7.1. EDSR 09-19-2022 - Laserfiche WebLink

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Division: Completed by: Date: Performance Measure 2020 Actual 2021 Actual 2022 Estimated 2022 YTD 2023 Projected GrowMN Partnership Visits 18 Business Engagements (BRE)50 Prospect Engagements 36 Facilitate Site Visits to Elk River 3 1 4 2 4 Commercial - Industrial permit value $20,000,000 $58,000,000 $35,000,000 $56,000,000 $50,000,000 Net impressions from placed ads 355,000 310,000 350,000 110,000 250,000 EDA Website Traffic 5,000 5,000 5,000 2,700 5,200 Maintain financial incentives to enhance economic development Maximize and leverage city programs, MnDEED monies, Initiative Foundation, Sherburne County Revolving Loan Fund and other financial tools and incentives Position the Together Elk River campaign/brand to support ongoing community priorities and challenges. Build off the momentum Together Elk River delivered throughout the Covid pandemic to support prevailing economic matters in the community such as workforce recruitment and the 169 Redefine project. Increase the number of companies actively manufacturing products or components of products directly or indirectly used in renewable energy or energy efficiency by 2024 Work with ERMU and Environmental Departments Partner with peer organizations Continue to work with Sherburne County, Elk River Area Chamber of Commerce, GreaterMSP, DEED, MN Marketing Partnership, ERMU, and Elk River Schools. Maintain an inventory of private and public properties available for future development Keep a detailed and regularly-updated inventory of properties which may be suitable for developent and likely available to promote to business prospects. In addition to utilizing the MNCAR system for actively available properties, also identify properties in coordination with Consider new programs that promote the community image and support local tourism. Support beautification efforts, public art, events, and investments that attract visitors to Elk River. Direct investment in certain programs may lead to enhanced community perception and increase in visitors to Elk River. Support Elk River's existing businesses through relationship building, programmatic offerings, and high quality city services Continue to conduct BRE visits, and to receive feedback on city factors impacting businesses. Provide technical assistance as necessary and through feedback ensure economic development programs of the city are in line with business needs and utilization. Support businesses through stated needs such as workforce development and recruitment. Attract new business development to Elk River to build the City's economic vibrancy, job offerings and tax base 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 assembly. Direct targeted focus on specific sectors, including those identified in the EDA strategic plan: precision manufacturing, renewable energy, regional distribution, biomedial manufacturers, and health care services. Promote available properties on MNCAR and other marketing vehicles. Support impacted businesses and capitalize on opportunities associated with the 169 Redefine Project 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, City Communications team, and MN/DOT. Provide resources to address challenges created during the project and facilitate business relocation within the city if necessary. Foster and promote new opportunities created from implementation of the project. Performance Measures & Goals for 2023 Economic Development Brent O'Neil Sept. 16, 2022 Division Goal Goal Objective/Task