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5.0. EDSR 11-13-2001 Item/ 5 • ,41/ City of Elk River MEMORANDUM TO: Economic Development Authority FROM: Catherine Mehelich, Director of Economic Developmen ��/f DATE: November 13, 2001 SUBJECT: Marketing Plan Activities MN Real Estate Journal Economic Development & Site Selection Conference Attached are two articles and the advertisement,which featured Elk River during the conference. Staff participated on a panel discussion with three other community business/industrial park representatives. Staff presented the new "Site Location Guide" and the City's streamlined process for business development. Several conference participants (real estate brokers and developers) indicated great interest in considering Elk River for new business development and redevelopment. MN Technology Advertisement The City of Elk River participated with Anoka/Sherburne County Capital Fund in sponsoring the attached advertisement with Genesis Business Centers,winner of a 2001 Tekne Award. Tekne awards are made annually by the MN High Tech Association and MN Technology to recognize innovation, development and commercialization and leadership of technology in Minnesota. Prospect Update Staff recently provided a site visit to a large company seeking to expand into up to 250,000- square feet of distribution/warehouse, and ultimately add its manufacturing line. The company has the potential of creating over 100 jobs initially in the community. Staff has proposed locating the company in the 80-acre West Business Park to accommodate the company's future growth potential. The company is evaluating area communities and anticipates making a location decision by the end of this year for construction in Spring 2002. 2002 Advertising Campaign Staff is working with advertising consultant, Greta Wedell in establishing the 2002 advertising campaign. In addition, a public relations campaign will be established for 2002 as directed in the Marketing Plan. 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PD `LI n r-• ▪ © II) lea ' �,�, wl a V• ,."� R=' xC"3 CO" " "�, . .;- ”L'Lltit-t,..-* az ei MS•• C --.4`ca 111tH �. y'' y .a-. 1•4 • ics 0 1 .... tw yrs` rhe Anoka Sherburne CountyCa italFundandthe Cityof Elk River p ConraInlate Genesis Business Centers, Ilinner of a10011ekne 1Iard. The K . 1 -Genesis Partners Business Centers Genesis is a private economic develop k ment company which provides assistance r''ft'.„,-‘:.1:I1.:.11 '04'1:n-.-'$4,.1,,,4:-'", 1:,-;`',-4-i-.,'-1.„;t,•,...--,„1,,-.,1:7-::,-4:.-7,,;.,,,-Tr;i' a. to Minnesota's best and brightest seed r 1 �' n stage technology companies. ;is ►Anoka Sherburne County Capital Fund ' ' The ASCCF is a for profit fund created 1v, '"„',!.."Tr' — - _ . ,,T,„,,-.-:,,::':::-.-,.„r,:,,,-,,;if,i.-•;'-i:,),,.;,'„k4:.1,k„_.f0i'.,-f4-1:..,'--*,1,k4',-7V,,,.._,1„rtX,,,r':-.*.k1,!AW-.,-,%14,;:.t,17r."r-,4$,it.l-.1„.„.4;',:.z-: by the Anoka County Economic "~_ .”"...0,., ,c ??:IDevelopment Partnership which doe s j $ w4-- economic development work in and for ;, " * t„ Anoka County.The Fund makes equity �� investments in emerging technology q�'k,* ” companies that are or willlocate in Anoka s, Ior Sherburne Counties. .. City of Elk River ,- The light industrial manufacturing hub t4 ,, of the northwest,Elk River is 8 miles �a } p - north of the I-494 beltline.The city's : :1 •,1affordable land,Energy Citystatus,and financial assistance has proven appealing Cymbet Demonstrates the Power of Partnering to firms in all stages of growth--from incubator to international;from garage startup to regional rollout.Elk River has 0 ltimately,batteries in hearing aids,cell approached the City of Elk River about the more than 200 acres available. phones,and PDAs will disappear from Incubator Program,a collaboration between the consumer's consciousness and the city and Genesis. Clients Served become an integral part of the product. Genesis helped Mark launch his firm ►The ASCCF has invested in StepMate, Cymbet's goal is to develop a unique manu- with an initial bridge loan of$400,000 in Cymbet Corporation,Micro Surfaces, facturing process to produce these ultra seed capital.A significant portion of this Northstar Phototonics,and Vertical thin,solid state batteries which will be infi- investment came from the ASCCF and the Publishing as a result of the Genesis program in Elk River.In addition,the nitely rechargeable through wireless means. Elk River Investment Club,a unique local ASCCF has made 25 investments in Brian Shiffman,Cymbet's vice president business network. companies located in Anoka County of business development explains,"We did a Harlan Jacobs,president of Genesis says, thorough site selection for a location that "We took Cymbet overseas to Helsinki, For More Information could support our high-tech research and Finland and Tel Aviv,Israel to secure a total ►Harlan T.Jacobs,President manufacturing firm.We chose Elk River, of$4.5 million in venture capital funding. Fri �] 6 S I S U6CE I CENTERS LTD. y5- Minnesota because we were impressed with This allowed the company to finalize its wwwGenesisCenters.com the financial assistance from the Elk River technology transfer agreement with the (763)782-8576 Investment Club,the Anoka Sherburne Oak Ridge National Laboratory." Iv.Roger Jensen,President akunty Capital Fund, and Genesis Business Cymbet recently expanded from the incu- ASCCFenters." bator into it's own headquarters.Cymbet's Anoka Sherburne County Capital Fund Genesis Business Centers and the ASCCF Shiffman notes,"Now,that we've moved wwwacedp.org excel at identifying and assisting emerging into our new facility,we're thankful for (763) 786-0869 ►Cathy Mehelich,Director i technology companies as they strive to go Elk River's hometown flavor,the business City of Elk River,EDA rty of from laboratory to marketplace. community's camaraderie and the city's wwwc-eriver.mn.us Elk Cymbet's founder Mark Jenson first development expertise." (763)4.411k- 7420 River •4,Z.c.-...z.....-.':::li • . ..".."-,!•':.-!.!;,,,'„:1:i...:::::..:11 ,.,-:-_,,, ''''S': ' oz....- ti• /-'..',';''''-it -,.-- .:,,:: ..--:.1- FI:v-21..,.., : q.. MA_ ::..:,..:. _.,...-e- '_ : ..,,,t..; ,.....•, tz-A 't '.....,:.P' ...--- _ .., = •,,,:.K.,+-,..-2-,-,s., „_... , -- ,,,,,A N.:•,-.:,-•, :1,- *,.:\„,., k '''.,;‘,.:,L..:.--:::„.,'-' •- ',,-.6:-:,- ,...;;-••` -..,..11 1; 1777"?-1::•.1-7,--,,,,. ,- i--A fit 1 ty - !21 , ., ---,*. -''.• - '2', --,i• -..=:-.,t.,-. ••' ----'------,......—, 1.4 -4,:b ,-'-' :,1,1 #:•-,1f: - -*'. -:•":2-;,._:,.,:-%, ,f,t--1 *..,1 - '- — .. ..,` _ - _ nihmanne.‘atilisi elebrati-colit of , - _ ,: .- .„...,_ 110 Over the years, Minnesota has been home to some of the world's most successful technology companies. The Minnesota High Tech Association and Minnesota Technology, Inc. have joined together to recognize innovation, development, commercialization and leadership of technology in our state. • Tekne 2001 recipients are technology innovators who have made lasting contributions that enhance M innesota's quality of life and its economy. • PHOTOGRAPHS BY BAN MARSHALL 4 THE FINALISTS ) APPLICATION OF TECHNOLOGY INNOVATION: LEADERSHIP Dexma LIFE SCIENCES Dennis Miller—Midwest Wireless Gearworks 3M Joel Ronning—Digital River Ontrack Data International Gentra Systems Dennis and Vivian Siemer— Raymedica V-TEK Incorporated INNOVATION: COMMUNICATIONS INNOVATION: START-UP Midwest Wireless ADVANCED MANUFACTURING Definity Health Optical Solutions August Technology e.Intelligence Ubiquio HDM E-Travel Experts IBM INNOVATION: TECH TRANSFER INFORMATION TECHNOLOGY INNOVATOR Genesis Business Centers/ SOFTWARE Dr.Young-Hwa Kim—HDM University of Minnesota-Duluth • gl, Adaytum • Stephen Mase—Dexma IBM Stephen Shank—Capella Nistevo Stellent 2 8 MINNESOTA TECHNOLOGY November-December 2001