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Section I: Introduction <br />Overview <br />The City of Ramsey (Ramsey) is located at the northwest outskirt of the <br />Minneapolis -St. Paul metropolitan (MSP metro) area. The city the second fastest <br />growing city in the Anoka county with rising population and households faster than the <br />MSP metro area'. Ramsey spent significant resources focusing on developing its new <br />downtown - The Center of Ramsey (COR). This development, when fully realized, will <br />include 400 acres of high -density housing, mixed -use office space, retail space and <br />recreational venues2. 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 in the city3. This study suggests that the Ramsey has <br />an opportunity to develop more restaurant options and that the local residents are also <br />interested in more dining options. Based on the previous study, the Ramsey looks to <br />further explore the feasibility of establishing a restaurant incubator in the city. <br />Objectives <br />This current study intends to comprehensively analyze the Ramsey restaurant <br />customer draw area (CDA) and the challenges of operating food incubators to establish <br />the feasibility of establishing a food incubator. <br />Main findings <br />• Ramsey is located within 15 minutes 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 restaurant CDA has significant retail leakage for full -service restaurants <br />• Ramsey restaurant CDA currently has a market size that can support between <br />110 to 152 restaurants <br />• Most food incubators struggle to make a profit <br />• The societal benefit, however, such as empowering small -businesses owned by <br />women, minority or low-income groups as well as serving the needs of local <br />residents 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 />