What You Should Know About Elk River Economic Development

The City of Elk River is supported by several government departments that work to improve the community. The Elk River Economic Development Authority (EDA) and the Housing and Redevelopment Authority (HRA) support existing businesses and entrepreneurs, attract new companies to the area, as well as promote redevelopment and housing initiatives. This benefits all residents, who can enjoy diverse employment opportunities, along with new restaurants, shops, businesses, and housing.

This guide serves as an introduction to economic development in Elk River. Inside, we’ve highlighted a few of the ways the EDA and HRA actively support the local economy and make a tangible difference for the residents and business community of Elk River.

How can the Elk River EDA help my business? 

The EDA offers several resources to support entrepreneurs and experienced owners alike. The Business Toolbox is a great place to start to learn about local opportunities, incentives, and low-interest loans. The EDA offers opportunities to promote your business through its Open for Business video series. If you have any specific needs, don’t hesitate to reach out. We can schedule a meeting to discuss your goals and identify potential solutions or opportunities.   

How can I find available commercial space in Elk River, Minnesota? 

The EDA has a page dedicated to available sites and properties in Elk River. There are currently shovel-ready certified sites available, along lots in various nearby business centers. The search and filter tools on this page make it easy to narrow your options by specific criteria, so you only see properties that meet your needs. If you want to talk about purchasing commercial properties further, don’t hesitate to contact the economic development staff. 

What are the location advantages of Elk River? 

There are several benefits to choosing Elk River for your business expansion or relocation. The city is located just 35 miles northwest of the Twin Cities, offering the amenities of a big city with the charm of a smaller community. It has immediate access to US Highways 10, 169, and 101. This community is educated, with 30% of residents achieving a Bachelor’s Degree or higher. Come be a part of one of the fastest-growing cities in Minnesota. 

What is the Elk River Housing Rehabilitation Loan Program, and how can it help me? 

The Elk River HRA also supports housing initiatives to improve the housing stock for current and future residents. The Housing Rehabilitation Loan Program provides low-interest loans of up to $35,000 to help property owners make necessary improvements and repairs. This prevents local housing developments from falling into disrepair, protecting existing inventory. This program is run in collaboration with the nonprofit Center for Energy and Environment.   

What is the Elk River City Beautification Award? 

The City Beautification Award celebrates local businesses that have taken steps to improve their properties. These improvements can range from modernizing exteriors to improving landscaping or adding new signage. The awards are given annually, and businesses are nominated for their great work. (They can also nominate themselves for recognition.) The goal is to enhance the community's aesthetic appeal, thereby improving residents' quality of life.   

What are the Elk River Garden Gem Awards? 

The Garden Gem Awards is an exciting new program launched in 2025. Both residents and business owners can submit their gardens and landscapes for an award. There are multiple categories to recognize the hard work of everyone who manages excellent gardens, or who develops a garden area for the first time. Meet our most recent winners and consider submitting your garden or business landscaping this summer. 

How can I get involved with the EDA or HRA? 

There are multiple ways to engage with the Elk River EDA. Connect on Facebook to stay up to date on relevant programs and events, as well as learn more about new development projects throughout the community. Community members can also serve on both boards and guide the EDA and HRA’s initiatives.

How can I connect with the Elk River Economic Development team?

There are multiple ways to contact the economic development staff. Meet the team and find the right person to email or call with your questions. You can also follow the City of Elk River Economic Development on Facebook for updates and to discuss issues that are important to you. The economic development department is located in City Hall, at 13065 Orono Parkway if you would like to visit in person.