2040 Comprehensive Plan: Envision Shakopee

GOALS FOR ECONOMIC COMPETITIVENESS 1. Retain and Expand Shakopee’s Industrial Base 2. Attract New Industrial Users 3. Support the Diversity of Shakopee’s Business Mix 4. Leverage Downtown for Economic Development 5. Improve Shakopee’s brand in the region as a fun, livable and business-friendly community 6. Remove barriers to economic development

OVERVIEW

This element of the plan provides a discussion of Shakopee’s economic competitiveness in the past, present and future. A variety of issues and opportunities related to increasing Shakopee’s economic competitiveness in the region are considered. These include: » » Lack of economic diversity exposing the city to market fluctuations from key industries. » » Mismatch between job growth and available housing, limiting expansion opportunities for existing firms and requiring long commutes by both residents and workers. » » Disinvestment in local assets resulting in a small and stagnant office real estate market. » » Strong industrial growth can be positioned to continue to grow and attract new firms. » » Available land and redevelopment sites can be used for expanded housing options to fill market demand by workers. » » Under-utilized assets like downtown could attract new office development and higher-paying jobs that match residents’ skill sets.

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