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Prospect Echo A quickly growing, successful, Ramsey manufacturer has expressed interest in relocating their operations to a new facility. Said manufacturer has posted a 20% increase in sales each year for the past five years, employs 196 people in Ramsey, employs 52 people in a different metro city occupies about 110,000 square feet in Ramsey and about 100,000 square feet in a different metro city. The prospect is proposing a new 220,000 square foot facility; which would consolidate their two facilities and provide room for expansion. With that, the prospect would relocate 52 employees to Ramsey and create an estimated 75 -80 jobs within two years; over 300 jobs total (retained, relocated and created). Staff is working with prospect Echo now; and has made development proposal. Additionally, Staff has provided options for expansion at their existing Ramsey location; along with lease options. The prospect is reviewing opportunities outside of Ramsey as well. (3) Business Retention & Expansion Program Due to workload levels, Staff has not conducted proactive business retention and expansion visits since January. Staff anticipates time to be available to conduct business visits either when an Economic Development Manager is hired or following the EDA golf tournament and Happy Days. Events, admin tasks, responding to prospects, 167/47 and the old municipal center and the industrial park projects are taking priority. NOTE: staff has conducted 4 -6 'reactive' business visits since January. (4) Economic Development Manager Position The City held interviews for the new Economic Development Manager position on June 24. Three candidates were selected for interviews. One candidate ended up withdrawing; therefore, two candidates were interviewed. At the conclusion of interviews, the review board unanimously agreed candidates did not fit the Economic Development Manager position. The City Council directed Staff to utilize a 'head- hunter' service to recruit this position on July 9. The City entered into a contract with Springsted Executive Search to fill the vacant position. The first review of applications will take place in late September. If a qualified applicant is selected, it is estimated the new position will begin on November 1. (5) 8020 147th Ave NW, Nordvick Property The City of Ramsey is in the process of improving the existing Highway 10 /Armstrong Boulevard intersection to a highway overpass /interchange. Part of this process required the City to purchase privately owned land to dedicate for future right of way (ROW). The EDA became involved in this process when they assisted the purchase of a property located at 8020 147th Ave NW ( "Subject Property "). A small portion of the Subject Property will be dedicated for future ROW. The larger remaining portion was intended to be used for economic development purposes. The property located at 8020 147th Ave NW contained two commercial buildings; along with various other site improvements. In order to prepare the site for future development, the EDA contracted with