HomeMy WebLinkAbout09 01 2015 EDAC rept 3a_Attach1Business Focus
Pad Ready Land and Zoning Information
Prior Lake is positioned for continued commercial and industrial development with more than
300 acres of planned business park and industrial land and over 80 acres of commercial,
business park and industrial land ready for development.
Land value; price per square foot compared to other communities
Tax rate
Available City and County incentives
The Prior Lake City Council and Economic Development Authority (EDA) participate in and
have access to the following programs which provide economic assistance to business and
industry locating or expanding in the city.
EDA Revolving Loan Fund
EDA Microenterprise Loans
Tax Increment Financing
Tax Abatement
MN Department of Employment & Economic Development (DEED) Loans and Grants
Sewer & Water Fee Deferral Program (SAC/WAC)
Technology Village Business Accelerator
Scott County CDA Open to Business Program
Economic Gardening Program
Arts, culture, entertainment
Thriving downtown (activities and events)
SMSC (size, proximity, jobs, entertainment)
Prior Lake is home to Mystic Lake Casino Hotel, which is the largest employer in Scott County
and offers many entertainment and recreation opportunities.
Permits pulled, new businesses, Mom & Pop businesses.
The City of Prior Lake has issued more than 550 permits for new residential housing units
since January 2011. More than $12.5 million has been spent on commercial and industrial
construction and addition/alteration since January 2011.
Unemployment Rate (June 2015)
Prior Lake’s unemployment rate of 3.8% is 1.5% lower than the national unemployment rate.
Scott County 3.3%
Minnesota 3.9%
U.S. 5.3%
Residential Focus
Household Income
Prior Lake’s Median Household Income (MHI) of $93,897 is $34,061 higher than the State of
Minnesota MHI and $40,851 higher than the national MHI.
Prior Lake $93,897
Scott County $86,112
State of MN $59,836
US $53,046
Schools
Prior Lake-Savage Area School District 719 serves Prior Lake, Savage and surrounding
townships. Within the district there are six elementary schools, two middle schools and a high
school. In addition, Prior Lake is home to several private schools.
Newsweek has named Prior Lake High School one of the top 500 high schools in the country;
ranking in the top 2.9% of high schools in the nation.
Prior Lake-Savage Area Schools is TOP 10 in the Twin Cities in...
Leadership: school board, superintendent and administration.
Providing a high-quality education.
Meeting the learning needs of students.
Teaching and support staff.
Communicating important issues and decisions.
Growth
Prior Lake has grown from a population of 15,917 in 2000 to 24,911 in 2014, an increase of
56.5%. The population of Prior Lake is expected to reach nearly 40,000 by 2040.
Low Crime Rate Compared to Metro
Lakes, Parks & Recreation
More than 100 miles of trails and sidewalks and more than 50 parks encompassing
approximately 1,050 acres.
Park and recreational facilities and amenities including two large athletic complexes, a
library, band shelter, pavilion, fishing piers, boat slips, swimming beaches and sledding
hills.
Prior Lake, which totals 1,340 acres and is considered one of the most popular lakes in the
seven-county metropolitan area for boating, skiing and fishing.
Abundant golfing opportunism with the Wild’s Golf Club, Legends Golf Club, Heritage
Links Golf Club, Cleary Lake Golf Course, Stonebrook Golf Club and the Meadows at
Mystic Lake Golf Course.
RiverSouth: Land of Big Fun - Partnership of Canterbury Park, Mystic Lake Hotel Casino,
the Renaissance Festival, Valleyfair, the Cities of Shakopee and Prior Lake and the
Shakopee Mdewakanton Sioux Community. Huge attractions, world-class facilities, and
breathtaking scenery, all within Scott County (www.riversouthmn.com).
High School & College Graduates
96.8% of Prior Lake residents are high school graduates, or higher, which is 4.7% higher than
the State of Minnesota average and 10.8% higher than the national average.
Prior Lake 96.8%
State of MN 92.1%
U.S. 86.0%
With 42.7% of residents with a bachelor's degree or higher, Prior Lake is 10.1% higher than
the State of Minnesota average and 13.9% higher than the national average.
Prior Lake 42.7%
State of MN 32.6%
U.S. 28.8%
High School Fab Lab
Prior Lake High School is home to a new small-scale fabrication laboratory (Fab Lab) allowing
students to create almost anything using some of the same technology and equipment found in
Minnesota businesses and used by today's work force. Students who use the Fab Lab are
developing their critical thinking and communications skills, expanding their creativity and
learning to collaborate with their peers while being introduced to hands-on, real-world
experiences they will encounter in college, on the job, and in life.
PLHS is collaborating with the University of Minnesota's MnDRIVE (Minnesota Discovery,
Research and InnoVation Economy) initiative on robotics, sensors, and advanced
manufacturing. This collaboration will be a large part of the Fab Lab's success and will provide
PLHS staff and students with the training, mentorship, and resources in engineering and
technical curriculum that is needed to create a strong program.
Small Town Feel
When residents were asked what they liked most about our community, Prior Lake’s residents
identified the community’s small town feel as their top choice. The sense of belonging and
strong community ties are an important aspect of our quality of life in Prior Lake that will be
preserved for the future.
Population Age Range
2014 Population = 24,911
Persons under 5 years, percent, 2010 = 7.3%
Persons under 18 years, percent, 2010 = 28.6%
Persons 65 years and over, percent 2010 = 9.3%