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Page 113 <br />Figure 3 : Map of Current Businesses67 <br />Hwy 47 & 167th Ave NW <br />0 <br />Hwy 47 & Bunker Lake Blvd <br />Challenges <br />• Geography: The 400 acres of land and proximity to Highway 10 are both an asset and a <br />challenge for the City of Ramsey. While having ample room for growth can provide <br />opportunities for development, the city needs to be strategic about growth. Huge swaths <br />of empty land separate housing and neighborhoods from retail nodes <br />• Competition with Anoka, Coon Rapids: Other cities have rapidly grown, and other retail <br />nodes with big box stores are popular with Ramsey residents. Other cities have perhaps <br />"beaten Ramsey to the punch" <br />• Lack of existing buildings or spaces for restaurants: While some spaces exist, creating <br />sites for restaurants and retail, especially for small and locally -owned businesses, is <br />important. The capital necessary to construct new spaces is difficult for small businesses <br />to come by, so connecting small businesses with existing or new spaces would help <br />build Ramsey's retail market <br />• COR vacancies have existed for some time: Public perception of the COR and its <br />development might discourage businesses from locating there. A large marketing <br />strategy and intentional recruitment of businesses and smart use of incentives might be <br />methods to grow the COR and build its reputation <br />6 Current Business List, http://www.ci.ramsey.mn.us/brc <br />7https://www.google.com/maps/d/u/1 /viewer?mid=13Oxf8gWl9-IIQUWWoKHjoBt- <br />PGFYFtiE&11=42.72811672550691 %2C-102.03850964999998&z=4 <br />