2. EDSR 08-15-2022 - Laserfiche WebLink

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Performance Measures & Goals for 2023 Division:Economic Development Completed by:Brent O'NeilDRAFT FOR WORKSHOP Date:August 10, 2022 Performance Measure2020 Actual2021 Actual2022 Estimated2022 YTD2023 Projected GrowMN Partnership Visits 18 Business Engagements (BRE) 50 Prospect Engagements 36 Facilitate Site Visits to Elk River 31424 Commercial - Industrial permit value $20,000,000 $58,000,000 $35,000,000 $56,000,000 $50,000,000 Net impressions from placed ads 355,000310,000110,000 350,000250,000 EDA Website Traffic 5,0005,0001250 (thru Q1) 5,0005,200 Division Goal Goal Objective/Task Continue to conduct BRE visits, and to receive feedback on city factors impacting Support Elk River's existing businesses through businesses. Provide technical assistance as necessary and through feedback ensure relationship building, programmatic offerings, and high economic development programs of the city are in line with business needs and utilization. quality city services Support businesses through stated needs such as workforce development and recruitment. Continue to market and promote the community. Make contact with prospective businesses and siting professionals and specifically highlighting the community's strengths. Market existing properties (EDA and private) and capture opportunities for land development and Attract new business development to Elk River to build assembly. Direct targeted focus on specific sectors, including those identified in the EDA the City's economic vibrancy, job offerings and tax base strategic plan: precision manufacturing, renewable energy, regional distribution, biomedial manufacturers, and health care services. Promote available properties on MNCAR and other marketing vehicles. Proactively support the community and businesses impacted by the 169 Redefine Project. Set up a mechanism for communication among businesses in conjunction with Public Works, Support impacted businesses and capitalize on City Communications team, and MN/DOT. Provide resources to address challenges created opportunities associated with the 169 Redefine Project during the project and facilitate business relocation within the city if necessary. Foster and promote new opportunities created from implementation of the project. Support beautification efforts, public art, events, and investments that attract visitors to Elk Consider new programs that promote the community River. Direct investment in certain programs may lead to enhanced community perception image and support local tourism. and increase in visitors to Elk River. Continue to work with Sherburne County, Elk River Area Chamber of Commerce, Partner with peer organizations GreaterMSP, DEED, MN Marketing Partnership, ERMU, and Elk River Schools. Keep a detailed and regularly-updated inventory of properties which may be suitable for Maintain an inventory of private and public properties developent and likely available to promote to business prospects. In addition to utilizing the available for future development MNCAR system for actively available properties, also identify properties in coordination with Maintain financial incentives to enhance economic Maximize and leverage city programs, MnDEED monies, Initiative Foundation, Sherburne developmentCounty Revolving Loan Fund and other financial tools and incentives Build off the momentum Together Elk River delivered throughout the Covid pandemic to Position the Together Elk River campaign/brand to support prevailing economic matters in the community such as workforce recruitment and support ongoing community priorities and challenges. the 169 Redefine project. Increase the number of companies actively manufacturing products or components of products Work with ERMU and Environmental Departments directly or indirectly used in renewable energy or energy efficiency by 2024