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2014.09.09 EDA Agenda Packet
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2014.09.09 EDA Agenda Packet
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Commissions
Meeting Date
9/9/2014
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 1 6-3 <br />Economic Development Plan <br />amu" o <br />
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