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Home My WebLink About10 24 2013 EDAC rept 3c attach 1 Below is proposed information to be included in the revised Prior Lake marketing packet. More information will be added and some of this information may be revised/removed based on the General bullet point comments to be revised/improved as directed by the EDAC Prior Lake is located in the heart of the fastest growing county in Minnesota. Great transportation network with close proximity to I-35 and U.S. 169. Businesses are attracted to Prior Lake for its land choices, industrial parks, infrastructure and accessible location. Residents are drawn for its open spaces, parks, trails, lakes and wetlands; strong school system; charming downtown; and abundant entertainment options. g stock offers great diversity for individuals and families of all ages. Prior Lake is a community committed to growing its business relationships. An established Economic Development Authority and Economic Development Advisory Committee to promote business and assist with business growth. According to the Prior Lake Commercial and Industrial Demand Analysis, completed in 2011 by Maxfield Research, Inc., Prior Lake has a demand for an additional 430,000 square feet of retail space, an additional 295,000 square feet of office space and an additional 180,000 square feet of industrial space by 2030. P OPULATION 2012 Population Prior Lake 23,754 Scott County 135,152 Minnesota 5,379,139 Source: U.S. Census Bureau, State & County QuickFacts Population Trends 1990 2000 2010 2020 2030 Prior Lake 11,482 15,917 22,796 33,300 40,000 Scott County 57,846 89,498 129,928 182,620 220,870 Sources: U.S Census Bureau and Metropolitan Council, 2030 Regional Development Framework Scott County is the fastest growing county in Minnesota, having grown by more than 45% since population to grow by another 70% to 220,870 by 2030. The Minnesota State Demographic Center expects the labor force to grow 69% during the same time period, from 92,700 to 156,540. L&A OCATION CCESS Prior Lake is located just 20 miles southwest of Minneapolis. With U.S. 169 just 2 miles north providing access to agricultural regions to the south and west and I-35 just 6 miles east, Prior Lake is connected to the rest of Minnesota and the nation. With the completion of the U.S. 169 bridge over the Minnesota River and close proximity to Interstate 35, Prior Lake has become a convenient location for business expansion offering a large supply of available commercial and industrial land. Entertainment Scott County boasts a major concentration of entertainment attractions. Destinations include Canterbury Park race track, Murphy's Landing living history museum, Elko Speedway, Mystic Lake Casino, the Renaissance Festival, and ValleyFair Amusement Park. Parks & Recreation Prior Lake is a premiere recreational community in the Minneapolis/St. Paul area, featuring more than 50 parks, plus 38 and 70 acre athletic complexes, encompassing approximately 1,050 acres in total. Park and recreational facilities and amenities include a library, band shelter, pavilion, fishing piers, boat slips, swimming beaches, sledding hills and more than 100 miles of trails and sidewalks. Taken together, the parks, 14 lakes and five golf courses offer a wide variety of outdoor opportunities for residents with a diverse variety of interests. The largest of the public access lakes, Prior Lake, consists of 1,340 acres and is located in the center of the City of Prior Lake. The location, size, shape and depth of Prior Lake make it a popular destination for boating, water skiing and fishing; in fact, it is considered one of the busiest lakes in the 7-county metropolitan area. The Prior Lake area also offers abundant golfing opportunities with the the Meadows at Mystic Lake Golf Course. Labor Force High School Bachelor's Graduate or Higher Degree or Higher (age 25+) (age 25+) Prior Lake 97.1% 40.2% Scott County 94.2% 36.3% Minnesota 91.6% 31.8% Source: U.S. Census Bureau, State & County QuickFacts labor force is extremely well educated with over forty percent of its residents with a T RANSPORTATION I-35 and four-lane US 169 are major transportation corridors for Minnesota and beyond. I-35 connects businesses to the east-west interstate network. includes major roadways including MN 13, County Rd. 42, MN 21 and numerous others that access the entire metropolitan area. Prior Lake provides transit from within the community to other municipalities and to downtown Minneapolis by way of the Laker Lines and BlueXpress expanding the employment options for southwest metro residents. Located in the southern part of the Twin Cities metro, MSP International Airport is easily accessible via I-494 from I-35 or US 169. Flying Cloud regional airport is minutes away. SMSC(SMSC) HAKOPEE DEWAKANTON IOUX OMMUNITY Prior Lake is unique in that it is home to the Shakopee Mdewakanton Sioux Community (SMSC) and Mystic Lake Casino, the second largest Indian Gaming Casino in the nation. The SMSC is the largest employer in Scott County. They offer their own array of opportunities to the public including numerous restaurants, Playworks, Dakotah! Fitness, Dakotah! Ice Center, two casinos and a hotel. E DUCATION Prior Lake-Savage Area School District Prior Lake-Savage Area School District 719 serves Prior Lake, Savage and surrounding townships. Within the district there are six extended-day Kindergarten through fifth grade elementary schools; one early childhood center; a school for gifted learners in grades 3-5; two middle schools for grades 6-8; an Area Learning Center for students in grades 9-12; and a high school serving students in grades 9-12. In addition, there is one charter school (Aspen Academy K-3) and several private schools including Prior Lake Christian Academy (K-12), Catholic School (K-8) and -8). Prior Lake Savage Area Schools is Top 10 in the Twin Cities in... - Providing a high-quality education. - Meeting the learning needs of students. - Leadership: school board, superintendent and administration. - Teaching and support staff. - Communicating important issues and decisions. Source: Decision Resources, 2010 survey analysis Median Household Income Prior Lake $89,805 Scott County $83,415 Minnesota $58,476 Source: U.S. Census Bureau, State & County QuickFacts Median Value of Owner-Occupied Housing Units Prior Lake $286,200 Scott County $263,100 Minnesota $201,400 Source: U.S. Census Bureau, State & County QuickFacts Taxes Prior Lake had the lowest 2012 tax-capacity based rate of the seven Scott County cities. (More tax rate info. Needed) City 2013 General Fund Budget $12,192,316 City Bond Rating Aa2 Moody's Investors Service BF&IP USINESS INANCING NCENTIVE ROGRAMS (More incentive info. needed) EDA Revolving Loan Fund EDA Microenterprise Loans Tax Increment Financing Tax Abatement MN Department of Employment & Economic Development (DEED) Sewer & Water Fee Deferral Program (SAC & WAC)