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3.8 EDSR 01-14-2013 ilk REQUEST FOR ACTION River To ITEM NUMBER Economic Development Authority 3.8 AGENDA SECTION MEETING DATE PREPARED BY January 14, 2013 Annie Deckert, Director of Economic Development ITEM DESCRIPTION REVIEWED By Approve 2013-16 Economic Development Strategic Plan Suzanne Fischer, Community Operations and Development Director REVIEWED BY ACTION REQUESTED Approve 2013-2016 EDA and HRA Strategic Plan. BACKGROUND/DISCUSSION At the December 3 meeting, staff presented the proposed 2013-16 Economic Development Strategic Plan to the HRA and sought feedback. The HRA made the following comments and suggestions: • Explore enhancing the Transportation goal to include pedestrian and bicycle traffic. Commissioners indicated this was important to address, however the EDA/HRA Strategic Plan may not be the appropriate place to address this issue. • Modify Industrial Development goal to Business Development and include two sets of strategies: 1) Industrial Development Strategies, and 2) Commercial Strategies. o In Commercial Strategies,include "enhance commercial district through business recruitment." • Include Restaurant Marketing somewhere in the strategic plan (strategies or detailed action steps). The same plan (including HRA comments) was presented at the December 10 EDA meeting; the EDA provided no additional comments. The attached plan depicts changes to reflect the comments of the HRA, and includes additional details to utilize Energy City as an economic development tool. Additionally, discussions with both the Engineering and Parks &Recreation Departments indicate multi-modal transportation planning action steps and improvements are currently being assessed and will be included in the update of the city's Transportation Plan (anticipated to be updated in 2014). With additional comments, staff proposes the following 2013-2016 priority objectives and strategies: • Business Development-Attract new businesses and support existing businesses to increase the city's industrial tax base, commercial base and employment base. P / IEIEI 11 NATURE • Redevelopment&Rehabilitation -Undertake strategies that facilitate rehabilitation and redevelopment of aging commercial,industrial and residential areas to ensure private reinvestment and sustainability. • Community Brand_.- Utilize community brand strategies to effect necessary change to strengthen and enhance community image • Transportation -Advocate and support proactive planning for improvements to the local and area transportation system in a way that will support existing businesses and complement new economic growth. Upon approval by both the HRA and EDA, staff will update the city's website and distribute plan to various staff, stakeholders and community members. The HRA approved this plan at their January 7 meeting. FINANCIAL IMPACT None. ATTACHMENTS • 2013-2016 Economic Development Strategic Plan PowerPoint Presentation (final copy) • 2013-2016 Economic Development Strategic Plan (2009-12 Plan with track changes, reflecting HRA comments) • 2013-16 Economic Development Strategic Plan with action steps (final copy) N:\Departments\Community Development\Economic Development\Strategic Plan\2(113-2016 Plan\1-14-13 Approve 2013-2016 ED Strategic Plan.docx 01/04/2013 Mission Statemen `. Iti�cr , ivCr The City of Elk River is committed to economic development by leveraging viable and healthy 2013-2016 ;" investments, to retain and create diverse job opportunities, maintain a favorable tax rate, supply Economic Development life-cycle housing options, and foster an Strategic Plan environment that will result in substantial growth of our local economy. RilVf • September 2012- EDA authorized staff to utilize existing 'Identifies priority areas for EDA,HRA and City Council and staff plan findings, recommendations and goals to create "May 1997-Original Strategic Plan 2013-2016 Economic Development Strategic Plan 'November 1999-Strategic Plan modified -Existing goals in 2009-2012 plan are still .Mid 2004-Strategic Plan modified relevant and ongoing "Mid 2004-City Council authorized an update of the Comprehensive Plan • Staff is seeking input on the 2013-2016 plan 'April 2009-April Joint work session facilitated by Kent Eklund of • Detailed tasks outlined in staff report Cincinnatus,Inc.resulting in 2009-2012 Strategic Plan • HRA reviewed at their December 3 meeting -Comments will be incorporated and final plan will be •Mid 2009-Approved by HRA and EDA brought back at a future meeting "April 2010-Two day visioning seminar facilitated by Jermaine Davis resulting in City-wide vision and four supporting goals 'October 2010-Approved by City Council 1 01/04/2013 I. Priority Issues 201 1e_ 2016 . _ „ . (ti,i.�.. •June 2010-1710°FAST Study illustrating likely development of the r,c r s area adopted by City Council •July 2011-Citizen Satisfaction Survey completed _ .f Business Development •September 2011-completion of branding process resulting in -Industrial community brand and brand implementation plan —Commercial •September 2011-Approved by EDA and City Council • Rehabilitation and Redevelopment •February 2012—Energy City completed SWOT analysis —Commercial/Industrial .September 2012—Comprehensive Housing Market Analysis — Residential presented to City Council and HRA • Community Brand •December 2012-Mississippi Connections Redevelopment • Transportation Framework approved by task force,HRA and City Council Business Development ', I. Business evelopment T ■ suppr>rtexgei ..: I'rr �.. con 'Cl rr businesses to increase the city's industrial tax base,commercial base and employment base. r ” " " `" • Promote available sites,encourage business retention and expansion to grow existing commercial base with business INDUSTRIAL STRATEGIES recruitment/attraction techniques. • Promote available sites,encourage business retention and expansion to • Diversify economic base to include a wide variety of retail and grow existing commercial base with business recruitment/attraction service industries,as well as additional fine dining opportunities techniques. • Review existing programs,resources,and services and recommend • Diversify economic base to include professional services,corporate improvements to increase our competitive advantage and support campuses,energy-related companies,and technology businesses goals • Review existing programs,resources,and services and recommend • Explore creative economic development collaborations improvements to increase our competitive advantage and support goals • Enhance commercial district through business recruitment activities • Explore creative economic development collaborations = Utilize Energy City and its tools to recruit new and ,,- i assist existing businesses IJ i 2 01/04/2013 ffi M '.II. Rehabilitation an ` II. Rehabilitation and Elk ,Livrr • s • • "� ent cont'd ,� „vr Undertake strategies that facilitate rehabilitation and RESIDENTIAL STRATEGI 4> redevelopment of aging commercial, • Maintain listing of vacant/foredosed properties industrial and residential areas to ensure private • Utilize Comprehensive Housing Market Study recommendations to reinvestment and sustainability. address housing gaps • Proactively review neighborhoods annually to ensure all home are COMMERCIAL AND INDUSTRIAL STRATEGIES properly maintained through the code enforcement process • Maintain listing of available commercial/industrial sites • Seek out and promote available programs to improve existing • Promote available sites through various marketing initiatives housing stock and incentivize homeownership Identify and examine potential areas for revitalization • Research the potential to create internal program(s)to improve • existing housing stock and incentivize homeownership • Review existing programs,resources,and services and recommend Provide educational opportunities regarding foreclosure prevention • improvements to increase competitive advantage and support goals and housing assistance programs • Enhance downtown commercial district through business recruitment and people generating activities Ty .. n. orris un ra V. Transportatio • Elk ivcr Advocate and support planning for i' Utilize community brand strategies to effect pPo per°Pf 9 necessary changes to strengthen and improvements to the local and area transportation enhance community image system in a way that will support existing businesses and complement new economic growth. STRATEGIES • Continue to implement and enhance marketing plan that reflects the STRATEGIES Powered by Nature brand,identifies desired target market(s),and • Advocate regional&local transportation improvements complements other local efforts to promote the community • Encourage transportation improvements as part of internally and externally redevelopment/development opportunities • Maintain existing and build new community support for the Powered • Support efforts to leverage local funds with state/federal resources by Nature brand • Establish benchmarks for performance measurement 01/04/2013 40/i Cit. of Elk --.� River 4 BUSINESS DEVELOPMENT Attract new businesses and support existing businesses to increase the city's industrial tax base, commercial-tax base,base and employment base. INDUSTRIAL STRATEGIES D Promote available sites, encourage business retention and expansion to grow existing light industrial base with business recruitment/attraction techniques D Diversify economic base to include professional services, corporate campuses, energy- related companies, and technology businesses • Review existing programs, resources, and services and recommend improvements to increase competitive advantage and support goals D Explore creative economic development collaborations D Utilize Energy City and its tools to recruit new and assist existing businesses COMMERCIAL STRATEGIES ➢ Promote available sites, encourage business retention and expansion to grow existing commercial base with business recruitment/attraction techniques ➢ Diversify economic base to include a wide variety of retail and service industries, as well as additional fine dining opportunities D Review existing programs, resources, and services and recommend improvements to increase competitive advantage and support goals ➢ Explore creative economic development collaborations D Enhance commercial district through business recruitment and activities ACTION STEPS • Complete minimum of one BRE visit a month (manufacturers and top employers) and distribute Business Finance Toolkit,Available Sites, Community Profile, Energy City Brochure, Business Recycling Toolkit and other pertinent information. • Promote available sites through exhibits at various expos (minimum 2x/yr.) • Utilize 1715` FAST implementation plan to create a marketing piece for Nature's Edge Business Center and an annual redevelopment action plan to monitor progress of implementation • Partner with ERMU to identify applicable rebates for available city-owned property • Promote applicable incentives through direct mailings (minimum 3x/yr.) • Promote Elk River to the restaurant industry through website (www.elkrivermn.gov/restaurants), direct mailings, Constant Contact email blasts and other marketing venues • Partner with Elk River Area Chamber of Commerce to coordinate Chamber goals with economic development goals through various implementation tasks • Utilizing economic development publications make contact with businesses looking to expand, relocate, etc. • Review Micro Loan Program and recommend improvements to increase competitive advantage and support goals • Partner with ECC and ERMU to explore a joint incentive to attract energy-related technology businesses • Partner with local schools and manufacturers to hold quarterly meetings to encourage students to explore a career in manufacturing through plant tours, youth apprenticeship programs, energy city tours and programs, and job shadowing • Launch a powerful website for the Elk River Economic Development Department • Demonstrate support for existing manufacturers and raise awareness regarding their impact on the community through various promotional activities and tours during Minnesota Manufacturers Week • Identify target industries (e.g. data centers, energy-related companies,fine dining establishments, etc.) and create specific marketing pieces to identify advantages and programs to assist in business recruitment • Host quarterly Manufacturers' Connection events with local manufacturers to promote financial incentives, resources and relevant topics to promote business retention and appreciation • Build a targeted industry and trade media databases and send press releases 6x per year. • Produce an energy conservation best-practices brochure to provide to businesses • Coordinate with Energy City to plan and market energy city events e.g. Energy City Business of the Year • Partner with Energy City and the Streets Department to promote proper disposal of Fats,Oils and Grease through videos,flyers, emails,social media, and other media REHABILITATION AND REDEVELOPMENT Undertake strategies that facilitate rehabilitation and redevelopment of aging commercial, industrial and residential areas to ensure private reinvestment and sustainability. COMMERICAL/INDUSTRIAL STRATEGIES y Maintain a listing of available commercial/industrial sites Promote available sites through various marketing initiatives r Identify and examine potential areas for revitalization Review existing programs, resources, and services and recommend improvement increase our competitive advantage and support s to pport goals Enhance downtown commercial district through business recruitment and people- generating activities p peo ACTION STEPS • Update windshield survey quarterly and post on website • Feature available property in quarterly'Energized by Development' electronic newsletter • Promote www.elkriversites.com on billboard ix r. • Partner with downtown business association and civic groups to promote existing and downtown activities • Partner with Elk River Area Arts Alliance to explore funding concepts for g d explore the downtown study area an arts center within • Create and distribute a survey to businesses to identify recommended improvements to programs, resources and services, in addition to identifying preferred methods of communication to improve Elk River business climate fY existing • Identify current property owners' and businesses'interest in redevelopment efforts both south of HWY 10 and in 171ST Focused Area Study area • Create a redevelopment policy regarding capitalizing the HRA develo men h north parameters for purchasing parcels develop mend fund and identify • Create and distribute comprehensive business directory to promote downtown Elk River • Partner with the Elk River Area Chamber of Commerce to hold annual event to promote economic development resources and incentives (Juice Up Your Morning, Chamber luncheon, Money Breakfast, etc.) • Create a short video promoting available sites and applicable initiatives to distribute thro ugh social media outlets, constant contact and website RESIDENTIAL STRATEGIES ➢ Maintain listing of vacant/foreclosed properties • Address housing gaps with Comprehensive Housing Market Study recommendations ✓ Proactively review neighborhoods annually to ensure all home are properly maintained through the code enforcement process • Seek and promote available programs to improve existing housing stock and incentivize homeownership • Provide educational opportunities regarding foreclosure prevention and housing assistance programs ACTION STEPS • Continue to work with applicable departments and entities to maintain internal foreclosure tracking spreadsheet • Distribute MN Home Ownership Center foreclosure prevention, Energy City conservation brochure,-and Elk River Housing Toolkit information to local lenders, realtors, churches, non- profits, builders, etc. (minimum 4x/yr.) • Partner with staff to devise a neighborhood inspection plan to ensure all homes are properly maintained through the code enforcement process • Utilize housing intern to research programs available to Elk River residents to improve existing housing stock and incentivize homeownership • Partner with North Metro Realtors Association to explore the creation of in house housing programs (down payment assistance, housing rehab, etc.) • Partner with applicable non-profits (MNHOC,Tri-CAP, etc.)to hold educational events to promote foreclosure prevention and housing programs (minimum 2x/yr.) • Identify a partner housing organization to fund and support a selective housing removal and rebuilding program • Host an annual Realtors' Day to educate realtors about the programs, processes and amenities offered by the city COMMUNITY BRAND Utilize community brand strategies to effect necessary changes to strengthen and enhance community image STRATEGIES > Continue to implement and enhance marketing plan that reflects the Powered by Nature brand, identifies desired target market(s),and complements other local efforts to promote the community internally and externally ➢ Maintain existing and build new community support for the Powered by Nature brand > Establish benchmarks for performance measurement ACTION STEPS • Work with area businesses and civic organizations to incorporate brand into their marketing strategies through presentations(minimum 6x/yr.) • Create PbN logos for area businesses and civic organizations (minimum 6x/yr.) • Meet with each city department to ensure all documents(staff reports,applications, business cards, presentations, letterhead,etc.)adhere to brand guidelines as outlined on SharePoint • Maintain poweredbynature.blog.com site (minimum 3x/wk.) • Distribute window clings and larger windows signs of the logo • Distribute brochures explaining the brand to residents to municipal liquor stores,Guardian Angels, Pullman Place,Sherburne County, local banks,Chamber of Commerce, local hotels, etc. • Utilize community brand throughout the new Economic Development and citywide website • Promote the brand, engage residents,and distribute materials at expos(3x per year)and at events such as Realtors' Day, Leadership Elk River, and Manufacturers Connection • Create profiles on first-tier business owners in Synchronist—a tracking software used to record information on local businesses and visits • Launch an online marketing campaign through pay-per-click and keyword advertising • Benchmark the impact of the Powered by Nature brand with data from Google Analytics and a search engine optimization analysis. TRANSPORTATION Advocate and support proactive planning for improvements to the local and area transportation system in a way that will support existing businesses and complement new economic growth. STRATEGIES > Advocate regional and local transportation improvements ➢ Encourage transportation improvements as part of redevelopment/development opportunities ➢ Support efforts to leverage local funds with state/federal resources ACTION STEPS(submitted by City Engineer) • Increase contact with legislators for state highway transportation improvements • Complete low cost/high benefit enhancements to improve traffic flow through the existing street intersections • Advocate for the continued use and expansion of Northstar commuter rail service. • Continue implementation of transportation improvements as detailed in the 171st Focused Area Study • Assure all proposed development improvements are consistent with our local and regional transportation plans. • Leverage State and Federal investment for mobility improvements to TH 169 and TH 10 with the already spent local dollars for the planning of improvements to these sections. • Evaluate all available grant opportunities to determine if the local matching amounts are a cost effective and feasible solution to support our objectives and strategies. BUSINESS DEVELOPMENT Attract new businesses and support existing businesses to increase the city's industrial tax base, commercial tax base and employment base. INDUSTRIAL STRATEGIES ➢ Promote available sites,encourage business retention and expansion to grow existing light industrial base with business recruitment/attraction techniques ➢ Diversify economic base to include professional services, corporate campuses,energy- related companies, and technology businesses ➢ Review existing programs, resources, and services and recommend improvements to increase competitive advantage and support goals > Explore creative economic development collaborations ➢ Utilize Energy City and its tools to recruit new and assist existing businesses COMMERCIAL STRATEGIES ➢ Promote available sites,encourage business retention and expansion to grow existing commercial base with business recruitment/attraction techniques ➢ Diversify economic base to include a wide variety of retail and service industries,as well as additional fine dining opportunities ➢ Review existing programs, resources, and services and recommend improvements to increase competitive advantage and support goals > Explore creative economic development collaborations ➢ Enhance commercial district through business recruitment and activities ACTION STEPS • Complete minimum of one BRE visit a month (manufacturers and top employers) and distribute Business Finance Toolkit,Available Sites, Community Profile, Energy City Brochure, Business Recycling Toolkit and other pertinent information. • Promote available sites through exhibits at various expos (minimum 2x/yr.) • Utilize 1715`FAST implementation plan to create a marketing piece for Nature's Edge Business Center and an annual redevelopment action plan to monitor progress of implementation • Partner with ERMU to identify applicable rebates for available city-owned property • Promote applicable incentives through direct mailings(minimum 3x/yr.) • Promote Elk River to the restaurant industry through website (www.elkrivermn.gov/restaurants), direct mailings,Constant Contact email blasts and other marketing venues • Partner with Elk River Area Chamber of Commerce to coordinate Chamber goals with economic development goals through various implementation tasks • Utilizing economic development publications make contact with businesses looking to expand, relocate,etc. • Review Micro Loan Program and recommend improvements to increase competitive advantage and support goals • Partner with ECC and ERMU to explore a joint incentive to attract energy-related technology businesses • Partner with local schools and manufacturers to hold quarterly meetings to encourage students to explore a career in manufacturing through plant tours,youth apprenticeship programs, energy city tours and programs,and job shadowing • Launch a powerful website for the Elk River Economic Development Department • Demonstrate support for existing manufacturers and raise awareness regarding their impact on the community through various promotional activities and tours during Minnesota Manufacturers Week • Identify target industries (e.g. data centers,energy-related companies,fine dining establishments,etc.)and create specific marketing pieces to identify advantages and programs to assist in business recruitment • Host quarterly Manufacturers' Connection events with local manufacturers to promote financial incentives, resources and relevant topics to promote business retention and appreciation • Build a targeted industry and trade media databases and send press releases 6x per year. • Produce an energy conservation best-practices brochure to provide to businesses • Coordinate with Energy City to plan and market energy city events e.g. Energy City Business of the Year • Partner with Energy City and the Streets Department to promote proper disposal of Fats,Oils and Grease through videos,flyers, emails,social media, and other media REHABILITATION AND REDEVELOPMENT Undertake strategies that facilitate rehabilitation and redevelopment of aging commercial, industrial and residential areas to ensure private reinvestment and sustainability. COMMERICAL/INDUSTRIAL STRATEGIES ➢ Maintain a listing of available commercial/industrial sites • Promote available sites through various marketing initiatives ➢ Identify and examine potential areas for revitalization ➢ Review existing programs, resources, and services and recommend improvements to increase our competitive advantage and support goals ➢ Enhance downtown commercial district through business recruitment and people- generating activities ACTION STEPS • Update windshield survey quarterly and post on website • Feature available property in quarterly'Energized by Development' electronic newsletter • Promote www.elkriversites.com on billboard 1x/yr. (changed quarterly) • Partner with downtown business association and civic groups to promote existing and explore new downtown activities • Partner with Elk River Area Arts Alliance to explore funding concepts for an arts center within the downtown study area • Create and distribute a survey to businesses to identify recommended improvements to existing programs, resources and services, in addition to identifying preferred methods of communication to improve Elk River business climate • Identify current property owners'and businesses' interest in redevelopment efforts both north and south of HWY 10 and in 171St Focused Area Study area • Create a redevelopment policy regarding capitalizing the HRA development fund and identify parameters for purchasing parcels • Create and distribute comprehensive business directory to promote downtown Elk River • Partner with the Elk River Area Chamber of Commerce to hold annual event to promote economic development resources and incentives(Juice Up Your Morning,Chamber luncheon, Money Breakfast,etc.) • Create a short video promoting available sites and applicable initiatives to distribute through social media outlets,constant contact and website RESIDENTIAL STRATEGIES ➢ Maintain listing of vacant/foreclosed properties D Address housing gaps with Comprehensive Housing Market Study recommendations ➢ Proactively review neighborhoods annually to ensure all home are properly maintained through the code enforcement process ➢ Seek and promote available programs to improve existing housing stock and incentivize homeownership ➢ Provide educational opportunities regarding foreclosure prevention and housing assistance programs ACTION STEPS • Continue to work with applicable departments and entities to maintain internal foreclosure tracking spreadsheet • Distribute MN Home Ownership Center foreclosure prevention, Energy City conservation brochure,and Elk River Housing Toolkit information to local lenders, realtors,churches, non- profits, builders,etc. (minimum 4x/yr.) • Partner with staff to devise a neighborhood inspection plan to ensure all homes are properly maintained through the code enforcement process • Utilize housing intern to research programs available to Elk River residents to improve existing housing stock and incentivize homeownership • Partner with North Metro Realtors Association to explore the creation of in house housing programs(down payment assistance,housing rehab, etc.) • Partner with applicable non-profits(MNHOC,Tri-CAP,etc.)to hold educational events to promote foreclosure prevention and housing programs(minimum 2x/yr.) • Identify a partner housing organization to fund and support a selective housing removal and rebuilding program • Host an annual Realtors'Day to educate realtors about the programs, processes and amenities offered by the city COMMUNITY BRAND Utilize community brand strategies to effect necessary changes to strengthen and enhance community image STRATEGIES ➢ Continue to implement and enhance marketing plan that reflects the Powered by Nature brand, identifies desired target market(s),and complements other local efforts to promote the community internally and externally ➢ Maintain existing and build new community support for the Powered by Nature brand ➢ Establish benchmarks for performance measurement ACTION STEPS • Work with area businesses and civic organizations to incorporate brand into their marketing strategies through presentations (minimum 6x/yr.) • Create PbN logos for area businesses and civic organizations(minimum 6x/yr.) • Meet with each city department to ensure all documents(staff reports,applications, business cards, presentations, letterhead,etc.) adhere to brand guidelines as outlined on SharePoint • Maintain poweredbynature.blog.com site (minimum 3x/wk.) • Distribute window clings and larger windows signs of the logo • Distribute brochures explaining the brand to residents to municipal liquor stores,Guardian Angels, Pullman Place,Sherburne County, local banks,Chamber of Commerce, local hotels, etc. • Utilize community brand throughout the new Economic Development and citywide website • Promote the brand, engage residents, and distribute materials at expos (3x per year)and at events such as Realtors' Day, Leadership Elk River,and Manufacturers Connection • Create profiles on first-tier business owners in Synchronist—a tracking software used to record information on local businesses and visits • Launch an online marketing campaign through pay-per-click and keyword advertising • Benchmark the impact of the Powered by Nature brand with data from Google Analytics and a search engine optimization analysis. TRANSPORTATION Advocate and support proactive planning for improvements to the local and area transportation system in a way that will support existing businesses and complement new economic growth. STRATEGIES ➢ Advocate regional and local transportation improvements ➢ Encourage transportation improvements as part of redevelopment/development opportunities ➢ Support efforts to leverage local funds with state/federal resources ACTION STEPS(submitted by City Engineer) • Increase contact with legislators for state highway transportation improvements • Complete low cost/high benefit enhancements to improve traffic flow through the existing street intersections • Advocate for the continued use and expansion of Northstar commuter rail service. • Continue implementation of transportation improvements as detailed in the 171St Focused Area Study • Assure all proposed development improvements are consistent with our local and regional transportation plans. • Leverage State and Federal investment for mobility improvements to TH 169 and TH 10 with the already spent local dollars for the planning of improvements to these sections. • Evaluate all available grant opportunities to determine if the local matching amounts are a cost effective and feasible solution to support our objectives and strategies.