Agenda - Economic Development Authority - 06/09/2011

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Why Ramsey • In terms of population growth over the past ten years, Anoka County grew by 11 % and the city of Ramsey grew by 28%. This growth rate represents the highest rate of growth of any city in Anoka County with a population of at least 10,000. The city of Ramsey's median household income in 2009 was $78,418 versus the statewide average of $55,616. Ramsey has one of the highest household incomes within Anoka County. Employers: • Anoka County has the highest percentage of employees working in manufacturing jobs within the seven county metropolitan area. Approximately 23% of males and 13% of female residents within the city of Ramsey work in manufacturing industries. Fully 13 of the top 15 largest private employers within the city are manufacturers. This confirms Ramsey's support for manufacturers within the city. Life Fitness is the largest employer with about 500 workers, followed by Vision Ease with 400 and Connexus Energy with 230. Proposed Site: • The site being proposed for Metal-Matic is city -owned and is used by Bury & Carlson, a processor of aggregates. This site is 19.88 acres and will allow for a total facility build -out of approximately 300,000 square feet. The site is also properly zoned and surrounding neighbors support and complement Metal- Matic's proposed use. • The city of Ramsey proposes to sell the Bury & Carlson site to Metal-Matic. The city currently leases the land to Bury & Carlson. The city of Ramsey purchased the property from Bury & Carlson for $1,756,400 in March of 2008. With early termination costs of the lease amounting to $446,000, the city will have invested around $2.2 million into the 19.88 acre parcel, or approximately $2.54 per sq. ft. To facilitate Metal-Matic's expansion, staff will recommend setting up a TIF district to make the site extremely cost effective. Ramsey is a great place to call home. 21