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CITY pF IFIUGO 1908 In 2006, improvements were completed on to County Road 8, which resulted in a four-lane divided roadway, including extensive landscaping, street lighting and decorations. The roadway not only improves traffic capacity, it establishes an improved entrance to the City, and new business opportunities. The area near the intersection of CSAH 8 and Victor Hugo Boulevard has been experiencing significant retail development over the past two years. This includes a grocery store, retail shops, several banks, restaurants, medical uses, a gas station, and a day care. The buildings offer a high level of architectural design with quality materials, innovative site planning, landscaping, and attention to detail. In addition to recent improvements of this county road, demand for retail space at this location is mostly due to the recent surge in residential development in Hugo and proximity to Interstate the 35E interchange. The City recognizes this gateway as an opportunity to thread commercial and residential services through to HWY 61, and connect with the downtown corridor. Opportunities and Barriers to Economic Development Since 1999, Hugo has welcomed a variety of new industrial, commercial retail, service and medical businesses to the community. Areas like the Bald Eagle Industrial park have experienced steady development and have brought diverse quality jobs to the City. Today, nearly all the property within the park has been developed, and existing businesses continue to locate and expand. The commercial industry has also found success in Hugo while providing important goods and services to the community. This is due to a number of advantages to locating in Hugo, identified by the business community, which include: • Location and transportation connections, including Highway 61, the BNSF railroad, and the close proximity of I -35E. • Access to major markets and to available infrastructure within the Twin Cities area • Well educated, skilled, and rapidly expanding labor force • Low tax rates • Financial incentives, including Tax Increment Financing • Constructed local infrastructure including roads and utilities • Helpful, effective, and supportive City Council and City staff • Natural resources • Schools • Low crime • Diversity of housing options In 2010, The City completed a Business Retention and Expansion program (BR&E) in partnership with the University of Minnesota Extension Services. The program included business visits that surveyed a variety of retail, service, and industrial businesses in the community. A total of 38 businesses participated in the program. Overall, the survey results indicated that businesses in Hugo are hopeful for the future. The results also identified several reasons for locating businesses into the City including: • Available land • A rapidly growing population with attractive demographics • Improvements to the CSAH 8 corridor • High quality, well planned, and attractive developments • Lack of other similar businesses within close proximity DRAFT 2040 Comprehensive Plan Update — Economic Development HUG16015 - September 15, 2017 4