EDSR MEMORANDUM 01-22-1997 - Laserfiche WebLink

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,-(/ AK ty of ' MEMORANDUM idli R. iver TO: Economic Development Authority FROM: Paul T. Steinman, Director of Economic Development DATE: January 14, 1997 SUBJECT: Business Incubator Prospect Presentations MAS TECHNOLOGIES A special meeting of the EDA for the purpose of hearing a product presentation by MAS Technologies has been scheduled for 6:30 p.m., Wednesday, January 22, 1997, at the Furniture and Things building, 16820 Highway 10. MAS Technologies is a Minnesota company formed in 1992 to develop and market test instrumentation within the • product packaging field. MAS stands for Material Analysis Systems. Some of the company's current major clients include Mobil Corporation, Uncle Ben's, General Mills, Baxter Health Care, and numerous others. The company writes its own proprietary software used in its current systems and intends in this next phase to develop a number of new products through its technology. The company is currently in the process of raising approximately $1 million to expand into its next phase of product development. The offices of MAS Technologies are currently located in Zumbrota, Minnesota and access to the Anoka/Sherburne County Capital Fund is one reason why the owners have indicated a willingness to possibly relocate their operations to the Elk River business incubator facility. II. MEDICORD, INC. Staff is also planning a product presentation for MediCord, Inc., for Wednesday, January 29, 1997, from 3:30 to 6:30 p.m. in the City Hall Conference Room. As was discussed at the EDA meeting on January 13, the company has requested that this presentation be organized so that the press and other public individuals are not required to be • notified. Therefore, the product presentation will be held at 3:30 p.m., 13065 Orono Parkway • P.O. Box 490 • Elk River, MN 55330 • (612) 441-7420 • Fax: (612) 441-7425