Appraisal of 11.25 acres - vacant land - 1055 wildhurst trail

Home Browse Search

BETTENDORF ROHRER KNOCHE WALL,INC. Metropolitan Area Description - Continued I ' The seven county metropolitan area encompasses 2,984.6 square miles in which are located 134 cities and 33 townships. Each of these municipalities are separate entities with their own form of government, economic structure, social and cultural activities and so forth. In each of the seven counties is a county board made up of elected officials which coordinate the activities of communities within the county. There is also a Metropolitan Council which oversees those facilities that extend beyond county boundaries and involve the entire metropolitan area, ' including public water, sanitary sewer, public transportation and metropolitan parks. The Metropolitan Council also coordinates and guides land use planning and development within the ' metropolitan area. The metropolitan area has a strong and diversified economic base. Many industries serving regional, national and international markets have their corporate headquarters here, including 3M Company, General Mills, Pillsbury, Cargill, Control Data, Land O'Lakes, and West ' Publishing. The unemployment rate for the metropolitan area (Jan., 1996) was 3.1% as compared with the national rate for the same time frame of 5.5%. The unemployment rate for the metropolitan area has consistently been two to three percentage points below the national ' average. ' One factor influencing the metropolitan area is its highway system. A series of interstate highways allows residents to share in the benefits of the metropolitan area. Interstate Highway 94 enters the eastern portion of the metropolitan area from the state of Wisconsin. The ' interstate travels westward, passing the downtown areas of St. Paul and Minneapolis, then turning northwestward and continuing through the state to the state of North Dakota. Interstate Highway 35 extends through the state in a north/south direction. As it enters the metropolitan area from the south, the interstate separates into I-35W which extends through Minneapolis, and I-35E which extends through St. Paul. At the opposite end of the metropolitan area, the ' interstate reconnects and continues north through the balance of the state to Duluth. Interstate Highway 694/494 forms a beltway surrounding the cities of Minneapolis and St. Paul together with the first tier suburbs. ' The interstate system, coupled with the network of major and minor highways, allows ' easy access through the entire metropolitan area. It is common for residents in one community to work in another portion of the metropolitan area. As a result, the impact of plant closings or layoffs, while hurting, fails to have a devastating impact upon the metropolitan area. Also, the ' economic base is diversified which enables stronger segments of the markets to offset the weaker ones. This situation is reflected in the low unemployment rate. ' 16