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6.7 EDSR 01-19-2016 ti Request for Action River To Item Number Economic Development Authority 6.7 Agenda Section Meeting Date Prepared by General Business January 19,2016 Amanda Othoudt, EDD Item Description Reviewed by Consideration of Staff Assignments Cal Portner, City Administrator Reviewed by Action Requested Confirm priorities Background/Discussion The EDA Bylaws, as part of the Annual meeting, suggest 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. The EDA reviewed these goals and performance measures during the July 20,2015,budget workshop and approved them on August 17,2015. 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 • Assist in reducing the barriers for construction • Promote economic development incentive programs and available land • Utilize DEED monies as often as appropriate • Contact&network directly with real estate developers and target industry decision makers In addition to these published priorities, the EDA approved the strategic plan in the second quarter of 2015. Financial Impact N/A Attachments • 2016 Adopted Budget Goals and Performance Measures I NATURE EDA 2016 Goals Related Vision Statement Division Goal Goal/Objective Comments Pursue purchasing properties for Data City Vision Statement: Opportunities& EDA Determine utility capacities,work with private land Centers;then market sites for recruitment Strategic Plan: Business Development owners,available lots,zoning,etc.Work with County and other city departments to keep the Data Center resource packet current. Market retail,Tap Rooms,&other highly Mississippi Connections: Priority Project From Marketing Funds,create available property listing desirable businesses to the Downtown Area then actively recruit. Create a specific Tap Room brochure.(In process) Promote ED incentive programs and EDA Strategic Plan: Business Development Update brochures, Face Book,Twitter, Press Releases, available land Business&Trade Magazines,etc. Maximize&leverage DEED monies as often EDA Strategic Plan: Business Development Identify new DEED programs and update Business as appropriate Financial Toolkit Brochure. Maximize&Leverage Initiative Foundation EDA Strategic Plan: Business Development Identify new programs and update Business Financial moneis as often as appropriate Toolkit Brochure. Contact and network directly with real-estate City Vision Statement: Opportunities&EDA Strategic recruiting:Attend targeted industry(Data developers,and target industry decision Strategic Plan: Business Development Centers, Manufacturing, Energy, Medical Device makers Technology)tradeshows, identify the key decision makers, provide FAM tours of city, attend site selector conference,coordinate development meetings with City/County/State. Partner with Positively Minnesota and Sherbume County and ERMU. Obtain Shovel Ready Certification status on City Vision Statement: Opportunities& EDA $3250 for each DEED Certification site.Once certified, North Star,and newly identified Strategic Plan: Business Development DEED will promote our sites as they attend National& Business/Industrial Parks. International tradeshows&expos,&state website. Assist in reducing the barriers for FAST Study/Mississippi Connections Establish a wetland bank to facilitate new development construction where wetlands impede growth;shared responsibility with EDA/Planning/Environmental;fast track approval; remove redtape Encourage business growth within the EDA Strategic Plan: Business Development Conduct 24 BR&E Visits. Focusing on the larger commercial/industrial sector, by creating a manufacturing facilities sound business enviomment. Division Performance Measures & Goals for 2016 Division: Economic Development/EDA Completed by: Amanda Othoudt Date: July 16,2015 Performance Measure 2014 Actual 2015 Projected 2016 Projected Conduct 20 BR&E visits 7 12 24 Contact 6 businesses re:microloan 7 6 24 Contact at least 3 Data Centers to 3 3 5 attempt to recruit to Elk River Obtain positive publicity via at least 3 city newsletters each year 2 3 4 Advertise in at least 3 National Publications with at least 5000 subscribers 3 3 3 Advertise in at least 2 Global Publications with at least 5000 subscribers - 2 2 Personally connect with at least 150 new partners 150 150 250 Related Vision Statement Division Goal Goal/Objective Comments Pursue purchasing properties for City Vision Statement:Opportunities& EDA Determine utility capacities,work with private land owners,available lots,zoning,etc. Data Centers;then market sites for Strategic Plan:Business Development Work with County and other city departments to keep the Data Center resource recruitment packet current. Market retail,Tap Rooms,&other Mississippi Connections:Priority Project From Marketing Funds,create available property listing then actively recruit.Create a highly desirable businesses to the specific Tap Room brochure.(In process) Downtown Area Promote ED incentive programs and EDA Strategic Plan:Business Development Update brochures,Face Book,Twitter,Press Releases,Business&Trade available land Magazines,etc. Maximize&leverage DEED monies EDA Strategic Plan:Business Development Identify new DEED programs and update Business Financial Toolkit Brochure. as often as appropriate Maximize&Leverage Initiative EDA Strategic Plan:Business Development Identify new programs and update Business Financial Toolkit Brochure. Foundation moneis as often as appropriate Contact and network directly with City Vision Statement:Opportunities&EDA Strategic recruiting:Attend targeted industry(Data Centers,Manufacturing,Energy, real-estate developers,and target Strategic Plan:Business Development Medical Device Technology)tradeshows,identify the key decision makers,provide industry decision makers FAM tours of city,attend site selector conference,coordinate development meetings with City/County/State.Partner with Positively Minnesota and Sherbume County and ERMU. Obtain Shovel Ready Certification City Vision Statement:Opportunities& EDA $3250 for each DEED Certification site.Once certified,DEED will promote our sites status on North Star,and newly Strategic Plan:Business Development as they attend National&International tradeshows&expos,&state website. identified Business/Industrial Parks. Assist in reducing the barriers for FAST Study/Mississippi Connections Establish a wetland bank to facilitate new development where wetlands impede construction growth;shared responsibility with EDA/Planning/Environmental;fast track approval; remove redtape Encourage business growth within EDA Strategic Plan:Business Development Conduct 24 BR&E Visits.Focusing on the larger manufacturing facilities the commercial/industrial sector,by creating a sound business enviomment.