01-19-10 EDC Meeting - Laserfiche WebLink

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i endeavor. The City benefits by having lower costs for aggregate products than surrounding areas, °',AT,' but must also deal with the potential for pollution as well as increased damage to local roads from hauling operations. , (4....1.:- i Transient Merchants . Numerous transient merchants—such as vegetable stands,fireworks trucks,mini-donut vendors, temporary greenhouses,and arts and crafts-operate periodically within the City of Pequot Lakes. ,1-- •' Although they are required to obtain permits,special exemptions have been granted to some and most others do not bother to apply. These mercTiants primarily augment t ie permanent local ;), r' z retailers during peak seasonal times. In order for <: ' F this sector to succeed,they need relaxed . regulation and high numbers of people. Transient ;, it merchants benefit the local community i OPEN ' n that they provide niche goods at costs typically lower than FR1'$ §�: otherwise available. Often,however,they directly 10•.5 compete with established,tax paying businesses. ;° �t •, In some cases,in order to gain a competitive 3 advantage over the established businesses,they r ? - " .:` 4 need to employ banners or signs that can become Y- 4 ,, p�1 x..," excessive and detrimental to community character. ,,r)..t . . `:r ,. ? ?1 ,"X",S y` ~` F ,~ ,.'I , �p* '-.1 Transient merchants selling niche goods can Policies benefit the local community. '--24:‘,4t, se fr-A The following policies are proposed to guide future economic growth and development in Pequot Lakes: 4, : Assist local businesses with leveraging capital.To maintain a sustainable local economy,the City . - of Pequot Lakes needs to create an environment for businesses to establish,grow and prosper. The City needs to help new businesses and businesses in transition leverage capital. The availability of capital is the most important factor in creating and expanding a business. There are numerous opportunities open to the City to free up capital for businesses or to connect businesses with sources of funding,from tax increment financing([IF)to revolving loan funds and community development ' corporations. The City should consider these and other mechanisms as part of an economic development strategy. Partner with local economic development agencies to support and enhance businesses.The '' 'Y City needs to assist in energizing the local business spirit.An entrepreneurial spirit in a city is a 1, contagious thing. If the City continues to show a dedication to business,our partners in the Chamber ' t` of Commerce and the Pequot Lakes Economic Development Organization will help promote it City , �y officials need to be active in business networks reinforcing the idea that local economic advances will 1 come largely through local cooperation. Ensure a skilled and educated local workforce.The City should also work to enhance the local work force. Human capital is vital to the success of Pequot Lakes in this modern age ofbusiness. 2003 This starts with an educated workforce,which will serve as the framework for all economic development endeavors. Emphasis needs to be placed on a good school system in order to build the human capital needed for a successful economy. Partnerships with the local school district and the Central Lakes College can help the City capitalize on these institutions. Once you have an educated workforce,there are more opportunities for the local economy to be innovative and sustainable. 38 Comprehensive Plan