7.1. EDSR 05-18-2020 Elk Request for Action
River
To Item Number
Economic Development Authori 7.1
Agenda Section Meeting Date Prepared by
General Business May 18, 2020 Amanda Othoudt,ED Director
Item Description Reviewed by
EDA Strategic Plan Update Cal Portner, City Administrator
Reviewed by
Action Requested
Receive update and provide direction to consultant.
Background/Discussion
At their April 20, 2020, meeting,the EDA approved a contract with Stantec Consulting Services, Inc. to
proceed forward with the EDA Strategic Plan.
Tom Leighton,Economic Development Specialist, Senior Urban Planner from Stantec Consulting
Services, Inc.will provide an update to the EDA and discuss next steps.
Following the update,provide staff with direction on scheduling a date and time to hold a work session
with the consultant.
Financial Impact
N/A
Attachments
■ N/A
The Elk River Vision
A welcoming community with revolutionary and pirited resourcefulness,exceptional service,and community
engagement that encourages and inspires prosperity P 0 w E H E D 0 Y
ItAIAT- IJR
ELK RIVER Beautiful picture June 3, 2020EDA Workshop EDA STRATEGIC PLAN
•Agenda(15 minutes)Members Parting thoughts from EDA •opportunities (What might we do?)Elk River’s economic development o context (Who are we?)Elk River’s economic development o(45 minutes)Workshop
•(15 minutes)Context setting •Introductions
Approaches to Economic Development DevelopmentReal Estate
Coronavirus: impact on the U.S. economy
COVID 19) cases from January 22 to June 3, 2020, by day-Number of U.S. coronavirus (COVID 2020, by day*19) in the United States from January 22 to June 3, -Number of new cases of coronavirus
(COVID 3 ID 1102816WHO; Source(s): .Further information regarding this statistic can be found on United States; January 22 to June 3, 2020 Number of new casesMay 30May 27May 24May 21May
18May 15May 12May 9May 6May 3Apr 30Apr 27Apr 24Apr 21Apr 18Apr 15Apr 12Apr 9Apr 6Apr 3Mar 31Mar 28Mar 25Mar 22Mar 19Mar 16Mar 13Mar 10Mar 7Mar 4Mar 1Feb 27Feb 24Feb 21Feb 18Feb 15Feb
12Feb 9Feb 6Feb 3450004000035000300002500020000150001000050000 19 overview-
Unemployment U.S. unemployment rate: seasonally adjusted April 2020 adjusted)-Monthly unemployment rate in the United States from April 2019 to April 2020 (seasonally 17 ID 273909Bureau
of Labor Statistics; Source(s): .page 52Further information regarding this statistic can be found on United States; April 2019 to April 2020; 16 years and olderNote: Unemployment rateApr
'20Mar '20Feb '20Jan '20Dec '19Nov '19Oct '19Sep '19Aug '19Jul '19Jun '19May '19Apr '1916.0%14.0%12.0%10.0%8.0%6.0%4.0%2.0%0.0%14.7%4.4%3.5%3.6%3.5%3.5%3.6%3.5%3.7%3.7%3.7%3.6%3.6%
Public opinion 19 by income May 2020-Share of U.S. adults financially affected by COVID May 2020, by income group-Share of U.S. adults who have lost a job or taken a pay cut as a result
of the COVID 35 ID 1109939Pew Research Center; Source(s): .page 68Further information regarding this statistic can be found on United States; April 29 to May 5, 2020; 18 years and older;
10,957Note: Lower incomeMiddle incomeUpper incomeShare of respondentsNet either / bothTaken a pay cutLaid off or lost job40.0%35.0%30.0%25.0%20.0%15.0%10.0%5.0%0.0%36%28%23%28%21%16%22%18%8%
Impact on work and the economy 19 May 2020-U.S. adults' concern about job loss or pay cut from COVID 19 outbreak as of May 2020, by level of concern-due to the COVIDShare of adults in
the United States who are concerned they may lose a job or have a major pay cut 28 ID 1110090YouGov; ViacomCBS; Source(s): .page 62Further information regarding this statistic can be
found on United States; May 11 to 13, 2020; 18 years and older; 2,000Note: Share of respondentsAlready got reduced hoursAlready lost a jobNot at all concernedNot too concernedSomewhat
concernedVery concerned30.0%25.0%20.0%15.0%10.0%5.0%0.0%6%7%21%20%26%19%
Unemployment U.S. unemployment rate by industry and class of worker April 2020 Unemployment rate in the United States by industry and class of worker in April 2020 18 ID 217787Bureau
of Labor Statistics; Source(s): .page 53Further information regarding this statistic can be found on United States; April 2020; 16 years and olderNote: Industry and class of workerUnemployment
rateFinancial activitiesGovernment workersAgriculture and related private wage and salary workersSelf-employed workers, unincorporated, and unpaid family workersProfessional and business
servicesMining, quarrying, and oil and gas extractionEducation and health servicesInformationManufacturingTransportation and utilitiesTotalConstructionWholesale and retail tradeLeisure
and hospitality45.0%40.0%35.0%30.0%25.0%20.0%15.0%10.0%5.0%0.0%5.4%9.4%9.6%9.7%9.8%10.2%10.9%11%13.2%13.5%14.4%16.6%17.1%23%39.3%
Impact on work and the economy 2020-Real GDP growth in the United States, by quarter 2011 Quarterly growth of the real GDP in the United States from 2011 to 2020 22 ID 188185BEA; Source(s):
.page 56Further information regarding this statistic can be found on United States; 2011 to 2020Note: Percent change from preceding period'20Q1'19Q4'19Q3'19Q2'19Q1'18Q4'18Q3'18Q2'18Q1'17Q4'17Q3'17Q2
'17Q1'16Q4'16Q3'16Q2'16Q1'15Q4'15Q3'15Q2'15Q1'14Q4'14Q3'14Q2'14Q1'13Q4'13Q3'13Q2'13Q1'12Q4'12Q3'12Q2'12Q1'11Q4'11Q3'11Q2'11Q18.0%6.0%4.0%2.0%0.0%-2.0%-4.0%-6.0%
Public opinion 19 May 2020-U.S. adults' opinion on the time for economic recovery from COVID May 2020, by length of time for recovery19 outbreak as of -Opinion of adults in the United
States on the economic outcome of the COVID 37 ID 1110099YouGov; The Economist; Source(s): .page 70Further information regarding this statistic can be found on United States; May 10
to 12, 2020; 18 years and older; 1,491Note: Share of respondentsNeverSeveral yearsAt least a yearThree months or soLess than one month40.0%35.0%30.0%25.0%20.0%15.0%10.0%5.0%0.0%4%29%37%17%10%3%
How are local governments Addressing human needs for food, shelter, medical care•Reducing/eliminating/deferring fees for permits, licenses, etc.•Regulatory flexibility to support outdoor
seating areas•Marketing local businesses (“Buy Local” programs)•Creation of municipal business loan program•For helping businesses pivot to online platforms•For business loan/grant
applications•Provider or funder of technical support•Clearinghouse of information•Convener•responding?
Elk River Economic Development Who are We?
Elk River Economic Development Who are We?
Great Economic Context MapElk River Gravel MineERX Motor Park/ 3 miles toSince 2000New Industrial Trails ParkWoodland StationRail Commuter EnergyRiver
Elk River Economic rich)-(JobDestination Employment EcosystemBase/ Manufacturing Mpls, St. CloudProximity to Transportation ProjectRedefine 169 Options?Housing Enough Hwy 10Hwy 169,
Railroad, –Barriers Physical AvailabilityLand Industrial DistrictSchool Rated Highly AffordableHousing is RailCommuter Northstar CenterRetail Destination Regional Up Northto/from Way
On the Motor ParkERX -Attraction EventsDowntown, Parks, Amenities: Life Quality of BusinessesRetail Support Volumes Traffic AffordabilityLand ReliabilityElectric Utility, Threats, Deterrents,
Assets
Elk River Existing What are the potential opportunities?Elk River Economic Development 8. Workforce Development7. Retail Vibrancy5. Redevelopment4. Catalyst Projects3. BR&EAttraction2.
Land Availability for Business 1. Industry Clusters for Elk River?What is the Opportunity Existing ActivityEDA Conditions
Elk River Economic Development economyEDA actions/programs that could strengthen Elk River’s Ways to strengthen Elk River’s economy, OR 9. Incentive Policies8. Workforce Development7.
Retail Vibrancy6. Tourism, Marketing5. Redevelopment4. Catalyst Projects3. BR&EAttraction2. Land Availability for Business 1. Industry Clusters for Elk River?What is the Opportunity
Existing ActivityEDA ConditionsElk River Existing What are the potential opportunities?
Elk River Economic Development opportunities?What are the potential
Elk River Economic Development opportunities?What are the potential
The direction I’d like the EDA to move Parting Thoughts Elk River is…The ED opportunity I’m most interested in for toward is…