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10,6)' <br /> ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> 410 <br /> MEMORANDUM <br /> TO: ECONOMIC DEVELOPMENT <br /> AUTHORITY <br /> FROM: WILLIAM RUBI14,.."ECONOMIC DE OPMENT <br /> COORDINATOR <br /> DATE: MARCH 10, 1994 <br /> SUBJECT: 1992 RETAIL SALES ESTIMATE <br /> FOR ELK RIVER,MINNESOTA <br /> Staff is in receipt of the 1992 gross retail sales for Elk River businesses. <br /> These numbers were derived from the Tax Research Division of the <br /> • Minnesota Department of Revenue. Highlights of this information include: <br /> - Retailing in Elk River is approximately a $92.5 million endeavor <br /> 222 businesses helped generate the retail sales during 1992 <br /> - Elk River possesses approximately 53% of Sherburne County's gross <br /> retail sales: The County's 1992 sales were estimated at $174.76 <br /> million. <br /> - Elk River's 1992 gross retail sales were down slightly from the 1991 <br /> estimate of$96.07 million. The decline is estimated at 5.1% <br /> - The largest decline from 1991 to 1992 occurred in the "Food Stores" <br /> category where a $3.34 million decline was reported. This represented <br /> an 8.5% decline from 1991 to 1992. <br /> - Auto dealers and service stations had a small decline of less than <br /> $172,000 from 1991 to 1992 <br /> - Eating and drinking establishments declined just over $274,000 in <br /> • gross sales from 1991 to 1992- yet the number of establishments <br /> increased from 18 to 20 in Elk River <br /> P.O. Box 490 • 13065 Orono Parkway • Elk River, MN 55330-1743 •(612) 441-7420 • Fax: (612) 441-7425 <br /> Equal Opportunity Housing and Equal Opportunity Employment <br />