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I Distant markets — those beyond the immediate region — are within reach of Pequot Lakes due to quality 2 transportation systems, excellent broadband connectivity and adequate telecommunications systems. Continued 3 improvements to all of these systems will enhance the community's competitiveness and allow local businesses 4 access to unlimited markets. 5 POLICIES 6 The following policies are proposed to guide future economic growth and development in Pequot Lakes: 7 Assist local businesses with leveraging capital.To maintain a sustainable local economy, the City of Pequot Lakes 8 needs to create an environment for businesses to establish, grow and prosper. The City needs to help new 9 businesses and businesses in transition leverage capital. The availability of capital is the most important factor in 10 creating and expanding a business. There are numerous opportunities open to the City to free up capital for 11 businesses or to connect businesses with sources of funding, from tax increment financing (TIF) to revolving loan 12 funds and community development corporations.The City should consider these and other mechanisms as part of 13 an economic development strategy. 14 Partner with local economic development agencies to support and enhance businesses. The City needs to assist 15 in energizing the local business spirit. An entrepreneurial spirit in a city is a contagious thing. If the City continues 16 to show a dedication to business, our partners in the Chamber of Commerce and the Pequot Lakes Economic 17 Development Organization will help promote it. City officials need to be active in business networks reinforcing the 18 idea that local economic advances will come largely through local cooperation. 19 Ensure a skilled and educated local workforce.The City should also work to enhance the local work force. Human 20 capital is vital to the success of Pequot Lakes in this modern age of business. This starts with an educated 21 workforce, which will serve as the framework for all economic development endeavors. Emphasis needs to be 22 placed on a good school system in order to build the human capital needed for a successful economy. 23 Partnerships with the local school district and the Central Lakes College can help the City capitalize on these 24 institutions. Once you have an educated workforce, there are more opportunities for the local economy to be 25 innovative and sustainable. 26 Provide appropriate housing options for the local workforce.The ability to live and work in the same community 27 is important. Local housing policy that provides for workforce housing options is critical to maintaining a viable 28 work force. Housing that is enticing to all members of the workforce from the top executives to the unskilled 29 laborers must be made available. Pequot Lakes needs to be a desirable place to live for the entire work force, 30 meaning recreational opportunities and diverse buying prospects need to be advanced. 31 Provide and maintain adequate infrastructure for businesses in Pequot Lakes. It is essential that the City maintain 32 solid infrastructure. Having two telecommunications leaders in town provides the City with an opportunity to keep 33 pace with advances in telecommunications and to plan and facilitate their continual upgrade locally. Roads and 34 streets need to be maintained, and sidewalks and other walkways provided in areas where pedestrian access is 35 critical. Adequate parking must be planned to support a downtown business environment. Water and sewer 36 expansions should be planned so that businesses can anticipate future availability. All new developments must 37 have adequate right-of-way for telecommunications infrastructure. Storm water management is also an essential 38 component of any downtown redevelopment strategy and is needed in Pequot Lakes. 39 Protect Pequot Lakes' natural, scenic, and recreational amenities. Pequot Lakes amenities including its natural 40 resources, scenic beauty, and recreational opportunities - need to be protected. Much of the economic growth 141 Page