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Edina Housing Task Force <br />DRAFT March 2006 <br />Minneapolis Gas Company dinner at Southdale Center, 1957. <br />As the Task Force studied this issue, it found that housing is increas- <br />ingly linked to economic competitiveness. The high cost and limited <br />availability of housing can limit future growth. For example, Massachu- <br />setts and California have experienced workers leaving to regions of <br />more affordable housing. Portland, Maine has found that its lack: of <br />moderately -priced housing makes it difficult for businesses to attract <br />workers in the $8 to $15 an hour range. <br />Businesses in Minnesota are beginning to experience this phenomenon <br />as well. The Minnesota Chamber of Commerce reports that 18% of <br />businesses involved in their 2004-2005 Grow Minnesota program rated <br />their communities "unfavorable" with respect to housing availability. <br />Despite the growing population, Minnesota's labor force growth will <br />slow in the years ahead, from 1.5% annually this decade to 0.3% in the <br />2020s, Workers will be able to be more selective and choose employ- <br />ment closer to home. So in the years ahead, the availability and price of <br />housing could begin to figure prominently as a factor in economic com- <br />petitiveness. <br />