8.0 EDSR 01-12-2009 - Laserfiche WebLink

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inquiries have been managed effectively, and EDA members, local business leaders and other partners have been enlisted to aid in sales efforts. It was also recommended in the 2002-2004 Action Plan that the number of Key Accounts (10 as of August 2002) be expanded annually, and that has been accomplished. The number of key accounts currently stands at 57. A broader list of 524 contacts includes those Key Accounts plus several hundred additional prospects, most of which were identified by renting lists from Minnesota Technology. As we look ahead to 2007-2009, we suggest these tactics: ^ Define the parameters for "small to medium" and "medium to large," enabling the City to more easily identify and obtain additional prospect names to include in its marketing efforts ^ Reexamine the Key Account and other prospect lists to determine whether they sufficiently include the City's expanded target: medium to large light industrial manufacturers ^ If they do not, obtain contact information for additional medium to large prospects To place more emphasis on assisting existing manufacturers, we recommend these tactics: ^ Continue to provide -and possibly expand -programs that benefit existing manufacturers, such as financing and training programs, and work to increase participation in those programs ^ Continue to host and enhance the annual Manufacturing Week recognition event ^ More strongly communicate the City's commitment to existing manufacturers by such things as adding a dedicated "Tools for Existing Businesses" link to the Economic Development Division home page on the City's Web site, and increasing the frequency of Economic Development Division marketing and communications contacts with existing manufacturers Strategy #2: Increase Marketing Efforts Targeting Industrial Brokers As stated above, the secondary target market of industrial brokers and owner's reps/site selectors is an important and influential group. They are knowledgeable about sites and requirements, and influential in client decisions. This is especially true regarding medium to large light industrial users - a market we hope to more effectively target. But it is difficult to reach and build relationships with brokers, and they have little or no incentive to promote a city unless they have property listings in the community. Although the EDA Marketing Committee and City Staff had little enthusiasm for the idea of hiring brokers directly to market City-owned land, they recognize their influence and information value, especially for medium to large light industrial users. Thus the City should develop more effective strategies for gaining the attention and support of the broker community. We suggest these tactics: ^ Identify the five to 10 most`knowledgeable and influential industrial brokers working in the Northwest Metro ^ Ensure that those brokers are part of the City's Key Account list ^ Continue to follow through on the established Key Account strategy, including being responsive to broker inquiries, networking with them periodically and maintaining ongoing contact ^ Continue to compensate brokers for bringing users to City-owned industrial sites 11