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ITEM # 5. <br /> City of <br /> Elk <br /> River <br /> MEMORANDUM <br /> TO: Economic Development Authority <br /> Heidi Steinmetz, Assistant Director of Economic Development -1/6FROM: e <br /> DATE: September 12, 2005 <br /> SUBJECT: Strategic Industrial Marketing Update <br /> I. Product Offering Strategy <br /> Northstar Business Park Update <br /> There is a separate memo regarding this issue. <br /> • I I. Competitive Strategy <br /> There is no new information to report. <br /> III. Key Account/Lead Generation Strategy <br /> Staff has received three inquiries within the last month, two of which may request financial <br /> assistance from the EDA in coming months. <br /> IV. Promotions &Advertising Strategy <br /> Economic Development ads continue to appear in The Business Journal,The Leasing <br /> Guide, the Manufacturers Alliance newsletter and Finance&Commerce Magazine. <br /> V. Public Relations Strategy <br /> Technical Assistance Program <br /> In May 2003, the EDA committed a$5,000 match to a grant provided to the EDA by the <br /> Initiative Foundation to implement a two-year partnership program with Minnesota <br /> Technology, Inc. (MTI). The program offers manufacturing companies up to a $2,000 grant <br /> for technical assistance services, such as plant layout assistance or Lean manufacturing <br /> training. Applications are reviewed and approved by staff. <br /> Most recently,Elk River Machine received a$2,000 Technical Assistance Program grant for <br /> strategic planning assistance provided by MTI. <br /> The two-year grant period with the Initiative Foundation ended on May 31st but staff <br /> • requested and received an extension until the end of this year. <br />