6. HRSR 01-03-2011 - 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 UofM 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).