Agenda - Economic Development Authority - 08/02/2012

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Economic Development Authority (EDA) 4. 3. Meeting Date: 08/02/2012 Submitted For: Patrick Brama By: Patrick Brama, Administrative Services Title: Business Retention & Expansion Program Introduction, Continued Background: This case was originally brought forward to the EDA on July 12. At the July EDA meeting, Karen Skepper from Anoka County briefed the EDA on the concept of a business retention and expansion strategy known as Economic Gardening. Furthermore, staff introduced a number of common business retention and expansion strategies. The purpose of this case it to provide answers to questions the EDA had for Mr. Skepper and to begin developing a strategy for the City of Ramsey's business retention and expansion program. Observations: Regarding the questions raised by EDA members about the County HRA/EDA/Economic Gardening at the July EDA meeting, please review the attached Q&A from Anoka County. Regarding the development of a business and retention program in the City of Ramsey, below is a list of common strategies used by other communities: • Surveys • Meetings with local businesses • Community events (fostering pride/networking within local economy) • Publications (promoting businesses/fostering pride in local economy) • Removing local obstacles (i.e. legal/physical/social) • Reduce the cost of doing business • Enhance infrastructure used by businesses • Economic gardening Funding Source: Will be determined in subsequent discussions. Staff Recommendation: Staff is proposing the EDA consider the following as an action plan for the Ramsey business retention and expansion program. (A) development of a business retention & expansion survey (annual or bi-annual) (B) develop a system of regularly visiting Ramsey Businesses (C) continue hosting community events (expo, business appreciation golf tournament, business networking) (D) continue to publish a spotlight business article in the Ramsey Resident (E) further investigate the economic gardening program with Anoka County NOTE: with EDA direction, Staff will begin working on items A/B/E and continue working on items C/D. EDA Action: Provide staff with preliminary feedback regarding the recommendation included in this case. Attachments