Looking Back at 2024 as the Elk River Development Authorities Work Hard in 2025

There is a lot happening in Elk River that will promote economic development and growth in the coming years. While some of this growth is organic as more people move to the area and bring their businesses here, other improvements are the direct efforts of the Elk River Economic Development Authority (EDA) and the Housing and Redevelopment Authority (HRA). Throughout the year, the EDA and HRA promote business investment, job growth, and quality-of-life improvements that make living in Elk River more enjoyable.  

“Growth continues to be speedy,” says Josh Mollan, Economic Development Specialist for the City of Elk River. “We’ve been working with developers and are adding new retailers as well. There will be new employment opportunities as commercial and industrial areas continue to expand.”

Here are a few highlights from 2024 that allowed the EDA to end the year successfully. Many of these projects and additions to Elk River will benefit the community well into the future. 

Thunderstruck Exteriors Broke Ground

Thunderstruck Exteriors broke ground on its new headquarters at 171st Ave and Twin Lakes Rd, within Natures Edge Business Center. The facility will feature a 9,100-square-foot warehouse and office space for the growing roofing and siding company. Thunderstruck Exteriors specializes in helping homeowners make repairs after disasters and maximizing insurance settlements so people get the full value they deserve. The land for the new facility was purchased from the EDA.

“It’s always good to work through city inventory and find sites that work for businesses,” says Mollan.

Heritage Millwork Purchased 14 Acres of Land

Heritage Millwork is another business coming to Elk River in the near future. The company purchased 14 acres of city land to construct a 110,000-square-foot headquarters for its pre-hung window and door distribution business.

“This is one of the biggest projects that the EDA has handled in recent years, both in terms of land sale and the physical size of the project,” says Mollan. “We are happy that Heritage Millwork chose Elk River to consolidate its growing operations.”

Heritage Millwork is consolidating three sites, two in Ramsey, and one in Elk River, to the newly purchased 14 acres.

Medical on Main Started Construction

The HRA sold a two-acre site to a local developer for the creation of a 6,000-square-foot medical building with room for additional expansion for medical use. This facility sits between Highway 10 and Highway 169 near the newly constructed Main Street interchange.

This new facility creates additional amenities for Main Street and improves access to medical care in Elk River. Residents won’t have to travel far to receive quality health services. 

The EDA Approved the Sale of Land to Develop a Kwik Trip

One of the most exciting things about Elk River’s growth is that new opportunities are cropping up across the city, including the west side of town. In April 2024, the EDA approved the sale of land to Java Companies to secure the construction of a Kwik Trip. This project should be a catalyst for growth in the area and spur additional investment to increase amenities for residents and visitors on the west side of town. 

Downtown Elk River Won Retail Community of the Year

The Downtown Elk River Business Association (DERBA) recently won the 2024/25 Retail Community of the Year from Minnesota Retailers Association. DERBA was recognized for its, “extraordinary commitment to creating a vibrant and thriving downtown,” and is a leading example across Minnesota.

From beautification efforts and lively events to new restaurants and stores opening downtown, it's clear that Elk River is growing and providing even more opportunities for residents and visitors to discover the charm of downtown.

Wayne Swart State Farm Wins Beautification Award

Wayne Swart, a State Farm insurance agent, received the Beautification Award from the City of Elk River for his interior and exterior renovation project on a vacant downtown building. He was one of six nominees and was the only business to receive two nominations.

“I was just trying to make our new spot shine a little brighter, and make it look more inviting,” says Swart. “Our office was proud to be even nominated. It was nice to know that others saw the work we put in to make our new spot more appealing.”

Small changes can have a big impact on the community. When one business takes pride in its landscaping and exterior appearance, others can join in and make Elk River a beautiful place to live. 

The EDA Debuted a Public Art Installation: Where Energy Flows

With a recommendation from the Beautification and Public Art Committee, the EDA commissioned Carey Dean to create Where Energy Flows, a public art piece available at the Furniture and Things Community Event Center. This installation was made possible by an $8,000 Central Minnesota Arts Board grant and the EDA’s commitment to public art in the community by funding the balance of the $20,000 project. The parallelogram-style stained-glass mosaic was inspired by views of the Mississippi River from downtown Elk River.

The EDA hopes to bring additional art installations to the public in the future. 

2025 Will Bring Additional Growth to Elk River

In 2024, the City of Elk River approved building permits that totaled $24 million in commercial valuation and $38.4 million in residential valuation. This means that future development is coming as companies expand and developers invest in additional housing. The EDA is at the forefront of this development and strives to contribute to a town where residents continue to be proud to live.

“We’re really supportive of businesses,” says Mollan. “Companies that want to expand their footprint or move their operations here should meet with economic development staff. We can look for incentives and programs to facilitate the process.”

Whether you are a local business owner or Elk River resident, keep up with the EDA throughout 2025. You can see how the city is changing for the better and have a voice in future developments. The EDA works for Elk River residents, so let us create a hometown that you’re excited about.