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106ECONOMIC COMPETITIVENESS2040 COMPREHENSIVE PLAN UPDATE DRAFT Dec14-17 <br />for review only <br />Marketing the City <br />The City should market its strengths and opportunities to desirable <br />businesses through communication and marketing strategies� Simply <br />making the information available to the business community is the first <br />and most important step� The City should prepare annual economic <br />reports of activity within the City, and make them readily available to <br />developers� The City should also continuously update its Economic <br />Development webpage with current and relevant information about <br />activity and incentives and provide helpful community profiles <br />that speak to the development community� Information such as <br />demographic data, community characteristics, and information about <br />the City’s workforce, traffic counts, and listings of available land or <br />buildings should be communicated within attractive narratives and <br />graphics� The City of Hugo is commonly described as “an urban <br />environment in a rural setting’ which holds many strengths identified <br />by its business community� Branding the City for its strengths, story <br />and success will retain the attention of the development community� <br />The information should be distributed wherever possible, and the City <br />should source creative outlets to market to desirable businesses� <br />The City should continue to cooperate and share information with <br />partners such as the Hugo Area Business Association (HBA), the <br />White Bear Area Chamber of Commerce, Washington County <br />Community Development Agency (CDA), and the state Department of <br />Employment and Economic Development (DEED)� The City should <br />continue to work with surrounding communities and with Washington <br />County to encourage the creation of an east metro economic <br />development strategy� <br />Establish Financial Incentives to Attract New Business <br />Development <br />The City should evaluate all incentives available for use by the City� <br />Policies should be implemented for the use of incentives, including the <br />use of the City’s Tax Increment Financing Policy� <br />The City should evaluate other costs associated with the development <br />or operation of businesses within Hugo� Costs should be compared <br />to other cities and the fee structures or other costs should be <br />reformulated where possible to remain competitive� <br />Image Placeholder