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2020 IN REVIEW <br />2020 was like no other! We all learned the meaning of <br />pivot, and Elk River did. No COVIDI9 pandemic could <br />stop us it was a productive year and we achieved <br />several major accomplishments: <br />EDA STRATEGIC PLAN <br />We started 2020 with a request for proposals to facilitate <br />an EDA Strategic Plan. Eleven proposals were received <br />and four companies were interviewed virtually. Stantec <br />was selected assist with the development of a strategic <br />plan to guide the EDA over the next 5-10 years. After <br />several community and peer city conversations, the EDA <br />will approve and start 2021 off with a plan and goals to <br />accomplish in the next 5-10 years. <br />BUSINESS RETENTION AND <br />EXPANSION <br />Pivoting at its finest, economic development staff completed 18 BR&E visits; four in person, three by <br />Zoom virtual meetings, seven through an online survey, and four by telephone. The year started with four in <br />-person visits to local banks to discuss available financial incentives the EDA and HRA. Several businesses <br />were able to pivot and thrive during the initial start of the pandemic. Flowers Plus, a local floral and retail <br />business saw over a 75% increase in sales. The owner indicated the increase desire for people to stay <br />connected with flowers and notes. One manufacturer saw over a 110% increase in his medical device sector <br />sales citing a growing need for labeling and tracking. <br />Q13 Indicate type of facility (please check all that apply). <br />Ansrered. 6 Skipped: i <br />6rarroh <br />Mtributlon <br />neadQuarterq 9 <br />11onn-a <br />buelma <br />Manufa r' <br />Fr4echise <br />R&D <br />Sala <br />OAWRetml <br />UP- W. W) <br />06(clove <br />ecaBy) <br />0% 10% 20% 3D% 40% 50% e0% 70% 60% 90% 100% <br />M" w 1VT V" <br />Z <br />City of Elk River <br />Economic Development Authority <br />