08-09-2004 EDA MIN - Laserfiche WebLink

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Economic Development Authority Minutes Page 2 August 9, 2004 Incubator tenants. She explained that staff is working with consultants to produce a direct mail piece to promote the Micro-Loan and Technical Assistance Programs. She brought the commissioners attention to the new Energy City brochure, which was in their packet. President Gongoll stated that Incubator Tenant Cymbet has been able to secure another $10 million from venture capitalists and investors. Ms. Steinmetz stated that staff and President Gongoll will be conducting a business retention and expansion visit to Supermats on Wednesday at The Depot and invited other members to attend. Commissioner Dwyer inquired to the tax exemptions that go along with the state's JOBZ program. Ms. Steinmetz explained that includes all taxes, and each city (zone) can decide the term up to a maximum of 12 years starting year 2004. 5.1 Gradient Technology & Orluck Industries Project Update Assistant Director of Economic Development Heidi Steinmetz provided an update regarding Gradient Technology stating that the project is on schedule, there are no issues foreseen to put the project behind schedule, and the tenants are expected to be in the building by November or December of this year. Commissioner Tveite arrived. Director of Economic Development Catherine Mehelich stated that Mark Orluck, President of Orluck Industries, has met with staff to review a preliminary site plan for up to a 20,000 square foot building. Staff anticipates construction to begin in September for occupancy by early next year. Ms. Mehelich stated that Mr. Orluck has mentioned difficulty in finding people for new positions. Commissioner Kuester inquired what qualifications Mr. Orluck is requesting in regards to jobs. Ms. Mehelich stated that she does not have the specifications but that he is looking for some CNC operators. Anoka Hennepin and Anoka Ramsey do have programs for this type of training and the city will be looking to partner with them. 5.2 Associated Investors Contribution President Gongoll wished to acknowledge formally the contribution to the Incubator Program of $7,903.23 from the Elk River Investors, Inc. He stated that 40 years ago the Elk River Associated Investors pooled their money and purchased property in the northern part of Elk River to be able to develop industrial sites. Eventually the city hired a development coordinator to handle the economic development functions and the city purchased that piece of property from the investors, which became the Elk River Industrial Park.