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• ELK RIVER ECONOMIC DEVELOPMENT <br /> TECHNICAL ASSISTANCE & <br /> OPERATIONS CONSULTING PROGRAM <br /> CRITERIA <br /> July 2003 <br /> I. PURPOSE <br /> The Economic Development Authority for the City of Elk River (EDA) recognizes the need <br /> and importance to retain and recruit industrial companies within the City of Elk River. The <br /> purpose of the Technical Assistance & Operations Consulting Program is to provide a <br /> technical assistance incentive to qualifying existing and prospective Elk River manufacturers <br /> to encourage company efficiency and productivity. <br /> II. CRITERIA <br /> The following criteria will be used to determine the eligibility of applicants for the Technical <br /> Assistance &Operations Consulting Program: <br /> A. Retail/service and start up businesses will not be considered. <br /> B. Companies must be involved in product manufacturing/assembly or be high <br /> technology-service related. <br /> S C. Companies demonstrate growth potential. <br /> D. Companies must report the following impact(s) resulting from the Technical <br /> Assistance &Operations Consulting Program: <br /> • Sales increase <br /> • Inventory cost savings <br /> • Labor cost savings <br /> • Material cost savings <br /> • Other cost savings <br /> • Capital investments <br /> • Other investments <br /> • Number of jobs created <br /> • Number of jobs retained <br /> E. Companies must commit to relocating and/or expanding in the City of Elk <br /> River via quality job creation/retention, new equipment purchase and/or new <br /> construction. <br /> F. Companies must pay 25% of the total cost of technical services provided <br /> through the Technical Assistance &Operations Consulting Program. <br /> G. No more than $2,000 in technical services will be provided to a company <br /> 5 through the Technical Assistance& Operations Consulting Program. <br /> III. APPLICATION PROCESS <br /> The Economic Development staff will review applications for admittance into the Technical <br /> Assistance &Operations Consulting Program. <br />