Laserfiche WebLink
ITEM # 6. <br /> City of <br /> Elk -�-1 <br /> River <br /> MEMORANDUM <br /> TO: Economic Development Authority <br /> FROM: Heidi Hall, Economic Development Assistant Or <br /> DATE: August I I, 2003 <br /> SUBJECT: Strategic Industrial Marketing Activities Update <br /> Attachments <br /> • MN Community Capital Fund flyers <br /> • Letter with enclosures from MN Community Capital Fund CEO <br /> • Technical Assistance & Operations Consulting Program Criteria&Application <br /> • Technical Assistance& Operations Consulting Program Press Release,July 24,2003 <br /> • • Event Flyer, "Responding to Foreign Competition", Manufacturers Alliance Web Site, <br /> August 2003 <br /> I. Product Offering Strategy <br /> The Marketing Committee discussed the industrial land issue at their May 6,June 3, and July <br /> 22 meetings. Staff and Sid Inman of Ehlers &Associates met with four of the five property <br /> owners to discuss a competitive marketing strategy for industrial development in the City of <br /> Elk River. The Director of Economic Development has provided a separate report <br /> regarding this issue. <br /> I I. Competitive Strategy <br /> The City of Princeton has developed a new 38 acre industrial park in the city's southwest <br /> corner, owned by the Princeton Economic Development Authority. Incentives being <br /> offered by the City of Princeton Economic Development Authority are tax increment <br /> financing,land write downs,industrial revenue bonds, economic development loan program, <br /> assistance in financial packaging,revolving loan funds from the Initiative Foundation and <br /> East Central Regional Development Commission. Staff believes the new industrial park in <br /> Princeton may impact Elk River's competitiveness for industrial development. <br /> I I I. Key Account/Lead Generation Strategy <br /> Staff continues to work with key account MN Technology on the partnership project <br /> mentioned below under the Public Relations Strategy section. <br />