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Section I: Introduction <br />Overview <br />The City of Ramsey is located in the northwest outskirts of the Minneapolis -St. <br />Paul Metropolitan Area (MSP metro). Ramsey is the second fastest growing city in <br />Anoka County with population rates and new households rising faster than the MSP <br />metro area.' Ramsey spent significant resources focusing on developing its new <br />downtown - The Center of Ramsey (COR). When fully realized, this development will <br />include 400 acres of high -density housing, mixed -use office space, retail space and <br />recreational venues.2 To attract new businesses to the COR and stimulate the growth of <br />current businesses in Ramsey, the city has conducted a preliminary study on <br />establishing a business incubator.3 This study suggests that the City of Ramsey has an <br />opportunity to develop more restaurant options and that the local residents are <br />interested in having more dining options. Based on the previous studies done, Ramsey <br />has narrowed their incubator interesting to explore the feasibility of establishing a <br />restaurant incubator. <br />Objectives <br />This study's goal is to comprehensively analyze Ramsey's restaurant customer <br />draw area (CDA) and the challenges of operating food incubators. It will then assess the <br />feasibility of establishing a food incubator in the City of Ramsey. <br />Main findings <br />• Ramsey is located within 15 minute drive of two established restaurant nodes. <br />• The two restaurant nodes have high proportions of fast-food restaurants. <br />• The area north of Ramsey has limited access to major restaurant nodes. <br />• Ramsey's CDA has significant retail leakage for full -service restaurants. <br />• Ramsey's CDA currently has a market size that can support between 110 to 152 <br />restaurants. <br />• Most food incubators struggle to make a profit. <br />• The societal benefit — such as empowering small -businesses owned by women, <br />minority or low-income groups as well as serving the needs of local residents — <br />should be considered. <br />1 Community Profile - Ramsey. https://stats.metc.state.mn.us/profile/detail.aspx?c=02396311 <br />2 City of Ramsey. The COR. http://www.ci.ramsey.mn.us/463/The-COR <br />3 Talent & Tenacity: Sparking an Incubator in Ramsey. Burga 5211 <br />2 <br />