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ITEM ~ 9. <br />ver <br />MEMORANDUM <br />TO: Economic Development Authority <br />FROM: Annie Deckert, Economic Development Assistant <br />DATE: August 1 I, 2008 <br />SUBJECT: Retail Trade Analysis Presentation <br />BACKGROUND <br />At the May 12, 2008 EDA meeting, EDA authorized staff to enter into a contract with the U <br />of M Extension service to conduct a Retail Trade Analysis and Workshop and requested to <br />review the report before deciding to hold a community workshop. <br />An RTA report and workshop help a community. evaluate .the health of their retail sectors.. <br />It provides local sales data, comparing your community to others, which in turn helps assess <br />strengths and opportunities for our local businesses. This data specifies the actual retail <br />potential, identifying retail opportunities, as well as which businesses are drawing shoppers <br />away from our community. <br />DISCUSSION/ACTION REQUESTED <br />Tonight, U of M Consultant Claudia Cody, Regional Assistant Extension Professor, will be <br />presenting a brief overview of the RTA data. Staff would like the EDA to evaluate the <br />material presented and discuss how they would like to utilize this information. The EDA <br />could partner with the Chamber of Commerce to hold a community workshop or the data <br />could be used to assist in the EDA's marketing efforts (ie: put on website, sent out with <br />marketing materials, etc.) <br />