6. HRSR 11-05-2012 - Laserfiche WebLink

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INDUSTRIAL DEVELOPMENT Attract new businesses and support existing businesses to increase the city's industrial tax base and employment base. STRATEGIES ➢ Promote available sites, encourage business retention and expansion to grow existing light industrial base with business recruitment/attraction techniques ➢ Diversify economic base to include professional services, corporate campuses,energy- related companies, and technology businesses ➢ Review existing programs, resources, and services and recommend improvements to increase competitive advantage and support goals ➢ Explore creative economic development collaborations ➢ Utilize Energy City and its tools to recruit new and assist existing businesses ACTION STEPS • Complete minimum of one BRE visit a month (manufacturers and top employers) • Promote available sites through exhibits at various expos(minimum 2x/yr.) • Utilize 171St FAST implementation plan to create a marketing piece for Nature's Edge Business Center and an annual redevelopment action plan to monitor progress of implementation • Partner with ERMU to identify applicable rebates for available city-owned property • Promote applicable incentives through direct mailings(minimum 3x/yr.) • Partner with Elk River Area Chamber of Commerce to coordinate Chamber goals with economic development goals through various implementation tasks • Utilizing economic development publications make contact with businesses looking to expand, relocate, etc. • Review Micro Loan Program and recommend improvements to increase competitive advantage and support goals • Partner with ECC and ERMU to explore a joint incentive to attract energy-related technology businesses • Partner with local schools and manufacturers to hold quarterly meetings to encourage students to explore a career in manufacturing through plant tours,youth apprenticeship programs and job shadowing • Launch a powerful website for the Elk River Economic Development Department • Demonstrate support for existing manufacturers and raise awareness regarding their impact on the community through various promotional activities and tours during Minnesota Manufacturers Week • Identify target industries (e.g. data centers,energy-related companies,etc.)and create specific marketing pieces to identify advantages and programs to assist in business recruitment • Host quarterly Manufacturers' Connection events with local manufacturers to promote financial incentives, resources and relevant topics to promote business retention and appreciation • Build a targeted industry and trade media databases and send press releases 6x per year.