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Deleted:Economic Development <br /> Economic Development Plan for Arden Hills Times havecha 9 d andwtn <br /> them so has the underlying <br /> The EDC represents the interests of Arden Hills' residents, but with,special economic structure in which we <br /> • all live. This new economy <br /> emphasis on the corporate residents that share and contribute to our requires smart thinking by our <br /> leadership facilitated by new <br /> community resources. ways of solving problems and <br /> y collaborations with sometimes <br /> unexpected partners. In the new <br /> economy,the ticket to faster and <br /> The EDC members gather and consider business community input and broader income gis <br /> innovation.This econocono my puts a <br /> recommend,to the City Council actions that support those interests• monitors premium on wont the Nobel <br /> � laureate in economics Douglas <br /> North calls"adaptive efficiency," <br /> �uslness activity;_and collaborates with other city committees and which refers to the ability of <br /> institutions to innovate, <br /> commissions to ensure a positive environment for economic development. continuously learn,and <br /> productively change.As markets <br /> fragment,technology <br /> accelerates,and competition <br /> Finding itself at a crossroad for growth, the City of Arden Hills engaged the comes from unexpected places, <br /> learning,creativity,and <br /> services of DeSCo in the summer of 2006 to create a strategic plan for the adaptation have become the <br /> principal sources of competitive <br /> City. This plan of action was developed from an interactive process advantage in many industries. <br /> Enabling constant innovation <br /> involving substantial community input¢using De_S_C_o_'s,proprietary needs to become the goal of all <br /> organizations committed to <br /> methodology develop and ex.perie..nce.of_Lreating strategic plans for prospering.Similarly,the g <br /> communities throughout the United States. The final stage of our Deleted:spcial <br /> Deleted:s <br /> engagement resulted in the development of this strategic plan. Deleted:use of <br /> Deleted:to be <br /> The plan is segmented to address the EDC Strategic Imperatives: Deleted:not <br /> Deleted:a point of isolation but <br /> from <br /> ■ Build an Organization that wjll Support Economic Development Deleted` <br /> • • Attract and facilitate a Community that Fosters Investment Deleted:¶ <br /> ■ Retain and grow The Existing Business Base in the City of Arden Hills, <br /> while at the same time tolerate churning in new business start-ups and Deleted:our <br /> existing businesses, Deleted:ed <br /> ■ Develop and maintain strong relationships between City leaders and the Deleted:through <br /> largest corporate, academic and,non-profit residents,and Deleted:,DeSCo went to work in <br /> ■ Create an environment attractive to educated, creative or talented Arden Huls to develop a.str, ..,121. <br /> individuals to provide a strong workforce for the City's businesses, with Deleted:¶ <br /> t <br /> emphasis on quality more than quantity. Deleted: <br /> Deleted:T <br /> Every economic development organization is pressed with deciding how Deleted:w <br /> many of these five cornerstones their budget and staffing will allow them to Deleted:: <br /> Deleted (acadmenic <br /> address. Once they determine which cornerstones they can approach they <br /> Deleted:l <br /> are then faced with determining the relative emphasis to be placed on each Deleted:> <br /> cornerstone. In the formulative stages of the organization„more work is Deleted:: <br /> Deleted: much <br /> Strategic Plan for Economic Development Page 5 of 21 <br />