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of <br />C��i ty <br />lo <br />2014 EDA Annual Report <br />I A Year in Review... <br />This Annual Report is designed to showcase many of the commercial and in- <br />dustrial businesses that have located in Hugo and other economic develop- <br />ment during 2014. The goal of the Hugo Economic Development Authority <br />(EDA) is to create a thriving community with diverse jobs and tax base, <br />brought about by specific emphasis on business retention, business expan- <br />sion, and business attraction. Hugo's business community is rapidly expand- <br />ing due to strong residential growth and an attractive business environment. <br />The City had 48 new residential new construction building permits and 100 <br />multifamily units, due to the senior housing project. There were 3 commer- <br />cial and industrial constructions permitted this year. The valuation of the <br />commercial and industrial construction completed in 2014 in the City totaled <br />over $834,000.00. In this Annual Report the EDA highlights development <br />project updates, EDA business activities, and the market study for downtown <br />Hugo. The City of Hugo and the EDA welcome all of the new and growing <br />businesses to Hugo and are excited about the new jobs and services they <br />provide to the community. <br />2014 EDA Goals... <br />In December of each year, the EDA has a goal setting session to set priorities <br />for the year ahead. These become the outline for what the EDA works on and <br />completes through -out the year. Below are the goals which include action <br />items that the EDA worked on throughout the year. <br />• Downtown Redevelopment <br />• Maintain a Business Friendly Environment <br />• <br />Marketing/ Promotion of the City <br />• Create a 5 -year EDA Plan <br />