7. EDSR 08-13-2007 - Laserfiche WebLink

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Item # 7 fiver MEMORANDUM TO: Economic Development Authority FROM: Heidi Steinmetz, Assistant Director of Economic Development ~~ DATE: August 13, 2007 SUBJECT: Strategic Industrial Marketing Activities Update This report is formatted based on the 2007-2009 Strategic Industrial Marketing Plan, adopted by the EDA in September 2006. Marketing activities may not occur monthly for each of the seven strategies. Strategy #I: Broaden the Primary Target Market, which includes the tactic to place more emphasis on assisting existing manufacturers. • A "Tools for Existing Businesses" link was added to the Economic Development page of the City's Website. • Per recent Finance Committee discussion, a direct mail piece promoting the Micro Loan Fund will be sent to Elk River manufacturers and area bankers. • As in past years, staff will co-sponsor this year's Manufacturing Week event with the Chamber of Commerce. The event will be held in October. • Business Retention & Expansion (BRE) visits were held in June with Cymbet Corporation and Sportech and in July with Elk River Machine Company. • Wolf Marketing & Media is currently reexamining the City's mailing list, which includes "Key Accounts" and other prospect lists, to make sure the list sufficiently reflects the City's expanded target: medium to large light industrial manufacturers. Strategy #2: Increase Marketing Efforts Targeting Industrial Brokers There is no new information to report. Strategy #3: Leverage Northstar Commuter Rail and Additional Differentiated Community Assets The Northstar logo and link was added to the top of the Economic Development page of the City's Website. A news release featuring downtown redevelopment activities was released on June 14, 2007.