9.0. EDSR 03-11-2002 - Laserfiche WebLink

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• Work to increase the labor pool. (1) • Provide residents with a community center and a fine dining facility. (1) • Support light rail. (1) B. Expansion Plans Seven of the business owners surveyed plan to expand their businesses. Most prefer to expand within the City of Elk River but are willing to relocate if a better financial package if offered by another nearby community. One business owner feels that the business climate of nearby communities is comparable to Elk River due to accessibility issues to the Minneapolis/St. Paul metro area. However, another business owner made the comment that Elk River's reputation in itself would be good reason for his company to sustain an Elk River address. Staff Recommendations One of the action steps of the 2000-2003 Economic Development Strategic Plan mentions the creation of an economic development newsletter. This action step was implemented in the summer of 2001 when a Development Update newsletter was sent to Elk River's industrial • firms. One business owner surveyed mentioned that the newsletter was much appreciated since he likes to keep updated on the economic development within the City of Elk River. Staff recommends that future newsletters be provided to Elk River's industrial companies since this is an easy way to keep the communication lines open on a periodic basis. Staff recommends that a new format be used to conduct the BRE Survey. During each visit, business owners seemed more comfortable casually conversing rather than answering the fourteen technical questions currently used in the BRE Survey. Perhaps a three-question qualitative survey would suffice for future BRE surveys. The three questions would cover industry trends, the labor force, and company suggestions, similar to staff's past surveys. Since the EDA is a decision making body, unlike staff, more business owners might participate in future BRE surveys if they received a letter from the EDA when staff begins work on each future survey. Although the 2000-2003 Strategic Economic Development Plan makes it apparent that the EDA is committed to business retention and expansion, perhaps a letter from the EDA, reiterating its commitment to business retention and expansion would provide industrial companies with a more personalized sense that their voices will be heard. Finally, three business owners discussed the importance of providing general education to the public on the importance of industrial businesses. Staff recommends that economic development marketing efforts include communication pieces that educate the public on the • importance of industrial companies. Perhaps this would help industrial companies feel more