8.0. EDSR 01-13-2003 Item # 8
•
City of
Elk
River
MEMORANDUM
TO: Economic Development Authority
FROM: Heidi Hall, Economic Development Assistant H1
DATE: January 13, 2003
SUBJECT: Strategic Industrial Marketing Activities Update
Attachments
• 2003 Ad Schedule & Cost Proposals
• City of Elk River Economic Development Newsletter, Progress Partner Dispatch,
January 2003
• • Downtown Revitalization Update, City of Elk River Web Site, December 13, 2002
I. Product Offering Strategy
Staff is working with Ehlers &Associates to complete a financial and market analysis on the
option for a city-owned industrial park. In addition, staff is exploring alternative options for
working with private landowners. This information will be presented at a future meeting.
I I. Competitive Strategy
No new information was gathered in December.
I I I. Key Account/Lead Generation Strategy
Meetings with key accounts were delayed in December due to the holidays. Meetings are
being scheduled for January and February with Wells Fargo Bank,The Bank of Elk River,
Ryan Companies, and Opus Northwest.
V. Promotions & Advertising Strategy
Inquiries
ACT contact management software has been purchased and will be installed to better track
inquiries and key accounts.
Economic Development Web Page
Staff has continued to develop the Economic Development web page,which is located
within the City's web site at www.ci.elk-river.mn.us. Staff will incorporate the input received
• from the staff Siting Team regarding the Site Location Assistance portion of the web page.
Strategic Industrial Marketing Activities Update
January 13,2002
Page 2 of 2
• 2003 Ad Campaign
Staff met with Tammy Miller Design to finalize this year's Strategic Industrial Advertising
Campaign. Please see the attached 2003 ad schedule and cost proposals.
Advertisements will be featured in the MN Real Estate Journal,Leasing Guide, and MN
Business publications. The total cost for print advertising in 2003 (not including design)will
be$14,450.00. Initial ads concepts feature Cymbet, SoftPac, E& 0 Tool and Plastics, and
Metal Craft Machine&Engineering.
V. Public Relations Strategy
Energy City
Staff met with Energy City web site designer,Brent Mealhouse, to refine concepts for the
redesign of the Energy City web site,which is located at www.elkriverenergycity.org. A major
increase in energy related photos/images,links,and demonstration sites will be included as
part of the site, as well as a new Elk River Business Incubator page since energy related
companies are encouraged to apply for the program. Energy related companies involved
with the Incubator include graduate Bixby Energy Systems and former tenant SolarAttic.
Public Relations Newsletter
The January 2003 City of Elk River Economic Development Newsletter was recently sent to
200 people in the following targeted groups (see attached newsletter):
• • Elk River manufacturers
• High-tech companies located in Anoka, Sherburne, and Wright Counties
• Prospects/inquiries
• Key accounts
• Local developers,realtors, etc.
The newsletter will be a quarterly publication. The purpose is to inform businesses of
information useful to their operations and present an"open for business"image.
VI. Strategic Partnership Strategy
Downtown Revitalization Project
A monthly Downtown Revitalization Project update is located within the City's web site
under the News &Events sidebar and the Downtown Revitalization Project link (see
attached update).
Anoka-Hennepin Technical College
In early February, staff will attend a tour of Anoka-Hennepin Technical College in order to
learn more about the Secondary Technical Education Program Program (STEP), a program
that provides technical education for 11th and 12th grade students. Staff will utilize this
program to assist local manufacturers in forming or strengthening partnerships with the
college to address workforce issues.
Strategic Industrial Marketing Activities Update
January 13,2002
Page 3of3
• VII. Business Retention Strategy
Business Retention Program
BRE lunch visits are being scheduled for late January with AlltoolPinnacle Design &
Manufacturing and MN Fabrication&Machine. Staff will contact EDA members
individually to schedule future meetings.
S
• my miller design
City of Elk River — MediaYear 2003
By Publication
BUSINESS JOURNAL
SIZE PUBLICATION DATES FOCUS SECTIONS MATERIAL DEADLINE
I) 1/8 page BW February 21 Commercial Real Estate February 14,2003
2) 1/4 page BW March 7 Spring Space Leasing Guide February 25,2003
3) 1/8 page BW May 16 Commercial Real Estate Developers May 9,2003
4) 1/8 page BW June 13 Commercial Real Estate Guide June 3,2003
5) 1/8 page BW August 15 Commercial Real Estate August 8,2003
6) 1/4 page BW September 12 Fall Space Leasing Guide September 2,2003
7) 1/8 page BW November 21 Commercial Real Estate November 14,2003
LEASING GUIDE
SIZE PUBLICATION DATES FOCUS SECTIONS MATERIAL DEADLINE
1) 1/3 page 4C February January 3 I,2003
. 2) 1/3 page 4C May April 3 I,2003
3) 1/3 page 4C August July 31,2003
4) 1/3 page 4C November October 31,2003
MINNESOTA REAL ESTATE JOURNAL
SIZE PUBLICATION DATES FOCUS SECTIONS MATERIAL DEADLINE
1) 1/4 page BW February 3 Corporate Real Estate January 24,2003
2) 1/4 page BW March 3 Economic Development February 21,2003
3) 1/4 page BW April 23 Corporate Real Estate April 14,2003
4) 1/4 page BW July 21 Economic Development July I I,2003
5) 1/4 page BW September I Corporate Real Estate October 22,2003
6) 1/4 page BW December 22 Year in Review December 12,2003
7) 1/4 page BW November Economic Development Conference TBA
STAR NEWS
SIZE PUBLICATION DATES FOCUS SECTIONS MATERIAL DEADLINE
I) Full Page BW October 22 MN Manufacturers Week October 17,2003
• Op- my miller design
City of Elk River — MediaYear 2003
By Material Deadline
SIZE PUBLICATION DATES PUBLICATION MATERIAL DEADLINE
1) 1/4 page BW February 3 MREJ January 24,2003
2) 1/3 page 4C February Leasing Guide January 3 I,2003
3) 1/8 page BW February 21 Business Journal February 14,2003
4) 1/4 page BW March 3 MREJ February 21,2003
5) 1/4 page BW March 7 Business Journal February 25,2003
6) 1/4 page BW April 23 MREJ April 14,2003
7) 1/3 page 4C May Leasing Guide April 31,2003
8) 1/8 page BW May 16 Business Journal May 9,2003
9) 1/8 page BW June 13 Business Journal June 3,2003
10) 1/4 page BW July 21 MREJ July 11,2003
1 1) 1/3 page 4C August Leasing Guide July 3 I,2003
12) 1/8 page BW August 15 Business Journal August 8,2003
13) 1/4 page BW September 12 Business Journal September 2,2003
14) Full Page BW October 22 Star News (ER Newspaper) October 17,2003
0 15) 1/4 page BW September I MREJ October 22,2003
16) 1/3 page 4C November Leasing Guide October 31,2003
17) 1/8 page BW November 2 I Business Journal November 14,2003
18) 1/4 page BW November MREJ TBA/Nov?
19) 1/4 page BW December 22 MREJ December 12,2003
•
• my miller design
•,„
MINNESOTA REAL ESTATE JOURNAL
published twice a month except March and September three times.
FINAL 2003 MEDIA PLAN
6x in MREJ to run once every other month -
(offers a 10% discount off of open advertising)
6x rate for a 1/4 page ad in BW at $805.00 per ad
TOTAL - $4,830.00
•
110
612 250,3510 9988'andel Avenue N.E. Monticello * MN * 55362
tammy(g)ammymillerdesign,com
at\
410
my miller design
MINNESOTA LEASING GUIDE
published quarterly
FINAL 2003 MEDIA PLAN
4x to run the each issue
• 1/3 page horizontal 4 color at a 4x rate
TOTAL - $1 ,3 10.00
411/
612,250-3510 9988 Jandei Avenue N.E.. Monticello - MN 4 55362
tarnmArtornmymillerdesign.com
TAmmy miller design
BUSINESS IOURNAL
published weekly
2003 MEDIA PLAN
7 ads to run every other month for a year
• 2 - quarter page B/W ads at $1680.00 per ad to be positioned in the
spring and fall SPACE LEASING GUIDE
• 5 - eighth page B/W ads at $990.00 per ad to be positioned in
Commercial Real Estate focus in February, May, August, and November,
and the Commercial Real Estate in June.
TOTAL - $8,310.00
•
* spot color is an extra $350 per ad
•
•
612.250.3510 9988 Jandel Avenue N.E.. Monticello • MN m 55362
tammy{ixtammymil lerdesign.com
1
PROGRESS PARTNER
1.''-„,,t , ch ,lk
i
'
River
January 2003 The Light Industrial Hub of the Northwest Metro
Finding cash in your business' floorboards Partnership vs.
through cost segregation Landlordship
If someone told you there was money in the walls of a building It's easy to understand how many
you owned,you'd knock out a little sheet rock to find it. Recent cities work to attract new firms,
changes to tax provisions allow you to find significant tax relief, only to forget about them once the
putting cash in your pocket,through Cost Segregation. tax revenue starts flowing.
The basic concept is simple. Cost segregation allows you to The City of Elk River prefers to
separate elements of building acquisition,construction or look beyond the immediate benefits
ownership so that some items may be depreciated more for both the community and the
quickly. The faster the depreciation,the more quickly you will new business neighbor to what the
reduce your tax liability. future can hold for everyone.
When President Bush signed the"Job Creation and Worker In an effort to attract and support
Assistance Act of 2002"a firm with $100,000 invested in new businesses in its business
buildings would benefit from tax savings of around $23,000, parks,Elk River strives to look for
411 according to Stirtz Bernards Boyden Surel & Larter PA. ways the municipal government
can add value for businesses,
"Completing a Cost Segregation study generates cash savings by beyond tax breaks and facilitation
pulling short-lived assets that are imbedded in a building's of paperwork.
construction or acquisition cost and putting them on a more
appropriate,and short depreciation calendar,"says Karen Elk River's economic development
Fredrickson of Stritz Bernards Boyden Surdel & Larter. "This new professionals are actively pursuing
tax law makes engineering based cost segregation a reliable way information and programs that can
to receive tax savings that will pass government scrutiny." be implemented by its new and
existing industrial businesses. The
Fredrickson cautions that a detailed study is necessary to assure goal of this effort is to provide
government agencies accept the depreciation schedule. "A business expertise on a consultative
complete audit trail,clearly showing how things were moved basis to small and mediums sized
from a long term depreciation schedule of 39 years to as little as firms that may not be able to
7,keeps a firm within recognized IRS rulings and decisions," access such support alone.
continues Fredrickson. "We generally see a benefit of at least $10
for every dollar spent on conducting a cost segregation study." One part of that effort is this
newsletter,which will provide
To learn more about how a cost segregation study can improve interesting stories about ways to
the cash flow of your business,Ms.Fredrickson can be reached at maximize the efficiency and
(952) 831-6499 or by e-mailing: karenf@sbbsl.com productivity of your business.
We hope you find it valuable,and
welcome your comments on its
contents. If you think of an area
. you would like to see highlighted
in a future issue,please contact
Catherine Mehelich, Director of
Economic Development at
(763) 441-4905.
''. ''riAiiid,3' 1 . "Fld P11'="P a9::', t:3i�Nd� :1, �?32tttr�i""ii 200 acres for
-r i� _ , =Y business growth
v
i --y ] M1I� V CCA iNER
A,s
,
— Elk River industrial land prices
, �..rv.,,..., I . are not only competitive with area
L communities,but the city offers"lit,
- t abatement and subprime loans to
`�''% 7.4 s make the city a cost-effective
1 3� I option.
�_: - , L
1 �� _..
�:z ',� . s'f �:_ -- The East Business Park,located
1 ' G -- - on Highway 169,contains
1 a " 1
1 x I,. .�;;„ r� - - :� approximately 70 developable
7 o �jr, 1 x`11 ` r — r acres. The West Business Park,
o-� i -� ...t , j � 1 40» - located on Highway 10,boasts
' t ,-..;;;-'5,',—:'!7A.,4''‘. �a;t,-0.,,,,_.----r-
� Y'' - ` _ nearly 100 acres for industrial
°„ r ;� i� and office development. Cascade
`` > - _ Industrial Park adds an additional
46 acres to the total available
_ter--�� „ , '- land.
1 "'' i ', .) For more information about the
' :� , ,, City of Elk River,and a Location
Site Guide,contact Heidi Hall at
• _ �� - - (763) 241-5526 or visit the
* Y city website at www.ci.elk-
' river.mn.us,which includes an
City of �,i ` interactive map with detailed
Elk _ �. ( ' a information about
River °`''i i i ,,4', available industrial sites.
Elk
River
I3065 Orono Pkwy
Elk River,MN 55330
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