6.0. EDSR 06-14-2004 ITEM # 6.
City of
Elk
River
MEMORANDUM
TO: Economic Development Authority
FROM: Catherine Mehelich, Director of Economic Developmen
DATE: June 14, 2004
SUBJECT: Economic Development Strategic Plan 2004 Update
In March and May 2004 the EDA participated in two work session discussions for the Economic
Development Strategic Plan Update. Jim Brimeyer facilitated the work sessions. Additional
participants included the City Council,HRA, and EDA subcommittees Incubator Advisory,
Finance,Marketing, and city staff.
The group identified the following 2004-2007 priority issues in order of importance:
• Industrial Development
• Central Business District (CBD)
• Transportation
• Commercial Development
Interestingly, the 2000-2003 Strategic Plan included the following priority issues:
• Industrial Base
• Business Retention and Growth
• Marketing Strategy
• Develop/Redevelop East Highway 10 and the CBD
The group had healthy discussions about the Industrial Development strategies and Central
Business District strategies. Staff will draft strategies for the remaining two issues;
Transportation and Commercial Development. The EDA will have an opportunity to review the
strategies prior to staff's drafting of an action plan. Following is a timetable for review and
adoption of the Economic Development Strategic Plan:
• May June Staff drafts Transportation and Commercial Development strategies
• July EDA reviews strategies and provides feedback for staff
• July Staff drafts action steps based on the strategies and completes draft Plan
• • August-Sept. EDA, Council and HRA considers adopting the 2004-2007 Strategic Plan