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2.3. ATTACHMENT 2 06-18-2018 2.3. attachment 2 2016-2020 EDA/HRA Strategic Plan BUSINESS DEVELOPMENT Attract new businesses and support existing businesses to increase the city's industrial tax base, commercial tax base and employment base. INDUSTRIAL STRATEGIES ➢ Promote available sites, encourage business retention and expansion to grow existing light industrial base with business recruitment/attraction techniques ➢ Diversify economic base to include professional services, corporate campuses, energy- related companies, and technology businesses ➢ Review existing programs, resources, and services and recommend improvements to increase competitive advantage and support goals ➢ Explore creative economic development collaborations ➢ Utilize Energy City and its tools to recruit new and assist existing businesses COMMERCIAL STRATEGIES ➢ Promote available sites, encourage business retention and expansion to grow existing commercial base with business recruitment/attraction techniques ➢ Diversify economic base to include a wide variety of retail and service industries, as well as additional fine dining opportunities ➢ Review existing programs, resources, and services and recommend improvements to increase competitive advantage and support goals ➢ Explore creative economic development collaborations ➢ Enhance commercial district through business recruitment and activities ACTION STEPS • Complete minimum of one BRE visit a month with participation from EDA/HRA and Council members (manufacturers and top employers) and distribute Business Finance Toolkit,Available Sites, Community Profile, Energy City Brochure, Business Recycling Toolkit and other pertinent information. • Promote available sites through exhibits at various expos (minimum 2x/yr.) • Utilize 171" FAST implementation plan to create a marketing piece for Nature's Edge Business Center and an annual redevelopment action plan to monitor progress of implementation • Partner with ERMU to identify applicable rebates for available city-owned property 1 • Promote applicable incentives through direct mailings(minimum 3x/yr.) • Promote Elk River to the restaurant industry through website (www.elkrivermn.gov/restaurants), direct mailings, Constant Contact email blasts and other marketing venues • Partner with Elk River Area Chamber of Commerce to coordinate Chamber goals with economic development goals through various implementation tasks • Utilizing economic development publications make contact with businesses looking to expand, relocate, etc. • Review Micro Loan Program and recommend improvements to increase competitive advantage and support goals • Partner with ECC and ERMU to explore a joint incentive to attract energy-related technology businesses • Partner with local schools and manufacturers to hold quarterly meetings to encourage students to explore a career in manufacturing through plant tours,youth apprenticeship programs, energy city tours and programs, and job shadowing • Update a powerful website for the Elk River Economic Development Department and the Housing and Redevelopment Authority. Provide analytic reports on a quarterly basis. • Demonstrate support for existing manufacturers and raise awareness regarding their impact on the community through various promotional activities and tours during Minnesota Manufacturers Week • Identify target industries (e.g. craft brewery, manufacturing and medical device, etc.) and create specific marketing pieces to identify advantages and programs to assist in business recruitment • Host quarterly Manufacturers' Connection events with local manufacturers to promote financial incentives, resources and relevant topics to promote business retention and appreciation • Produce an energy conservation best-practices brochure to provide to businesses • Coordinate with Energy City to plan and market energy city events e.g. Energy City Business of the Year • Partner with Energy City and the Streets Department and continue to promote proper disposal of Fats, Oils and Grease through videos,flyers, emails, social media, and other media • Host and Promote a quarterly business rountable event with local business leaders and community stakeholders. • Partner with the Elk River Area Chamber of Commerce to hold annual event to promote economic development resources and incentives (Juice Up Your Morning, Chamber luncheon, Money Breakfast, etc.) • Continued contact and relationship development with Twin City commercial real estate brokers/developers 2 REHABILITATION AND REDEVELOPMENT Undertake strategies that facilitate rehabilitation and redevelopment of aging commercial, industrial and residential areas to ensure private reinvestment and sustainability. COMMERICAL/INDUSTRIAL STRATEGIES ➢ Maintain a listing of available commercial/industrial sites ➢ Promote available sites through various marketing initiatives ➢ Identify and examine potential areas for revitalization ➢ Review existing programs, resources, and services and recommend improvements to increase our competitive advantage and support goals ➢ Enhance downtown commercial district through business recruitment and people- generating activities ➢ Develop and implement a blighted properties program for both commercial and residential properties ACTION STEPS • Identify target areas for the blighted properties program • Partner with downtown business association and civic groups to promote existing and explore new downtown activities (i.e. BNI, Chamber Connections, etc.). • Partner with Elk River Area Arts Alliance to explore funding concepts for an arts center within the downtown study area • Create and distribute a survey to businesses to identify recommended improvements to existing programs, resources and services, in addition to identifying preferred methods of communication to improve Elk River business climate • Identify current property owners' and businesses' interest in redevelopment efforts both north and south of HWY 10 and in 171ST Focused Area Study area • Create a redevelopment policy regarding capitalizing the HRA development fund and identify parameters for purchasing parcels • Create and distribute comprehensive business directory to promote downtown Elk River • Update short videos promoting available sites and applicable initiatives to distribute through social media outlets, constant contact and website 3 RESIDENTIAL STRATEGIES ➢ Maintain listing of vacant/foreclosed properties ➢ Address housing gaps with Comprehensive Housing Market Study recommendations ➢ Proactively review neighborhoods annually to ensure all home are properly maintained through the code enforcement process ➢ Seek and promote available programs to improve existing housing stock and incentivize homeownership through CMHP ➢ Provide educational opportunities regarding foreclosure prevention and housing assistance programs by developing brochures/pamphlets ACTION STEPS • Distribute MN Home Ownership Center foreclosure prevention, Energy City conservation brochure, and Elk River Housing Toolkit information to local lenders, realtors, churches, non- profits, builders, etc. (minimum 4x/yr.) • Partner with applicable non-profits (MNHOC,Tri-CAP, etc.)to hold educational events to promote foreclosure prevention and housing programs (minimum 2x/yr.) • Continue to partner with the CMHP housing organization to fund and support a selective housing removal and rebuilding program • Host an annual Realtors' Day to educate realtors about the programs, processes and amenities offered by the city 4 COMMUNITY BRAND Utilize community brand strategies to effect necessary changes to strengthen and enhance community image STRATEGIES ➢ Continue to implement and enhance marketing plan that reflects the Powered by Nature brand, identifies desired target market(s), and complements other local efforts to promote the community internally and externally ➢ Maintain existing and build new community support for the Powered by Nature brand ➢ Establish benchmarks for performance measurement ACTION STEPS • Distribute window clings and larger windows signs of the logo • Promote the brand, engage residents, and distribute materials at expos (3x per year) and at events such as Realtors' Day, Leadership Elk River, and Manufacturers Connection • Create profiles on first-tier business owners in Salesforce—a tracking software used to record information on local businesses and visits • Benchmark the impact of the Powered by Nature brand with data from Google Analytics and a search engine optimization analysis. • Promote Public Art Installation and research opportunities to expand public art within the city. 5 TRANSPORTATION Advocate and support proactive planning for improvements to the local and area transportation system in a way that will support existing businesses and complement new economic growth. STRATEGIES ➢ Advocate regional and local transportation improvements ➢ Encourage transportation improvements as part of redevelopment/development opportunities ➢ Support efforts to leverage local funds with state/federal resources ACTION STEPS(submitted by City Engineer) • Increase contact with legislators for state highway transportation improvements • Complete low cost/high benefit enhancements to improve traffic flow through the existing street intersections • Advocate for the continued use and expansion of Northstar commuter rail service. • Continue implementation of transportation improvements as detailed in the 171ST Focused Area Study • Assure all proposed development improvements are consistent with our local and regional transportation plans. • Leverage State and Federal investment for mobility improvements to TH 169 and TH 10 with the already spent local dollars for the planning of improvements to these sections. • Evaluate all available grant opportunities to determine if the local matching amounts are a cost effective and feasible solution to support our objectives and strategies. • Promote the Quiet Zone, Northstar Commuter Train and Bike paths. 6