7. EDSR 12-12-2011 - Laserfiche WebLink

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ITI~I 7. ver MEMORANDUM TO: Economic Development Authority FROM: Clay Wilfahrt, Assistant Director of Economic Development DATE: December 12, 201 1 SUBJECT: Business Retention & Expansion Program Attachments • Manufacturers List Background Staff and EDA Commissioners have a long history of conducting business retention and expansion visits. These visits help build relationships between the EDA and manufacturing businesses. Considering that studies estimate that as many as 80 percent of new jobs axe created by existing employers, it is imperative to maintain a positive relationship with current employers and to maintain afree-flowing stream of information between the two parties. In the past, meetings have ranged from formal surveys to informal meetings and tours of facilities. Staff has found the informal visits to be the most beneficial. Staff Recommendation There axe approximately 50 manufacturing companies in Elk River. Staffs goal is to meet with several manufacturing firms each month with the ultimate goal of visiting every manufacturing business in Elk River within two years. Previously, one or two EDA Commissioners and one or two staff members have attended each tour and lunch. Staff has found this personal approach to be very effective and beneficial to all parties To further promote Elk River Municipal Utility's programs and rebate opportunities, staff invites and ERMU staff member when feasible. Attached is a list of manufacmxexs in the area. The list was developed by staff and checked by the Chamber of Commerce fox consistenc}' Please indicate five companies you have an interest in visiting. If possible, please indicate manufacturers you have not visited before and those that have not been visited in the past five years. Additionally, staff will follow up with each Commissioner individually to schedule appointments. rB~EAEI ~r I`riATt~E