Agenda - Economic Development Authority - 10/11/2012

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Economic Development Authority (EDA) 4. 6. Meeting Date: 10/11/2012 Submitted For: Patrick Brama By: Patrick Brama, Administrative Services Title: Business Retention & Expansion Program Introduction, Continued Background: Over the past few months the EDA has drafted five part plan for a business retention and expansion program for the City of Ramsey. That plan includes: (1) development of a business retention & expansion survey (2) develop a system of regularly visiting Ramsey Businesses (3) continue hosting community events (expo, business appreciation golf tournament, business networking) (4) continue to publish a spotlight business article in the Ramsey Resident (5) further investigate the economic gardening program with Anoka County Staff is regularly conducting parts three and four (publish business spotlight articles and host business related events). Moving forward, staff is in position to begin performing parts one and two (retention/expansion surveys and business visits). Step five will be considered in a subsequent EDA case. Observations: Staff plans on visiting four Ramsey businesses per month moving forward. Visits will be scheduled for the second and fourth Thursday of the month, at a time that's most convenient to the subject business. Attached to this case is a list of the first forty companies that will be contacted. Also attached is the proposed invite letter that will be sent to each target business. A goal for Staff is to complete site visits to said 40 companies by July 2013. As part of the visits, staff will be completing a business retention and expansion survey. Attached to this case is the proposed survey. Staff recommends keeping surveys simple, concise and direct. Long and detailed surveys typically result in low response rates and are unappealing situations for business owners (for example, asking a business 40 detailed questions may been seen as a burden; and will result in inconsistent findings). With EDA approval, Staff will send out business visit invite letters and begin scheduling meetings. Moving forward, Staff will include a case at each EDA meeting to review the last month's site visits and to draw attention to the upcoming month's visits. At that time, interested EDA members would be invited to 'sign-up' for site visits in which they would like to participate. Staff is expecting site visits to include the City's Management Analyst; and to begin, will also include the City's Economic Development Consultant, Mike Mulrooney. As schedules permit, the City Administrator will make an effort attend site visits when possible. As mentioned, site visits may also include EDA members. Funding Source: Regular job duties of City Staff. Staff Recommendation: Amend, and approve the proposed plan for a business retention and expansion program. Specifically, give staff direction on items one and two.