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(3 Stantec Project Update <br /> Project Update to EDA,August 17,2020 <br /> Elk River EDA Strategic Plan/193805023 <br /> Peer City Research <br /> We are in the process of scheduling meetings with community development staff in Forest Lake, Chaska and <br /> Oakdale for the peer city benchmarking research. City staff will participate in those conversations. The <br /> following are the draft interview questions. <br /> Understanding the City <br /> What are the strengths and weaknesses of[City] from an economic development perspective? (geographic <br /> and non-geographic assets) <br /> What are the economic drivers? <br /> What are the development trends? <br /> What factors have most shaped the economic environment? <br /> Understanding the Organization <br /> What is the organizational structure for the city's economic development function? <br /> What is the emphasis of the lead organization(s)? <br /> What have been your most important organizational accomplishments? <br /> What is your portfolio of programs and activity (by staff time, by budget)? <br /> What financial resources does the organization utilize to fund its programs and activities? <br /> What are the organization's key partnership relationships? <br /> Economic Development Practices <br /> What are your practices in the following area? How do you pursue these goals strategically? How do you <br /> align staff time and resources around them? <br /> • Business retention and expansion practices <br /> • Attracting new business development through 1) target industries, 2) land availability practices to <br /> support new industrial development. (Do they incentivize a certain target industry? "I want them to <br /> understand if they want something they have to pony up." Describe incentive programs) <br /> • Redevelopment practices (including incentives) <br /> • Fostering tourism <br /> • Promoting the City for new business/industrial development (including target industries) <br /> • Supporting vibrancy of downtown business district <br /> • Sports hub. What do you think about promoting a city as a sports hub? <br /> • Do you compete for workforce, businesses with another City? How do you handle that competition? <br /> What programs or activities do you think your City has done particular well? Why? <br /> What programs or activities do you think are in need of improvement? Why? <br /> Elk River <br /> Knowing what you do about Elk River, what economic development strategies or emphases would you <br /> suggest they explore? <br /> Calendar <br /> EDA Meeting, Monday, September 21. Report out to the EDA on all economic development research, <br /> including peer city research. Follow-up conversation about Highway 169 Redefine. <br /> jjgarl0Dpaditents\community development\economic development\eda\administrative\agenda\eda agenda packets\2020\08-17-2020\7.4 at1 strategic plan <br /> project update.docx <br />