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Item 1 7.1. <br /> City of <br /> Elk -�-� <br /> River <br /> MEMORANDUM <br /> TO: Economic Development Authority <br /> FROM: Catherine Mehelich, Director of Economic Developmentfe <br /> DATE: May 13, 2002 <br /> SUBJECT: Marketing Activities Update <br /> Elk River Feature Article <br /> Attached is an article written by advertising consultant, Greta Wedell,which appeared in the <br /> February 2002 MN Real Estate Journal Leasing Guide. In addition, the Leasing Guide <br /> featured a full-page advertisement highlighting SoftPac and a quarter page advertisement, <br /> which featured the West Business Park property for sale. Also attached is a recent <br /> advertisement which featured incubator tenant,Bixby Energy Systems. This ad recently <br /> appeared in the Twin Cities Business Monthly publication. <br /> Prospects <br /> Staff has been working since January with brokers for the siting of a 250,000-square foot <br /> campus-style computer animation operation. The project is estimated to create up to 50 full- <br /> time employment positions paying between $12-38/per hour wages. The company desires a <br /> Summer 2002 construction. Staff has submitted a siting proposal for the company's <br /> consideration. <br /> Staff is also working with business incubator graduate, Cymbet, on their proposed <br /> expansion. <br /> • <br />