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ti a ' r 1 an, im ort-re lacement. Instead of bu in it from some lace in Brainerd the furniture was bou ht and 2 manufactured locail and the mone sta sin the communit . 3 The followin table shows how this relationshi o has worked throe hoot the histo of Pe not Lakes. i 4 1 iC� i lti I iT2 I CD r e r i it EM a f lra x� t iezt r , z e f � e f acid tc a lesser deee l I r i 4 t i NgnEM �. 4 5 The first wa a neigftorhood center like P iuot Lakes can create a ros erous local econom i is to increase the 6 nurx€ber of ex ortin Y businesses so as to brin new ca ital into the jiv, The second wa iii is to create an 7 environment where corn etitive im ort-re olacement businesses can flourish. i 8 A healthy, ongoing'public/private partnership between the City of Pequot Lakes and the businesses located inside 9 the city limits must be based on an understanding that each has a part in the process of creatin ex ort end 10 im ort-re lacernent businesses. 11 What the city government of Pequot Lakes can do to is to create a framework for growth that provides the widest 12 variety of local entrepreneurs the greatest chance for success. 13 To do this,the City must focus on the following three principles: 14 1. Improve businesses competitiveness by reducing the tax burden. 15 I 2. Encoura business gfewtAdevelo ment by streamlining the regulatory process. 16 3. Improve business opportunity by growing the market of customers wanting good and services from the 17 businesses of Pequot Lakes. 18 Reduce the Tax Burden 19 The city tax rate is a function of the size of the tax base and the amount of government spending. Over the long 20 term,the City controls the amount of spending, but can only influence the size of the tax base.While sometimes 21 the City needs to make strategic investments to grow the tax base,those investments need to have a clear return 22 if the public spending is designed to reduce the overall tax rate. 141 Page