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i>"( .,,, <br /> Ecilofk q <br /> ....„.......- <br /> Re u e st for Action <br /> River <br /> To Item Number <br /> Economic Development Authority 6.2 <br /> Agenda Section Meeting Date Prepared by <br /> General Business October 17,2016 Amanda Othoudt, EDD <br /> Item Description Reviewed by <br /> Director's Report Cal Portner, City Administrator <br /> Reviewed by <br /> Action Requested <br /> Information presented for discussion only in effort to keep the EDA updated development activity. <br /> Background/Discussion <br /> BUSINESS VISITS <br /> 19 Business visits have been completed to date. Staff met with Paul Meschke from Elk River Machine <br /> along with Zack Carlton,Nate Ovall,Debbie Rydberg,and Larry Toth. The group met with Paul <br /> Meschke the new President and Chris Fairchild the Controller. Elk River Machine employs between 70- <br /> 80 FT and has seen a 50%increase in revenues over the past 7 months resulting in the need to purchase <br /> additional equipment. They plan to invest approximately$2 milling in new equipment which includes <br /> four new CNC machines and a large horizontal machine center. By purchasing the new equipment, they <br /> will be able to add an additional 20-25 FT employees. <br /> Four more retention visits are scheduled. Please RSVP to Colleen and let her know if you are able to <br /> attend. <br /> Fairibault Foods,Tuesday,November 29, 2016 10:OOAM— 11:30AM <br /> Abra Autobody,Tuesday,November 29, 2016 2:00 PM-3:30 PM <br /> The Shop,Wednesday,December 14, 2016 10:30 AM-12:00 PM <br /> Energy City Solutions,Tuesday,December 13,2016 1:30 PM-3:00 PM <br /> MISCELLANEOUS <br /> Economix Event <br /> I attended the second annual Economix Event in October which drew over 26 site selectors from all <br /> over the country and companies that represent different industry clusters. I met with a representative <br /> from Nodecom, they are managing the redevelopment of the former Federal Reserve building in MPLS, <br /> a 560,000 square foot facility and siting data center clients at that location. They expressed a lot of <br /> interest in the county's shovel ready data center site. We are working with Greater MSP to help pay for <br /> travel accommodations to send this representative to Elk River. <br /> Organization for International Investment Event <br /> I will be partnering with the MN Marketing Partnership to attend an event hosted by the Organization <br /> for International Investment (OFII). This event attracts c-level executives from all over the country and <br /> abroad. We will work on specifically marketing our four targeted industries at this event. <br /> rERED ® r <br /> NATURE <br />