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ACG <br />Preliminary Analysis <br />The development of a business park should not be undertaken unless considerable research <br />and analysis of the market has been completed. Market analysis is essential to the success of <br />the business park and it must be carefully and professionally completed before actual <br />development activity begins. The decision on what industries to pursue rests on experience <br />and knowledge of the assets and liabilities of the community as well as which businesses are <br />actively looking for new sites for expansion. <br />Reasons to consider the development of a new Business Park include: <br />1. There is currently a lack of readily available sites for new business development in the <br />community. Success with expanding the community's tax base and the creation of new <br />jobs will be limited without the availability of sites that are ready and available for new <br />development. <br />2. The national economy, and more specifically the economy in Minnesota, has substantially <br />improved. According to the US Department of Labor, Minnesota had the fifth fastest <br />growing economy in the nation in 2012. This was the state's best year for growth since <br />2004. Forbes Magazine named Minnesota the eighth best place to do business in 2013. <br />Also in 2013, American City Business Journal's index of "top performing metropolitan <br />economies" ranked the Twin Cities seventh in the country, jumping 48 spots from a year <br />earlier. <br />3. Major transportation improvements are currently being planned or are underway in Ramsey <br />that will have a very positive affect. Construction of a new bridge at Highway 10 and <br />Armstrong Boulevard will improve traffic flow and provide better access for the community. <br />Ramsey recently announced that funding has been secured for this improvement project. <br />Construction will begin in 2015. In addition, the Minnesota Department of Transportation <br />plans to make incremental safety improvements to U.S. Highway 10 in the near term <br />making this corridor more acceptable to commuters, business and industry. <br />4. A community development trend that is unfolding is the growing expectation and even <br />demand by millennial's for work -life balance. They are increasingly choosing to live closer <br />to their work in an effort to achieve this balance and minimize their downtime in traffic. To <br />be successful at attracting residents in the future, communities must not only have a <br />variety of housing styles and types, they must also provide employment opportunities in <br />close proximity to support the concept of work -life balance. <br />5. The City of Ramsey has a track record of successfully developing business parks. These <br />parks include Business Park 95, Energy Park, Sunfish Lake Business Park, and Azurite <br />Business Park. All of these business parks were sponsored by the City of Ramsey. As a <br />result of these efforts Ramsey has had significant success with attracting new business and <br />jobs to the community. <br />Ramsey Business Park Phase I Research Report <br />