8. EDSR 08-14-2006ITEM # 8.
MEMORANDUM
TO: Economic Development Authority
FROM: Catherine Mehelich, Director of Economic Development~i~/~
DATE: August 14, 2006
SUBJECT: Strategic Industrial Marketing Plan Update
Issue
At its June meeting the EDA approved the Marketing Committee's recommendation to
contract with Wolf Marketing & Media for the assessment and update of the EDA's
Strategic Industrial Marketing Plan.
Update
Following is a progress status report of completed tasks:
• Contacted all potentially competing communities and requested their economic
development marketing packet, and visited/evaluated their websites.
• Completed 11 interviews with clients, prospective clients, lost prospects, partners
and brokers.
• Completed focus group with 4 industrial brokers active in the northwest metro.
• Conducted extensive secondary research, including gathering data from MN Dept of
Employment & Economic Development, Economic Development Association of
MN, news articles, websites, etc.
• Met with EDA Marketing Committee to gain initial insights and feedback into their
perceptions of the City's level of success in economic development, and their current
goals and objectives.
Next steps
• Analyze and sun axize all the data, then review it with city staff and the EDA
Marketing Committee to firm up objectives for the Strategic Industrial Marketing
Plan update.
Staff anticipates a presentation of the completed plan at the September regular EDA
meeting.
S:\EDA\MARKETINGUlemos\2006\8.14.06 EDA update.doc