Elko New Market values existing businesses and welcomes new enterprises. Our small town teamwork and "can do" attitude is especially well suited to entrepreneurs and small businesses.
It's a prosperous community, with a median household income topping $90,000, more than 38% higher than the 13-county metro area at $65,181, according to the US Census Bureau, American Community Survey (2006-2010 ACS). Elko New Market ranks in the top 5 percent of Minnesota cities for total population increase and first in the rate of 10-year population growth (2010 census).
The City encourages economic development to provide jobs, increase tax base, and offer convenient goods and services for its residents.
Ideally positioned on the south side of the Minneapolis Saint Paul (MSP) metro area, Elko New Market is located on I-35, the best connection between the thriving metro area of 3.2 million and the nation's interstate highway network. It's just 28 minutes from the MSP International Airport, and offers great regional and sub-regional transportation connections.
Elko New Market businesses are well positioned to take advantage of the best of both rural and urban areas. Employers value the stability of the rural workforce as well as the rich pool of managerial, technical and professional workers attracted to the urban amenities of the MSP region. The workforce is well educated, with 97 percent of the population graduating from high school and 36.5 percent attaining a bachelor's degree or higher. That's 14 and 30 percent higher than the national average, and 7 and 18 percent higher than Minnesota's average, respectively, according to ACS data.
Elko New Market is a common sense small town where we work to help businesses grow and succeed. Whether you need help finding a location or securing financing, we're ready to help. Contact Thomas Terry, City Administrator to find out about expanding, locating, or starting a business in Elko New Market.
Thomas Terry, City Administrator
"I've worked with cities for the last 35 years, and Elko New Market has been phenomenal."
Midstate Reclamation & Trucking
"The City of Elko New Market was excellent to work with as we considered expanding our clinic network. Thomas Terry provided additional insight into this growing market and helped us connect with the right resources. We appreciate the Planning Commission's willingness to flex their schedule to help us meet our deadlines. It's a pleasure to work with people who want to be partners for progress."
President & CEO
Northfield Hospital & Clinics
"New Market Bank had an opportunity to purchase an un-platted parcel for a future bank location. The City of Elko New Market met with us as necessary to get the transaction completed in a short, challenging timeframe. They truly cared about serving our needs. As a banker and former county commissioner, I've been involved in many development projects. The City of Elko New Market is always a reliable partner."
New Market Bank