7. EDSR HANDOUT 12-13-2010 - Laserfiche WebLink

Home Browse Search

EDNHRA Executive Director's Report December 13, 2010 Pale 2 of 4 Business Retention/Expansion Visits Over the past year staff has made multiple contacts with the manufacturing businesses and continues to schedule visits with EDA Cormnissioners when possible. The only visit by Cotrunissionexs and/ox staff since the October report was with NIFR Metals. Staff has partnered with Elk River Municipal Utilities to also attend BRE visits to discuss rebate programs and any service concerns. In addition, staff maintains a relationship with the retail/service businesses by attending the Chamber's Juice Up Your Mornuigs program. EDA Micro Loans Staff continues to monitor the following micro loans which the EDA received update on at its August meeting -Roma Tool, Ethanol Technologies of MN, and Waterfall Salon. Staff received notice from the MN Dept of Employment & Economic Development of they: intent to "close out" the balance due the state on the 1986 Roma Tool loan, of which the City was responsible fox administering. Staff is also working with Promo Products, LLC to close on their recently approved micro loan for the purchase and remodel of an existing vacant manufacturing facility in the Elk River Industrial Paxk. In addition to amendments to the Micro Loan Program, staff is drafting guidelines for energy efficiency improvement loans that can be offered for C/I buildings in Elk River. The amendments will be reviewed by the Finance Conunittee fox recormnendation and final approval by the EDA in the next few months. Marketing Activities The primary marketing strategy is relationship building with the business and development community, including sponsorship, speaking engagements and participation in wade shows and conferences. The goal is to have a stronger image and presence with metro-area developer/broker community. This is also accomplished by building relationships with the development community with face-to-face meetings and attending developer/broker workshops and conferences. Staff recently participated in the following events -MNCAR Expo, EDAM's `Social Media' workshop, MN Real Estate Journal's `Industrial Park Update', Sensible Land Use Coalition, and Enterprise MN's `Green Lean Equals Business Growth'. Coxmnexcial/Industrial Sites In 2009 staff converted the in-house prepared listings to a direct link to the MeuoMSP website www.metromsp.org. Most recently staff has added LoopNet and Costar to the EDA webpage fox site searches. Staff also subscribes to the MN Cornmexcial Association of Realtors (MNCAR) which provides email blasts on prospects. Recent Inquiries/ProsRects Most prospects, through the MNCAR system, have been focused on searches for existing buildings, including restaurants, rather than new construction. Staff has been working with the State DEED office since August on a proposal fox a large light industrial prospect as part of a multi-state search. A site selection decision by the company is anticipated Spring/Summer 2011. No additional information can be shared at this time. Staff is following up with a few prospective developers/businesses from the MNCAR Expo as well as scheduling meetings with developers to discuss opportunities fox the Gateway Business Park. N:\Departments\Community Development\Economic Development\EDA to move\Agenda\Year2010\Exec Dir report 12.13.10.doc