6.7 EDSR 01-21-2014 *tit. Request for Action
River
To Item Number
Economic Development Authority 6.7
Agenda Section Meeting Date Prepared by
General Business January 21, 2014 Brian Beeman,Director of Economic
Development
Item Description Reviewed by
Consideration of Staff Assignments Jeremy Barnhart,Deputy Director, CODD
Reviewed by
Action Requested
Confirm priorities
Background/Discussion
As per Economic Development Authority Bylaws,it is suggested that the EDA consider assigning staff
projects for the year. The City of Elk River utilizes the adopted City Council Vision and Goals, the
adopted Economic Development Strategic Plan, as well as the Mississippi Connections Plan and budget
performance measures to structure the annual work plan for projects. The EDA reviewed these goals and
performance measures during the 2014 EDA budget workshop and approved them August 19, 2013,
attached. Based on these documents, staff's priorities will be:
• Identify locations for data centers and market the sites
• Market highly desirable businesses to the downtown area
• Maintain website and online GIS property database to promote economic development
• Promote economic development incentive programs and available land
• Utilize DEED monies as often as appropriate
• Contact&network directly with real estate developers
Financial Impact
N/A
Attachments
• 2014 Adopted Budget Goals and Performance Measures
B r E i E 1 1 T
INAU?EI
Department Performance Measures & Goals for 2014
Department: EDA
Completed by: Brian Beeman
Date: 'August 19, 2013
Performance Measure 2012 Actual 2013 Estimated 2014 Projected
Conduct 12 BRE visits 14 12 12
Contact 6 businesses re:microloan 10 6
Contact at least 3 Data Center
Companies to try to recruit to Elk N/A 3
River
Ralphies Victory Lane:
$750,000 Alliance Machine:
Increase private corporate/industrial $2,000,000 Blue Egg Bakery:
investment by$3,000,000 p/yr $500,000 Preferred Powder $5,000,000
Coat:$7,000,000 Total:
$10,250,000
Create/retain at least 30 jobs with
wages at$15+/hr 30 jobs 30 jobs
EDAM,MREJ,MN Business; EDAM,MREJ,MN
Business Journal,
Journal,Finance&
Finance&Commerce,
Obtain positive publicity via at least Commerce,Star News, Star News,Intern
three significant newsletters each year Intern project project
Related Vision Statement Goal
Goal Objective(s) Resources Required Other Comments
Determine utility
City Vision Statement:Opportunities& Internal Staff capacities,private land
Identify locations for data centers: Stategic Plan:Business Development owners,available lots,
market zoning,etc.
Following HRA Market
Market highly desirable businesses to Mississippi Connections:Priority Project Marketing Funds$10,000 Needs Analysis to be
the Downtown area completed 2014
Maintain website and online GIS
property database to promote Strategic Plan:Business Development $7,000 Intern Project
Economic Development
Marketing priority
Promote economic development Strategic Plan:Business Development $7,500 increased intern
incentive programs and available land necessary
ID new DEED programs
Utilize DEED monies as often as and update Business
appropriate Strategic Plan:Business Development Finacial Toolkit
Brochure including 4th
Microloan
Strategic recruiting:
Attend tradeshows,
tours of city,dinners
Contact&network directly with City Vision Statement:Opportunities& Internal Staff with owners/developers,
realestate developers Strategic Plan:Business Development target data centers,
manufactuers,medical
device manufacuters,
etc.