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2024 Lake Elmo EDA <br />Economic Development Work Plan <br /> <br />4 <br />Drafted 11/21/2023 – Updated 2/12/2024 – Approved by EDA 2/20/2024 <br />Attachment B <br />Strengths, Weaknesses, Opportunitfes, Threats Group Discussion – July 21, 2021 <br /> <br />Strengths Opportunities <br />Available land (zoned, open, transportatfon) Demand for warehouse and industrial <br />Low tax base Shift in workplace/telecommutfng <br />Large residentfal base (high incomes) Broadband <br />Educated talent pool Downtown <br />Central geographic locatfon Partner with County <br />Highway 36 & I-94 Survey small businesses <br />Interest in development Airport <br />Flexible zoning Neighboring communitfes <br />Quality of life Imatfon (4 Front) <br />Excellent schools Recreatfon opportunitfes <br /> Truck/trailer parking <br /> <br />Weaknesses Threats <br />Infrastructure availability Competftfon neighbor communitfes <br />Neighboring communitfes New workforce (post pandemic) <br />Perceptfon (not business friendly) Social unrest <br />Small city (talented city staff) Economic future <br />Conflictfng goals Wisconsin <br />Clean energy Perceptfon of the past <br />Economic incentfves Resources for businesses <br />Data on talent availability Unknowns (Met Council) <br />Educatfon/training <br />Transit