This is due in part to a diverse group of businesses and industries located in Elk River. The city and numerous local lenders provide financing to new and expanding businesses. Programs may include industrial revenue bonds, tax increment financing, supplemental micro loans, tax abatement, venture capital funds, as well as full service community banking opportunities. Most significantly, for a community of its size, Elk River enjoys one of the lowest overall tax rates in the entire state of Minnesota. As part of Elk River's commitment to retain this low tax rate and a high quality of life, the City Council recently adopted a Growth Management Plan and an Economic Strategic Development Plan.
Proper planning ensures that growth initiatives are effectively implemented and managed.
This is Elk River's commitment to creating better jobs, providing quality housing options, and producing more opportunities for everyone.