|
Performance Measures & Goals for 2024
<br />Division:Economic Development
<br />Completed by:Brent O'Neil
<br />Date:July 10, 2023
<br />Performance Measure2020 Actual2021 Actual2022 Actual2023 Estimated2023 YTD2024 Projected
<br />BR&E Engagements incl.
<br />1847181120
<br />GrowMN
<br />Facilitate Site Visits to Elk River
<br />311424
<br />Commercial - Industrial permit
<br />value
<br />$50,000,000 $60,000,000
<br />$20,000,000 $58,000,000 $67,000,000 $27,500,000
<br />Net impressions from placed ads
<br />250,000250,000
<br />355,000310,000200,00080,000
<br />EDA Website Traffic
<br />6,0008,000
<br />5,0005,0005,5002,200 (thru q1)
<br />Division Goal
<br />Goal Objective/Task
<br />Continue to conduct BRE visits and to receive feedback on city factors impacting businesses. Provide technical
<br />Support Elk River's existing businesses through
<br />assistance as necessary and through feedback ensure economic development programs of the city are in line with
<br />relationship building, programmatic offerings, and high
<br />business needs and utilization. Develop and modify programming by utilizing feedback from the business community.
<br />quality city services
<br />Consider an annual or semi-annual forum of local businesses to complement BRE visits and foster additional outreach
<br />to the business community.
<br />Continue to market and promote the community. Make contact with prospective businesses and siting professionals
<br />and specifically highlighting the community's strengths. Market existing properties (EDA and private) and capture
<br />Attract new business development to Elk River to build
<br />opportunities for land development and assembly. Direct targeted focus on specific sectors, including those identified
<br />the city's economic vibrancy, job offerings and tax base
<br />in the EDA strategic plan: precision manufacturing, renewable energy, regional distribution, biomedial manufacturers,
<br />and health care services. Promote available properties on MNCAR and other marketing vehicles.
<br />Proactively support the community and businesses impacted by the 169 Redefine Project, and work with Together Elk
<br />Support impacted businesses and capitalize on River committee on implementation. Provide resources to address challenges created during the project and facilitate
<br />opportunities associated with the 169 Redefine Projectbusiness relocation within the city if necessary. Foster and promote new opportunities created from implementation of
<br />the project.
<br />Support beautification efforts, public art, events, and investments that attract visitors to Elk River. Direct investment in
<br />Consider new programs that promote the community
<br />certain programs may lead to enhanced community perception and increase in visitors to Elk River. Consider ways to
<br />image and support local tourism.
<br />boost hotel capacities in the city.
<br />Continue to work with Sherburne County, Elk River Area Chamber of Commerce, GreaterMSP, DEED, MN Marketing
<br />Partner with peer organizations
<br />Partnership, ERMU, and ISD 728. Consider regional marketing efforts.
<br />Keep a detailed and regularly-updated inventory of properties which may be suitable for development and likely
<br />Maintain an inventory of private and public properties
<br />available to promote to business prospects. In addition to utilizing the MNCAR system for actively available properties,
<br />available for future development
<br />also identify properties in coordination with owners that could be identified and shared with interested parties.
<br />Maximize and leverage city programs, MnDEED monies, Initiative Foundation, Sherburne County Revolving Loan
<br />Maintain financial incentives to enhance economic
<br />Fund and other financial tools and incentives. Evaluate programs for relevance and capacity to serve current
<br />development
<br />community needs; modify as necessary.
<br />Position the Together Elk River campaign/brand to Build off the momentum Together Elk River delivered throughout the COVID pandemic to support prevailing economic
<br />support ongoing community priorities and challenges.matters in the community such as workforce recruitment and the 169 Redefine project.
<br />Increase the number of companies actively manufacturing
<br />products or components of products directly or indirectly Work with ERMU, the environmental division, and Energy City Commission.
<br />used in renewable energy or energy efficiency by 2024
<br />
|