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Strategic Industrial Marketing Activities Report <br /> December 13,2004 EDA Meeting <br /> Page 3 of 3 <br /> • Handles Tax Abatement function efficiently/effectively <br /> • Advocate for critical infrastructure important to existing companies & <br /> competitiveness (bridges,improved connections to Twin Cities, St. Cloud airport) <br /> • Maintains basic website with referral to communities <br /> • Facilitates county wide events such as Money Breakfasts <br /> • Conducts business retention visits in areas of the county without active business <br /> retention program <br /> Staff plans to attend the second strategic planning session,which SCEDA plans to schedule <br /> for sometime in January 2005. <br /> VII. Business Retention Strategy <br /> 2004 Business Retention and Expansion (BRE) Visit Summary <br /> The attached 2004 BRE schedule indicates details of the below summary: <br /> • The 2004 BRE visit schedule included 19 Elk River manufacturers <br /> • 7 meetings conducted <br /> • 5 BRE visits conducted <br /> • 5 companies did not respond <br /> • 1 company was not interested in participating <br /> • The remaining 1 visit is scheduled for mid-December <br /> • General comments received during the five BRE visits are listed below: <br /> • Traffic flow/congestion is a concern <br /> • The City should be flexible on zoning/planning issues <br /> • Finding reliable, unskilled workers is an issue <br /> • Reasonable taxes and Elk River's competitiveness with other communities is very <br /> important <br /> • Global competitiveness in the manufacturingsector is a concern <br /> p <br /> Staff is working on the 2005 BRE schedule,which will include Elk River manufacturers who <br /> were not contacted in 2004. <br /> MN Fabrication&Machine Micro Loan <br /> The balloon payment on MN Fabrication &Machine's December 2001, $50,000 Micro Loan <br /> is due on December 31, 2004. The company is eligible for a two-year extension at a market <br /> rate of interest and has recently submitted the necessary documents and processing fee for <br /> the extension request. <br /> Due to the timing of the request, staff anticipates that the Finance Committee will review the <br /> request in early January 2005, followed by EDA consideration at its January 10, 2005 Regular <br /> meeting. <br /> • <br />