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5.0. EDSR 02-09-2004 ITEM # 5. • �/ City of Elk River MEMORANDUM TO: Economic Development Authority FROM: Heidi Steinmetz, Assistant Director of Economic Development DATE: February 9, 2004 SUBJECT: Strategic Industrial Marketing Activities Update Attachments • Memo from Sid Inman, Ehlers&Associates, entitled Industrial Business Parks — Development Agreement Points • "Employment Growth is Scattered Among Central MN Communities",MN Dept of Employment & Economic Dezeloprnazt Press Release,November 14,2003 • • Elk River Community Profile 2004 Web Page • City of Elk River Web Site,Home Page • 2004 Money Breakfast Flyer I. Product Offering Strategy Industrial Land Issue Staff and Ehlers&Associates are awaiting response from landowners of Elk River Business Park and Elk Path Business Center regarding terms of a master development agreement. The attached memo outlines the proposed terms. I I. Competitive Strategy The MN Dept. of Employment&Economic Development (DEED) provides custom analysis/presentations of statistical workforce information to communities throughout the State per request by communities. This service is free of charge. The attached article entitled "Employment Growth is Scattered Among Central MN Communities",prompted staff to request a custom analysis from DEED on job growth, etc. between Elk River and its competitors. Therefore,Cameron Macht,DEED Labor Market Analyst,will present his findings regarding staff's special request to the EDA at its March meeting. • Strategic Industrial Marketing Activities Update February 9,2004 Page 2 of 3 • I I I. Key Account/Lead Generation Strategy The 2003 Inquiry/Prospect Report will be presented at the March regular meeting. I V. Promotions &Advertising Strategy Advertising Details on the 2004 Advertising Campaign include: • A total of seventeen ads will be evenly distributed among The Business Journal,The MN Real Estate Journal Leasing Guide, and the Manufacturers Alliance Newsletter • Five manufacturers will be featured in the ads (Cymbet, E&0 Tool, SoftPac,Metal Craft, and Sportech) • Cymbet, E&0, and Metal Craft photos and company testimonials will be reused from the 2003 ad campaign • New photos and company testimonials will be used in 2004 for ads featuring SoftPac &Sportech • The total 2004 advertising budget is$28,500 (thus far,approximately$18,000 has been designated for ad space and approximately$5,000 has been designated for ad design) V. Public Relations Strategy Community Profile 2004 The Community Profile is currently available for download on the city web site (see attached Community Profile web page). Hard copies of the Profile will be distributed in the • Economic Development marketing packets, at the Chamber of Commerce, at City Hall and per request. Web Site Staff has followed up on the EDA's request to make industrial site information more easily accessible on the City's web site. An"Industrial Sites" link is now located on the home page of the web site (see attached home page). 2004 Money Breakfast Please see the attached 2004 Money Breakfast flyer. Staff sent flyers to all Elk River manufacturers. The Money Breakfast will be held at Connections in Big Lake on Wednesday,February 11th from 8:30 to noon. Sponsored by the Sherburne County Economic Development Alliance and the Chambers of Commerce of Becker,Big Lake, Zimmerman,Princeton and Elk River,the 4th Annual Money Breakfast is a workshop for new or existing small businesses interested in the latest financing program/techniques,relocating or expanding,employee retention,etc. The Director of Economic Development will present a case study highlighting the financing process for the Sportech expansion. MN Real Estate Journal (MREJ) Economic Development&Site Selection Conference The conference is scheduled for February 26, 2004. The highlight of the conference will be • a presentation on the State's JOBZ Program by the Commissioner of the MN Dept. of Employment&Economic Development (DEED). Strategic Industrial Marketing Activities Update February 9,2004 Page 3 of 3 • The City has cosponsored this event for the past two years. The event has been successful for reaching key account audiences, including approximately 200 brokers, developers, and realtors. Elk River will receive a half page ad, small article, and booth space at the event. In addition, the Director of Economic Development will be a panelist during a round table discussion regarding business financing. Please contact staff if you would like to attend this morning event. 4th Edition Economic Development Newsletter, The Progress Partner Dispatch Staff is working with Public Relations consultant Mike Porter in preparation for the 4th Edition Progress Partner Dispatch,which is anticipated to be distributed in early March. Technical Assistance&Operations Consulting Program In May 2003, the EDA committed $5,000 of the EDA's Advertising/Marketing budget to implement a two-year partnership program with MN Technology, the Technical Assistance & Operations Consulting Program. Companies may receive up to $2,000 for technical assistance services and must contribute 25%towards the services. Staff recently received an application from a prospect for the program. MN Technology has scheduled a meeting with the company to discuss the appropriate technical assistance • services. VI. Strategic Partnership Strategy Downtown Revitalization Project The HRA extended the Preliminary Redevelopment Agreement with MetroPlains to April 5, 2004 to provide sufficient time to work together toward a development agreement. Staff and Jim Prosser, Ehlers&Associates, conducted fifteen meetings (totaling approximately thirty people)with downtown property&business owners during the month of January. The purpose of the meetings is to seek feedback on parking issues, including reaction to several options to address the removal of the public parking in the Jackson Block. Staff and Mr. Prosser will continue these meetings in February. VII. Business Retention Strategy Business Retention&Expansion (BRE) Visits Staff will contact EDA members individually to schedule future BRE visits. • EHLERS • & SsOC � ,,- E , MEMORANDUM TO: Catherine Mehelich, City of Elk River FROM: Sid Inman,Ehlers and Associates Inc DATE: January 26,2004 RE: Industrial Business Parks-Development Agreement Points A master development agreement with the EDA would be established as to the terms and conditions of the assistance,and it would apply to each lot assisted. The agreement could include: 1. An estimate of the square feet of building that would take place. 2. An estimate of the timing of the building that would take place. 3. An estimate of the assessor's market value of the building that would take place. 4. Establish the total cost per square foot to develop the site including: a. Amount to be paid to the landowner. b. Amount of current special assessments. c. Amount of future special assessments. d. Park Dedication Fees e. Other City fees passed on to the buyer at land sale. f. Annual cost to the landowner of carrying the project. • 5. A"but for"analysis requirement for 4. a. above. 6. A look back provision that will review the"but for"analysis after the project is complete. 7. Establish the"Gap"per square foot that the EDA or City would use assistance for. 8. Assistance could be Tax Increment from the EDA or Tax Abatement from the City. 9. Assistance for"Gap"would be pay as you go notes. 10. Pay as you go notes could be held by landowner or passed on to the buyer. 11. Level of assistance would also be based on jobs. 12. Level of assistance would also be based on quality and size of building. 13. Public Improvements may include City assessment bonds. 14. If assessment bonds were issued, assistance would first go to bond payments. 15. 80%or 90%of the assistance is available to the development. 16. As soon as all eligible and agreed upon costs are paid,the assistance would stop. 17. The terms would be reviewed annually. 18. The contract would be for a term equal to the estimated build out schedule of the park. An individual development agreements would be established each time a lot is developed based on the master development agreement and specific to the lot developed. Please let me know if you have questions or comments. Employment Growth Is Scattered Among Central Minnesota Communities Page 1 of 1 1.1°. D Lit -u it ' 1 IIpasi (.....; mneso a Dement of Erraployment and Economic Development Communications Office • Web site:www.deed.state.mn.us • Phone:651/297-1192 or 1-800-657-3858 • Fax 651/215-3841 Employment Growth Is Scattered Among Central Minnesota Communities Date: Friday, November 14, 2003 Contact: Cameron Macht 320/231-5174 x7535 FOR IMMEDIATE RELEASE Cameron.Macht@state.mn.us ST. PAUL — Minnesota employment has contracted 2.7 percent since the start of the recession — but the recession has not impacted all industries and places equally. Newly released employment statistics from the Minnesota Department of Employment and Economic Development (DEED) provide local details on where job losses and gains have occurred over the past two years. In fact, the recession has noticeably rearranged rankings of Minnesota's growth leaders. "Economic activity really happens at the local level," said Matt Kramer, Commissioner of Employment and Economic Development. "Analyzing the local changes provides market-watchers with a better understanding of the opportunities and challenges that lie ahead." Se ral Central Minnesota communities have added jobs despite the challenging economy Elk River le the region with net growth of 671 jobs. Employment based in Cambridge has expanded sy 651 lobs. Saint Cloud, the site of a major plant closing, has suffered the most severe loss since 2001. Top Five Cities Qtr 1 2001 Qtr 1 2003 Net Job Top Five Cities Qtr 1 2001 Qtr 1 2003 Net Job Adding Jobs in Employment Employment Growth Losing Jobs in Employment Employment Loss Central Minnesota Central Minnesota Elk River, herburne 9,388 10,059 671 St.Cloud,largely 51,368 49,045 -2,323 Stearns Cambridge, Isanti 6,504 7,155 651 Mora,Kanabec 3,229 2,906 -323 Sandstone,Pine 1,051 1,657 606 Lake Lillian,Kandiyohi 273 78 -195 Princeton,largely Mille 4,096 4,481 385 Sartell,largely Stearns 3,177 3,002 -175 Lacs St.Michael,Wright 2,322 2,695 373 Litchfield Twp, Meeker 644 481 -163 Albertville,Wright 1,334 1,707 373 Local employment statistics, with industry details for every county and 2,000 communities in Minnesota, are now available. DEED's new data access tool is online at www.MnWorkForceCenter.org/Imi/es/. The data series are updated quarterly through DEED's Covered Employment and Wages Program. Copyright©1999-2003,Minnesota Department of Employment and Economic Development.All rights reserved. IIIHome I Contact Us I About DEED I Privacy Statement I Search north t http://www.deed.state.mn.us/news/release/2003/1m14Nov03h.htm 2/2/2004 City of Elk River-- Community Profile 2004 Page 1 of 2 i City 0� Y E - iverHRiver- Home ome Community Profile 2004 The Community Profile contains six pages of News&Events - demographic information on the City of Elk River. rit ., Download your copy by clicking on the PDF version below or request a hard copy by Government CarnmEmrty Profile 2001 contacting Heidi Steinmetz at (763) 635-1042 or hsteinmetz@ci.elk-nver.mn.us. 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Elk River, MN 55330 Website Policies Home I News&Events I Government I Departments I Services I City Code I Links • Powered try Quelaxam Yom. �.._J http://www.ci.elk-river.mn.us/index.asp 2/3/2004 The Sherburne County Economic Development Alliance and the Chambers of Commerce of • Becker, Big Lake, Zimmerman, Princeton and Elk River Present: 4th Annual MONEY BREAKFAST Wednesday, February 11, 2004 at Connections, Etc., 440 Eagle Lake Road Big Lake, MN $ 5.00 IF YOU ARE: ➢ a small business interested in the latest financing programs and techniques, ➢ a small business interested in relocating or expanding, ➢ a small business already operating and interested in achieving the next level, ➢ contemplating or planning to establish a new business ➢ considering hiring, training and keeping employees • , , . THIS WORKSHOP IS FOR YOU! 8:00 a.m. REGISTRATION & Continental Breakfast 8:30 - 12:00 p.m. PROGRAM Financial assistance and self-help information for start-up, new and expanding small businesses will be presented by: •Initiative Foundation •Minnesota Department of Employment & Economic Development (DEED) •Minnesota Technology, Inc. •Small Business Administration (SBA) •Small Business Development Center (SBDC) •Minnesota Business Finance Corporation (MBFC) •Commercial Loan Officers from the area's banks •Minnesota Workforce Center - Monticello • Economic Development Officials from Sherburne County and the Cities of Becker, Big Lake, Zimmerman, Princeton, and Elk River • Make your reservation by calling Elk River Area Chamber of Commerce at 763-441-3110 by February 9 * * * * Park in the rear of the building, and enter through the purple door