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2009.12.14 EDA Packet
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2009.12.14 EDA Packet
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Commissions
Meeting Date
12/14/2009
Document Type
Agenda/Packets
Commission Name
EDA
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6.4. OPPORTUNITIES AND BARRIERS TO ECONOMIC DEVELOPMENT <br /> Since 1999, the City's Bald Eagle Industrial Park has seen steady development. <br /> Today, nearly all the property within the industrial park has been developed. <br /> Multiple quality businesses have located in the industrial park, bringing diverse, <br /> quality jobs to the City. Business owners that have selected to move their <br /> business into the industrial park have identified a number of advantages to <br /> locating a business in Hugo, including: <br /> • Location and transportation connections, including Highway 61, the <br /> BNSF railroad, and the close proximity of 1-35E. <br /> • Access to major markets and to available infrastructure within the Twin <br /> Cities area <br /> • Well educated, skilled, and rapidly expanding labor force <br /> • Natural resources <br /> • Schools <br /> • Diversity of housing options <br /> • Low crime <br /> • Available land <br /> • Financial incentives, including Tax Increment Financing <br /> • Constructed local infrastructure including roads and utilities <br /> • Helpful, Effective, and Supportive City Council and City staff <br /> Since 2005, the City has welcomed a number of new commercial retail, service <br /> and medical businesses to the community, bringing important goods and <br /> services to the citizens. These new business owners have identified several <br /> reasons for locating commercial businesses into the City including: <br /> • A rapidly growing population with attractive demographics <br /> • Improvements to the CSAH 8 corridor <br /> • High quality, well planned, and attractive development <br /> • Lack of other similar businesses within close proximity <br /> • Available land <br /> The City should continue to identify strengths and opportunities. In addition, the <br /> City should identify barriers to new business development and seek ways to <br /> eliminate or minimize those barriers. The City should continue this effort by <br /> asking existing business owners to identify barriers and opportunities though an <br /> outreach survey. <br /> Chapter 6 6-3 <br /> Economic Development Plan <br /> ugo <br />
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