Civil Municipal - May 2024

North Mankato offers prospective businesses and developers.“Primarily, the Port Authority has utilized tax increment financing (TIF) as its main development tool,” he explains. This method of public financing subsidizes community improvement projects, effectively attracting and supporting qualified businesses and industries that meet specific criteria. Diving deeper into the infrastructure that supports these incentives, Fischer elaborates on the city’s readiness for growth.“In terms of infrastructure, we’re well positioned for current and future growth,” he states. North Mankato’s strategic planning has laid a detailed, long-term groundwork for its infrastructure systems. “We’ve planned out the future of our infrastructure system extensively. We know what it is today and what it will be in ten years.This includes the capacities we can handle and where major and minor roads will be built,” he adds, emphasizing the foresight that guides the city’s development initiatives. Regarding highway infrastructure, Fischer highlights recent upgrades that enhance the region’s connectivity.“Adjacent to North Mankato is Highway 14, a major four-lane highway in Minnesota. Recently, a portion of Highway 14 transitioned from a two- lane to a four-lane highway between North Mankato and the city of New Ulm,” he notes. This expansion improves local transportation and positively impacts the broader region, boosting accessibility and potentially stimulating economic activity. Fischer assures North Mankato is well prepared to address the increasing demand for high-speed internet, which many now consider an essential utility.“We have several local utility companies that are well equipped with fiber. When new housing, commercial, or industrial developments come to our community, they can be confident that they will have access to multiple choices of fiber and a reliable source,” he confirms. This applies equally to residential and commercial developments, ensuring that all city sectors are well-supported with critical digital infrastructure. STRATEGIC PARTNERSHIPS FUELING NORTH MANKATO’S GROWTH As North Mankato continues to expand and 66 CIVIL AND MUNICIPAL VOLUME 05, ISSUE 05