2007.08.20 EDA Packet - Laserfiche WebLink

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9.0 ECONOMIC DEVELOPMENT The City of Hugo has identified economic development as a priority issue in its comprehensive planning process. The Planning Commission's Economic Development Committee produced a set of policy statements concerning the economic future of the City. The policy statements set goals, standards and projected anticipated community impacts of the proposed activities. The proposed activities require the City to take an advocate position on commercial and industrial expansion, recommend general locational placement of new development activities and become involved in the formation of a local Economic Development Corporation. Developing a structure to expand and enhance the local industrial and commercial base in Hugo will require a truly grass roots approach. Currently there is no local Chamber of Commerce (some business persons belong to the White Bear Lake Chamber), no Housing and Redevelopment Authority, no Economic Development Commission or Corporation and essentially, no vehicle to coordinate the local business community. The local business sector has been exclusively a product of private initiative and locational chance. The challenge to the City thus becomes both organizational and directional. To this end the following plan is provided, including an assessment of City strengths and weaknesses, general approach to economic development for Hugo, and a suggested action program with specific activities. 1. Assets and Liabilities Hugo possesses certain assets as well as specific liabilities in attracting local industry. These factors are here addressed as strengths or weaknesses present in establishing the goals and objectives for future economic development. Hugo's strengths include: ➢ A high quality local environment ➢ A well-educated and skilled labor force ➢ Available raw land, potentially planned for industrial development ➢ Good transportation access to major markets ➢ Close proximity to the facilities available in the metropolitan Twin Cities ➢ A sound basic infrastructure ➢ A diverse range of housing, including "starter" homes and modest price housing The City's weaknesses arise from its inattention to the balance of commerce and industry needed for a healthy local employment base and the subsequent strong economic and tax base. While the laissez-faire approach to business is 'a historically acceptable philosophy, economic competition has favored communities conducting more aggressive marketing of their commercial/industrial land. Therefore, these weaknesses have been identified: City of Hugo Page 112