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2 <br /> <br />Priority 3: Workforce Development Plan <br />Summary: Access to labor pools and a skilled workforce is critical to retention <br />of existing businesses and facilitating new opportunities. Linking local <br />businesses with workforce development resources is an important role for City <br />Economic Development efforts. <br /> <br />Priority 4: Identification of Potential Redevelopment Areas and Strategic Acquisitions <br />Summary: Reinvesting in underutilized property is a valuable tool for City <br />economic development efforts. The City should also be ready to act when <br />property becomes available to meet long term development and infrastructure <br />needs. <br /> <br />Priority 5: Continue to Promote Development of the I-35E/Main Street Corridor <br />Summary: Development in this area will be predominantly market driven. The <br />construction of the Watermark housing development creates additional <br />commercial opportunities. Industrial development interest is increasing, but will <br />be dependent on the availability of public infrastructure to serve the sites and <br />active landowner participation. Infrastructure improvements and “readiness” will <br />be a driving factor in attracting new development. The City’s partnership with the <br />Minnesota Technology Corridor provides regional exposure to the locational <br />benefits of the area. <br /> <br />Priority 6: Updating and Expanding the City Marketing Materials <br />Summary: The development and updating of the marketing materials for the <br />community to be able to readily react to opportunities for new projects and the <br />expansion of existing businesses. <br /> <br />EDAC CONSIDERATION <br /> <br />Discuss plan and recommend its adoption <br /> <br />ATTACHMENTS <br /> <br />1. Draft 5-Year Strategic Plan