opportunity Employment <br />