06-12-2003 Long Range Planning Commission Minutes

Home Browse Search

highway 371 corridor,now presents convenient alternatives for many service and consumer needs. Forces of agglomeration should continue to grow this center, and that will impact the viability of competing businesses within driving distance, including those in Pequot Lakes. • Shifts in Employment from Agriculture/Forest Products to Retail and Service. Between 1990 and 1998,manufacturing employment grew by 24 percent in Minnesota's rural areas compared to only 3 percent growth in the seven-county metropolitan area. During the same period of time,the finance, insurance and real estate sector(25%growth)and the service sector(30%growth) in rural areas both outpaced the Twin Cities growth in those sectors2. In general, changes in technology and education levels have helped shift rural economies, including that of Pequot Lakes,into manufacturing and service and away from traditional agriculture and forest product industries. Future growth should continue these trends. • Demands of Modern Business. The modern business requires basic 21"century business amenities for successful,sustained economic growth. These include a skilled labor force,venture capital,proximity to a research institution and high- speed internet access3. The advantage that rural communities once had in low labor and land costs and access to raw materials are becoming less of a competitive edge,especially given advances in transportation infrastructure. The Pequot Lakes area can fill some of these modern needs,but others are beyond will remain beyond its reach for some time into the future. • Aging and Shifting Demographic. The most significant demographic force shaping Pequot Lakes and the entire Central Lakes Region is the aging of the baby-boom generation and the increased number of retirees moving to the state's recreationally rich areas. The median age in Pequot Lakes is 38.6,compared to 35.4 statewide4. This disparity will continue to widen in the coming years and will impact the area labor force if the rise in retirees is combined with the flight of young workers to urban centers. As a demographic subset,baby-boomers are the most affluent retirees in history. This will have implications on the availability of venture capital as well as demand for consumer goods and services. • Zoning Controls in Adjacent Cities. Pequot Lakes has been,and will continue to be,impacted by the planning and zoning decisions of adjacent communities. Strip commercial zoning in Breezy Point will provide low-cost raw land which will allow for low-budget commercial development and a short-term economic advantage. This is likewise to a lesser degree in the City of Jenkins,which has experienced some highway-oriented commercial growth. Continued development and sustaining of time-share and resort destinations in Breezy Point,Nisswa and Lake Shore will continue to provide tourists for Pequot's growing retail shopping areas. As neighboring cities become more developed and urban in character, Pequot Lakes has the potential to maintain an advantage in attracting tourists seeking a more natural,northwoods experience. By creating strong connections to cities like Nisswa and Breezy Point and by retaining its rural character and 2 Growing Rural Economic Success,MN Planning,July 2001 3 Growing Rural Economic Success,MN Planting,July 2001 4 2000 Census