5. EDSR 08-09-2010 - Laserfiche WebLink

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2009-2012 Economic Development Strategic Plan Proposed Action Steps Issue: Industrial Development Objective: Attract new businesses & expand existing businesses to increase the city's industrial tax base Action Steps: - Expand City's inventory of available C/I land for development. • Evaluate current inventory of available C/I land. • Define desired C/I market and rank by priority. • Conduct research on site amenities required for target markets. • Identify sites that meet site requirements. • Evaluate assembly options (ownership, improvements, financing, etc) • Evaluate financing and focused marketing tools to attract target market. - Develop a Business Resource Directory highlighting services available from various partner agencies for start-ups, expansion and relocations. Consider partnering with Chamber to host Business Resource Expo. - Enhance and promote TIF, Tax Abatement and Micro Loan programs for eligible development and redevelopment projects. - Evaluate and consider fresh approach to consistent marketing image as "The Light Industrial Hub of the Northwest Metro", materials and methods. - Maintain and build networks with banks, brokers/developers, chamber, existing businesses, media and others. - Maintain annual Business Retention & Expansion visits to manufacturers with participation from elected/appointed officials. - Consider DEED's Shovel-Ready Site Certification Program for marketing sites. - Utilize DEED's Manufacturing Week to showcase existing firms. - Conduct annual update of Retail Trade Analysis with Uof1V1 Extension Service and share results with Chamber and business community. - Maintain marketing participation with the Energy City program to educate existing business community and recruitment tool for energy-related businesses. - Consider viability of Business Incubator Program (tenant mix, financing, space).