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Community Opportunities Profile
Location Information
River Falls, Wisconsin
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Contents Letter from the City Administrator ......................................................................................................... 2
Location Information ................................................................................................................................. 3
Community Features ................................................................................................................................. 4
Population ............................................................................................................................................... 4
Community ............................................................................................................................................. 4
Colleges & Universities ......................................................................................................................... 5
Options for Finding Employees ........................................................................................................... 5
River Falls Business Parks ........................................................................................................................ 6
River Falls Industrial Park ........................................................................................................................ 7
Whitetail Ridge Corporate Park ............................................................................................................... 8
Sterling Ponds Corporate Park ................................................................................................................. 9
Emerging Opportunities Site .................................................................................................................. 10
Connecting Businesses ............................................................................................................................ 11
Local Business Leaders ............................................................................................................................ 12
Loan Programs Available ....................................................................................................................... 13
New Facility Financing Options ............................................................................................................ 14
Direct Support through Tax Incremental Financing ....................................................................... 14
Build-to-Suit, Lease-to-Own ............................................................................................................... 14
River Falls Municipal Utilities ................................................................................................................ 15
Why Wisconsin? ....................................................................................................................................... 16
Why St. Croix Valley Region? ................................................................................................................ 18
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Opportunities in River Falls, Wisconsin Dear Prospective Business Partner, River Falls is uniquely positioned as a full service community with close proximity to the Minnesota border and Twin Cities markets. A vibrant Main Street with a diverse mix of professional services, restaurants, and retail shops adds to the small town charm of River Falls. UW-River Falls, Chippewa Valley Technical College, and the River Falls Economic Development Corporation all provide vital support to new and existing businesses. Our goal is to collaborate with our community partners to provide a strong, inclusive environment where people and businesses can thrive. River Falls and its accessible corporate parks maintain a highly visible location along State Highway 35. Improvements to this highway were completed in 2010, resulting in a limited access, four-lane expressway from the corporate limits of River Falls to Interstate 94. Residents and businesses enjoy a rapid 6-minute connection to I-94. In 2014, construction on the Radio Road Interchange was completed. This interchange provides access from State Highway 35 to Whitetail Corporate Park, the new Sterling Ponds Corporate Park, University of Wisconsin-River Falls’ Laboratory Farm and the emerging opportunities area of 325 acres City-owned land for future development. Where practical, River Falls has historically accessed a variety of financing programs and incentive programs as a way to assist business recruitment and retention within the community. We do not utilize a one-size fits all approach to development. For each project, we match the best resources available to help the business reach its development objectives. We appreciate your time and invite you to consider investing in the community. Please feel free to contact me at (715) 426-3402 should you have any questions or elaboration. Sincerely,
Scot E. Simpson City Administrator
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Location Information Proximity to Minneapolis-St. Paul Metropolitan Area River Falls, Wisconsin is conveniently located along State Highways 35, 65 and 29, just minutes from I-94 and less than 30 minutes from downtown St. Paul. In 2014, the Radio Road
Interchange was completed that provides access to the Sterling Ponds Corporate Park from State Hwy 35. Currently, St. Croix County is improving Radio Rd from the Interchange to CTH MM and renaming it CTH U, providing additional access to land southwest of the new interchange.
River Falls At-A-Glance • Minneapolis/St. Paul Metro Location with
Wisconsin Property and Corporate Income Tax Advantages
• Less than 5 miles from Interstate 94 via 4-lane freeway and new Radio Road Interchange
• 400 acres owned by the City with additional adjacent private land
• Attractive incentives for Corporate and Light Industrial Tenants include contribution of land at no cost
• Home to the University of Wisconsin – River Falls
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Community Features Population The 2015 population of River Falls is estimated at 15,180 residents. This is an increase of 2,620 people and over a twenty percent increase since the 2000 census estimate. River Falls is located in St. Croix and Pierce counties. Both counties are recognized among the State of Wisconsin’s fastest growing counties. In addition, both St. Croix and Pierce counties are included in the 16-county definition of the Minneapolis-St. Paul Metropolitan area. The population in the Twin Cities is estimated at 3.3 million residents.
Community River Falls is home to an active and engaged population that enjoys a large trail system and a pristine Class I trout stream. Year-round activities provide an opportunity to experience this vibrant America in Bloom award-winning city. Bicycling is a welcome method of transportation in River Falls as the city holds a designation as a Bicycle Friendly Community. River Falls has also achieved designations as a Playful City, Tree City, and Bird City. Our community values inclusiveness and welcomes a diverse range of views and opinions about how to build a welcoming and progressive place to live.
One result of our inclusive community is the coexistence of a business-friendly mindset and an acute awareness of the need to maintain a healthy environment in and around River Falls. The City Hall holds the distinction of being the State of Wisconsin’s first City Hall to achieve LEED certification in sustainable construction. Also, River Falls Municipal Utilities is a national leader in promoting green energy and ranks fifth nationally in green power sales as a percentage of total retail electricity sales.
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Colleges & Universities River Falls is home to the University of Wisconsin-River Falls (UW-River Falls) and the Chippewa Valley Technical College (CVTC). UW-River Falls is a NCAA Division III institution that has been a staple of the River Falls community since 1874. The main campus is situated on 226 acres in the heart of River Falls and includes 26 buildings and two lab farms. Enrollment is approximately 6,455 students. CVTC is part of the Wisconsin Technical College System and serves an 11-county region of west central Wisconsin. CVTC has an enrollment of 500 students. In addition to the River Falls campus, CVTC has locations in Eau Claire, Chippewa Falls, Menomonie, and Neillsville. There are numerous public and private colleges/universities and technical colleges located in Wisconsin and Minnesota near River Falls given the City’s proximity to the Twin Cities. In west central Wisconsin, UW-Stout is located in Menomonie, approximately 40 minutes from River Falls, and UW-Eau Claire is approximately one hour from River Falls. Wisconsin Indianhead Technical College (WITC) has a campus in New Richmond, approximately 20 minutes outside of River Falls.
Options for Finding Employees Census data suggest that over 50 percent of the residents in River Falls commute to work for longer than 15 minutes. Many of these commuters drive as far as Minneapolis for work. Any business that locates in River Falls will have the opportunity to tap into the commuting workforce and allow residents to work where they live. The St. Croix Valley Job Center is located in River Falls and serves multiple counties as a resource for announcing and posting job vacancies. The St. Croix’s Economic Development Corporation and the Pierce County Economic Development Corporation are two county-wide economic development organizations that routinely publicize company expansions and relocations. The River Falls Area Chamber of Commerce is another resource where job announcements and vacancies can be posted. UW-River Falls offers numerous opportunities for businesses to seek employees. The students at UWRF provide an opportunity for quality temporary, seasonal, and part-time work. Many of the employees of UWRF come to River Falls with family members who also seek employment and present an opportunity for residents to stay local for work.
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River Falls Business Parks River Falls currently has three shovel-ready business parks in the City and one Emerging Opportunities Site for future development. Here is a concept map of the parks and their relation to the City and access to infrastructure. All three shovel-ready business parks have 1-gigabit broadband capacity provided by your choice of carrier. Robust electric, water, and waste water service is provided locally by the River Falls Municipal Utilities. Zoning in the three parks is I-1 Industrial, with an area of I-2 Heavy Industrial in the legacy industrial park. The Sterling Ponds and Whitetail Ridge Corporate Parks and the future Opportunities Site also benefit from the recent construction of the Radio Road Interchange in 2014, which provides access to the parks from Highway 35. Businesses that locate in these parks will have excellent visibility and access from a major state highway. The City's investment of $4.5 million in the interchange is an example of the City's priority to be a business-friendly location.
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River Falls Industrial Park 265 Mound View Road This 7.02 acre platted site at the corner of Mound View Road and Troy Street is the last site available in the legacy River Falls Industrial Park. The location provides easy, paved public right-of-way access to and from State Highway 35 & Interstate 94, and is a flat and level site ready for development. The development covenants and design guidelines for the River Falls Industrial Park can be found on the City’s website. This property is privately owned and the City will facilitate purchase and transfer through the tax increment district.
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Whitetail Ridge Corporate Park Highland Drive and Whitetail Boulevard The development covenants and design guidelines for the Whitetail Ridge Corporate Park can be found on the City’s website. The Park is located off of State Highway 35 at the Radio Road Interchange and is accessible by paved public right of way. Whitetail Ridge is home to approximately one dozen businesses and an estimated 400 employees, with a day care provider just feet away in the Park.
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Sterling Ponds Corporate Park Casey Street and Sutherland Avenue The City of River Falls has completed Phase 1 construction of the new Sterling Ponds Corporate Park between the recently opened Radio Road Interchange and the existing Sterling Ponds Subdivision. The new Corporate Park is paved and is accessible by public right-of-way from Radio Road Interchange off of STH 35. A draft of the development covenant and design guidelines for the Sterling Ponds Corporate Park can be found on the City’s website.
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Emerging Opportunities Site The City has identified a fourth corporate park development area and purchased 325 acres directly south of the University of Wisconsin-River Falls’ Laboratory Farm. This opportunities site is bounded by County Highway MM to the north, County Highway M to the south, and lies just at the western edge of the currently developed City. Although this site is not “shovel ready,” the City will discuss identifying building sites with interested companies for whom it makes mutual sense to do so. One such category of companies is those with a strong connection to the University farm’s research or agriculture products and services in general.
Currently, the site lacks water and wastewater infrastructure, but does have the capability for electric service. The City has identified the location and cost of these improvements so it can move quickly should the right opportunity arise. In 2015, the City and St. Croix County are partnering to improve the current Radio Road from the Interchange south to County Highway MM. It will be reconstructed as part of County Highway U. County Highway U will then stretch from CTH MM to the Interstate 94.
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Connecting Businesses The largest public infrastructure project in recent years with the greatest potential to support the local economy was the construction of the Radio Road Interchange in 2014. The new Interchange provides access from State Highway 35 to the Sterling Ponds Corporate Park, the University of Wisconsin-River Falls Lab Farm, and the Whitetail Ridge Corporate Park. The premier location of these corporate and public facilities allows businesses in River Falls to easily connect with the regional business community and their customers. Businesses that locate in the Sterling Ponds Corporate Park will have excellent visibility and access from a major state highway. The City’s investment of $4.5 million in the interchange is an example of the City’s priority to being a business-friendly location. It also highlights the City’s excellent track record of partnering with state and local agencies on behalf of the community.
Photo: A view of the Radio Rd Interchange facing southwest, with the University of Wisconsin-River Falls Lab Farm at the top and the Sterling Ponds Corporate Park in the foreground.
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Local Business Leaders It may be helpful for you to have direct access to local business leaders in order to ask questions about the business and labor environment in River Falls. Mr. Cernohous and Mr. Metcalf have expressed their interest in answering questions that you might have about doing business in River Falls. Feel free to contact them should any questions arise.
Jeff Cernohous is the founder and current Chairman and CTO of Interfacial Solutions, a contract materials development company located in Whitetail Ridge Corporate Park. In 2006, Interfacial Solutions was named the St. Croix County Emerging Business of the Year and in 2010 earned the distinction of being a “Wisconsin Company to Watch” by the Wisconsin Entrepreneuers Network. Interfacial Solutions was also named to the 2010 Inc. 500 at #304. In 2014, Interfacial Solutions was sold to Stratasys Corporation. The River Falls location is now home to the Stratasys World Materials Development Center.
Steve Metcalf is President and CEO of Air Motion Systems, a UV systems producer currently located in Whitetail Ridge Corporate Park. Under Metcalf’s leadership, Air Motion Systems became one of the first traditional UV systems producers to utilize LED UV technology. Air Motion Systems holds numerous patents on LED UV technology, including its award-winning Peak LED UV XP Series system.
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Loan Programs Available Revolving Loan Fund The Revolving Loan Fund (RFL) from the Regional Business Fund, Inc. is a flexible source of loan funds for commercial and industrial projects. The purpose of the loan is to encourage the creation of quality jobs and to increase the tax base. Loan sizes start at $25,000 with a four percent fixed interest rate. Deferrals of principal and interest or principal payments may be allowed and repayment terms can be up to five years for working capital, seven to ten years for machinery and equipment, and ten years for real estate. Collateral is required and unlimited personal guarantees are required for any owner with greater than 20 percent ownership interest in the business. In order to be eligible for the RFL, the development must take place in St. Croix County, must create and/or retain jobs, and demonstrate the ability to repay the loan. Eligible activities include: acquisition of equipment, machinery furniture and fixtures, new working capital, site improvements, land and building acquisition, new building construction or building renovation. River Falls Municipal Utilities New Construction Program The New Construction Program works with prospective developers and companies to deliver high performance buildings that provide improved energy efficiency, peak load reduction, improved systems performance, and greater comfort. The program seeks to capture synergistic energy savings by encouraging the design and construction of buildings as integrated systems. Wisconsin Manufacturing and Agriculture Credit The Manufacturing and Agriculture Tax Credit is available to businesses engaged in manufacturing and agricultural activities. The tax credit is available for income derived from manufacturing or agricultural property located in Wisconsin and will offset a significant share of Wisconsin income taxes. The credit is a percentage of “eligible qualified production activities income.”
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New Facility Financing Options Direct Support through Tax Incremental Financing One key way the City of River Falls provides investment in new companies is through Tax Incremental Financing. The City has developed three corporate parks. Each park contains desirable lots for business expansion. Typically, investment by the private firm in a new facility results in the City providing the land to the project as an incentive. Qualified projects gain instant equity based on the market value of the land that is often used to obtain other funding for the construction of the building. This often makes reasonable and affordable building financing available through private lenders who utilize US Small Business Administration (SBA) funding for 30-year fixed rate construction financing with rates as low as 4.5 percent. Often, owners or partners of the firm occupying the building create a real estate holding company and lease the building back to the operating corporation or partnership. Contact: Scot Simpson, 715-426-3402, [email protected]
Build-to-Suit, Lease-to-Own River Falls Economic Development Corporation (RFEDC) has completed several partnerships where it constructed a new, custom built building for a new corporate business in River Falls. The corporation constructs and finances the building, provides an initial lease with guaranteed purchase option for the tenant. To date, this arrangement has resulted in four successful facilities. All buildings have been sold to private parties. The RFEDC is currently seeking partners for additional buildings. Your company may be a good fit for this type of partnership. It allows the business to retain capital in the first few years and control its location and purchase option through the initial period like a leased building with the control and customization of construction as if it were the owner. Contact: Scot Simpson, 715-426-3402, [email protected]
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River Falls Municipal Utilities Utility services are provided by River Falls Municipal Utilities (RFMU). Our locally-owned utility enables the City to provide a hands-on approach to providing reliable and cost effective energy options. RFMU’s energy service representative works with businesses in the community to provide individualized assistance and a menu of energy options for a variety of business and economic development needs. River Falls Municipal Utilities prides itself on providing businesses with energy efficient options. Starting in 2015, one such option is the New Construction Economic Development Grant that RFMU works with businesses to obtain. This grant provides $5,000 per project and free construction design assistance. Examples of past uses of the grant funding include upgrading to a higher efficiency HVAC system and installing premium motors. Providing green energy is another priority for RMFU. Utility customers have opportunities to purchase blocks of green energy from the Utility. Currently, RFMU ranks fifth nationally in green energy sales as a percentage of total retail electricity sales. RFMU staff is eager to collaborate with businesses in River Falls to provide energy tailored to their needs. The City of River Falls is participating in community solar pilot program through WPPI Energy. Businesses can benefit by purchasing a share of the total energy production and receive a credit on their monthly electric bills. For frequently asked questions (FAQs) and the Community Solar Interest Form visit www.rfmu.org/CommunitySolar. Another benefit of a locally-owned utility is the reliability of its services. RFMU conducts its own testing of the electric and water supply to ensure uninterrupted services. Power to the northern corporate parks is fed by the City’s newest substation and additional investments of $350,000 will ensure continued reliability of the power supply in River Falls. The City is committed to providing the uninterrupted power supply that is critical to your operations.
“River Falls does the best job when it comes to giving us incentives and giving us programs that we can use to better our business. I just didn’t get that anywhere else I was.”
Curt McCall Minnesota Rubber & Plastics
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Why Wisconsin? The Wisconsin Economic Development Corporation (WEDC) is statutorily designated as Wisconsin's lead economic development agency. Several programs are available to communities and businesses in support of economic development activities that result in capital investment and job creation. WEDC provides many programs to help businesses fulfill their growth plans. Options may include bonding authority, capital finance, grants, or tax credits. To help navigate the options, WEDC's Regional Account Managers (RAMs) provide personalized support for the specific needs of your business as well as coordinating resources from various partner organizations as needed. Marie Steenlage is WEDC's RAM for west central and northwest Wisconsin and can be reached at (608) 210-6755. A Commitment to Quality A strong dedication to quality and a long history of economic stability sets Wisconsin apart as an excellent place to live and do business. Wisconsin many assets include:
• A diverse and well-developed economy • A skilled, adaptable and dependable workforce • A highly developed infrastructure • An education system among the best in the country • Strong and growing individual companies • An exceptional quality of life • Abundant, well-managed natural resources • Excellent ground, rail and air transportation • Commitment to new business
Business Climate
• Wisconsin is the 14th best state for business in 2014 (Chief Executive) • Wisconsin ranked 17th on CNBC’s America’s Top States for Business in 2012 (CNBC) • Wisconsin is among the Top 15 states in industrial production (Bureau of Labor
Statistics) • Wisconsin ranks as the 6th smartest state, the 10th safest state, and the 11th most-livable
state (Morgan Quitno Press) • Wisconsin ranks 3rd nationally in percent of total jobs that in manufacturing (Bureau of
Labor Statistics)
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• Wisconsin’s homeowner insurance rates are the lowest in the U.S. and its auto insurance rates are 5th lowest (National Insurance Carriers)
• Wisconsin’s hospital patient care costs are 20 percent below the national average (Wisconsin Health and Hospital Association)
• Wisconsin has the nation’s 10th shortest travel time to work with an average of 20.3 minutes (Census Bureau)
• Ranked 14th as being one of the most livable states (InfoPlease.com) Business Advantages Wisconsin is experiencing an economic renaissance. A more competitive Wisconsin exists compared to decades ago.
• Wisconsin’s business taxes are among the lowest in the country, due to property tax exemptions for manufacturing machinery and equipment, computers and computer equipment, inventories and pollution control equipment
• Wisconsin provides tax credits for energy used in manufacturing and R&D expenditures • Wisconsin has a single-sales-factor tax treatment and a 60 percent capital gains exclusion; no
unitary tax on foreign-owned corporation; no inheritance and gift taxes • Wisconsin’s worker’s compensation rates for most industries consistently rank among the
lowest in the U.S. • Wisconsin electric rates are among the lowest in the U.S.; commercial and industrial water
and sewer rates are among the lowest, too • A Customized Labor Training Fund and more than 500 technical outreach training locations
assist companies in their specific training needs • Wisconsin’s technical college system offers more than 800 degree programs and serves one
out of every eight adults – twice the national average • Wisconsin is among the Top 15 states in industrial production • In addition to its business advantages, Wisconsin enjoys close proximity to the major
markets of the U.S. and Canada. That means freight cost savings for distribution companies and just-in-time production firms. Within 500 miles of Wisconsin (one day’s shipping) are: • 33% of the nations’ population • 31% of all U.S. manufacturing • 30% of all U.S. business operations
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Why St. Croix Valley Region? St. Croix County ranks among Wisconsin’s most dynamic counties. Historically, St. Croix is the state’s leader in population growth (by percentage increase). St. Croix is the only Wisconsin county included in the Census Bureau’s 2000-2010 ranking of the 100 Fastest Growing Counties in the United States. St. Croix and Pierce Counties in Wisconsin are combined with 11 counties in Minnesota to form the 16-county Minneapolis-St. Paul MN-WI Metropolitan Statistical Area (MSA). Interstate 94 is a major factor in shaping the landscape in St. Croix. It gives residents and businesses an easy connection to Minneapolis-St. Paul and other markets like Madison and Chicago. Communities in St. Croix offer a ‘Home Town’ feel to residents and businesses. The main street areas include unique shopping opportunities, a financial district, and ongoing upgrades to historic structures. Some communities in St. Croix have been named ‘Dream Towns’ by a national magazine based on criteria like arts, healthcare, housing, and quality of life.
Pierce County’s location and logistics provide businesses with multiple transportation routes. The Red Wing Regional Airport with a 5,010 foot runway, fuel service and FBO operations located in southern Pierce County is a convenient option for executive aircraft. Interstate 94 is just north of Pierce County for easy highway access to the Twin Cities, Chicago, Kansas City, and the rest of the country. A Mississippi River terminal across from Pierce County provides commodity businesses with river barrage transportation.
