5.0. EDSR 09-12-2005 ITEM # 5.
City of
Elk
River
MEMORANDUM
TO: Economic Development Authority
Heidi Steinmetz, Assistant Director of Economic Development -1/6FROM: e
DATE: September 12, 2005
SUBJECT: Strategic Industrial Marketing Update
I. Product Offering Strategy
Northstar Business Park Update
There is a separate memo regarding this issue.
• I I. Competitive Strategy
There is no new information to report.
III. Key Account/Lead Generation Strategy
Staff has received three inquiries within the last month, two of which may request financial
assistance from the EDA in coming months.
IV. Promotions &Advertising Strategy
Economic Development ads continue to appear in The Business Journal,The Leasing
Guide, the Manufacturers Alliance newsletter and Finance&Commerce Magazine.
V. Public Relations Strategy
Technical Assistance Program
In May 2003, the EDA committed a$5,000 match to a grant provided to the EDA by the
Initiative Foundation to implement a two-year partnership program with Minnesota
Technology, Inc. (MTI). The program offers manufacturing companies up to a $2,000 grant
for technical assistance services, such as plant layout assistance or Lean manufacturing
training. Applications are reviewed and approved by staff.
Most recently,Elk River Machine received a$2,000 Technical Assistance Program grant for
strategic planning assistance provided by MTI.
The two-year grant period with the Initiative Foundation ended on May 31st but staff
• requested and received an extension until the end of this year.
Strategic Industrial Marketing Update
September 12,2005 EDA Meeting
Page 2 of 2
. Joint Event with MTI
Staff hosted a'Trim Down Up Front"-Lean Enterprise in the office event at City Hall with key
account, MTI on August 15th. The purpose was to provide an educational experience to
area manufacturers and to promote the Technical Assistance Program. Approximately forty
people attended the event including several representatives from Elk River Machine.
VI. Strategic Partnership Strategy
Sherburne County Economic Development
The County entered into a professional services agreement in May with Janna King of
Economic Development Services. Ms. King is handling special projects for the County until
a staff person is hired,including implementing one of the first action steps of the County's
Economic Development Work Plan,which is to conduct commercial and industrial market
analyses of cities and townships within the County. Staff met with Ms. King and has
provided the County with requested information regarding commercial and industrial
development in Elk River.
VII. Business Retention Strategy
Minnesota Manufacturing and Technology Week, October 17-21, 2005
Staff is working with the Elk River Area Chamber of Commerce in planning this year's
Minnesota Manufacturing and Technology Week event,which is tentatively scheduled for
Tuesday, October 18th. Details will be provided at the October 10th EDA meeting. City
Council and EDA members are strongly encouraged to attend this event to recognize our
local manufacturers.
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