8.0 EDSR 01-12-2009 - Laserfiche WebLink

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^ Develop and submit to the EDA a proposal for giving finder's fees or some other tSTpe of compensation to brokers who site clients on privately-owned industrial sites ^ Clearly communicate the existence of both incentive programs to the broker community ^ Develop abroker-oriented event that will attract brokers to the community to network and to see local industrial development site options It should be noted that the 2002-2004 action plan recommended meeting with Key Accounts three times per year. We believe that is unrealistic because the Key Account list has grown to 57 contacts and because most brokers would probably resist that level of contact. Based on comments from the brokers with whom we spoke, that frequency of meetings is probably unnecessary -and unwelcome. They are extremely busy and are usually only interested in meeting if there is a specific opportunity to discuss. Thus, the City will probably achieve better results if it will: ^ Keep brokers informed through marketing communications ^ Make periodic phone contacts with brokers about new opportunities ^ Host a broker event that will give brokers a reason to visit and pay attention to Elk River Strategy #3: Leverage Northstar Commuter Rail and Additional Differentiated Community Assets With Northstar Commuter Rail moving closer to reality every day, there's little need to belabor the point that it will be a significant asset to the City of Elk River. The many upbeat comments made by those we interviewed, as well as the positive response to the Northstar Business Park (specifically the almost immediate sale of three lots for development of 68,000 square feet), are proof enough. Admittedly, with initial plans for only one daily "reverse-commute" (east to west) commuter run, the immediate impact of Northstar for Elk River will not be dramatic. But service is likely to expand in the future, and there is akeady a highly positive perception of the potential impact. The question is how to most effectively leverage Northstar. One obvious way to do that is to tout Northstar at every opportunity. The Economic Development Division has done an effective job of doing that with regular Northstar updates in the News from the Hub newsletter. And, of course, naming a business park after Northstar was a shrewd move. To more fully leverage Northstar, we suggest that the City implement these additional tactics: ^ As has been mentioned, the City Web site is usually the first stop for economic development inquiries. However, information about Northstar is currently buried deep within the site. We suggest that the Northstar logo be displayed - or that Northstar at least be mentioned - on the City's home page, or at least the Economic Development Division home page. ^ Currently, there is no prominent information about Northstar in the Citv's hard copy package of economic development information. We recommend that a dedicated Northstar brochure or sell sheet be added to the pocket folder. ^ Take every opportunity to tout Northstar. Every Economic Development Division ad, direct mail effort, news release and communications effort should mention Northstar. ^ The City and EDA should advocate expanded Northstar service to Elk River 12