PRESS RELEASE

For Immediate Release Monday, November 19, 2007

Contact: Noel LaBine 763-477-3086

Otsego retail development update seminar held
at Rockwoods Banquet Center.

   

The Wright County Economic Development Partnership held a Retail Development Update at the Rockwood's Banquet Center on November 8th .

Tom Brown of Terra General Contractor's (formerly Terra Development) presented information about the new commercial & retail development called Great River Centre of Otsego. This development includes the new Target Center , which has recently begun construction. Brown also discussed the decisions leading up to both the Otsego development and the strip mall called LaBeaux Station in Albertville . Changes in the costs of these developments and the financial market make speculative retail development less desirable. In these times, developers want to have over 50% of their buildings leased out before beginning construction. There were 58 community and business leaders at this event.

The Wright County Partnership's Development Series Luncheons are a great place to network with community leaders from Wright County and get first-hand information about various development activities. The discussions held at these events have been very valuable to developers, city representatives, and others.

The Wright County Economic Development Partnership is pleased to announce this new industrial park development. “More locations for industry equates to more opportunities for business and new job creation in Wright County ,” according to Director, Noel LaBine.

The Partnership exists to enhance the business climate of Wright County and to help create more jobs in Wright County . The strategies the Partnership uses to achieve its mission include being an information resource and finding technical assistance; aiding business development through Business Retention & Expansion visits, providing financing resources, and providing business information and training through seminars and workshops. Also, the Partnership markets Wright County to business site locators, and maintains an excellent website, which includes a listing of commercial and industrial property available in Wright County (see www.wrightpartnership.org ). The Partnership also assists with Workforce Development and has gathered economic statistical information, which is available on its website.