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, EDC Strategic Economic Development Plan Discussion . October 24, 2006 Page 2 of2 2. Enhance natural resource conservation and management in the City; 3. Build local capacity for economic development in the city; 4. Improve the economic security of Arden Hills' families; and 5. Prepare Arden Hills youth to be productive, positive, and equipped with life- skills for the future. In an effort to pursue these priorities, the EDC commissioned an economic development strategic plan to be prepared for the City. This plan will take the City, through 2011 and is comprised of 29 goals and objectives to achieve these priorities. The 29 goals and objectives identified in the Plan are organized around five cornerstones of economic development: . Building an Organization That Can Support Economic Development . Creating a Community that Fosters Investment . Retaining The Existing Business Base in the City of Arden Hills . Attracting New Investment and . Creating a Strong Workforce This Plan, approved and adopted by the EDC on August 16, 2006 . The Introduction in the attached Economic Development Strategic Plan summarizes the purpose of and need for the implementation of an econornic development plan in and for the City. The attached proposed budget for the 5-year implementation of the Plan reflects maximum investment. However, it is anticipated that the successful implementation of the Plan can be achieved for a lower cost than is specified in the proposed budget. For example, instead of hiring a full-time assistant in the first year, a part-time assistant would likely meet the needs, complemented by existing staft Reauested Action Staff requests Council review and discuss the Economic Development Strategic Plan before returning it to a regular Council meeting for action. .