Agenda - Economic Development Authority - 11/14/2013

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(2) Prospect Updates Molin Concrete LAST UPDATE: NOVEMBER Molin Concrete is a pre -cast concrete panel manufacturer with locations in Ramsey and Lino Lakes. Over the past few years Molin has experienced significant growth, and expects the trend to continue for the foreseeable future. As the EDA may know, Molin's Ramsey location has remained vacant and unused for a number of years. Recently, Staff learned Molin Concrete is planning to re -open their Ramsey operations this winter —which will included a 10,000 square foot expansion and creation of 15-20 high quality jobs. Additionally, Molin has indicated they will be completing a second, significant, expansion to their facility in Ramsey next year (2014). Cullinan Riaaina LAST UPDATE: NOVEMBER Cullinan Rigging is a machinery moving and rigging business located in Ramsey's industrial park. Cullinan expanded their existing 40,000 square foot facility by 10,000 square feet this summer —and, expects to need additional space in the coming years. At this point, Cullinan is out of space for future expansion. Therefore, Staff will be working with Cullinan moving forward to find a long term solution for their facility in Ramsey. Diamond Graphics LAST UPDATE: NOVEMBER Diamond Graphics purchase a 4.8 acres City owned parcel for $410,000 in July 2013 for the purpose of expansion from their existing site located at 14280 Azurite St NW. Diamond Graphics would like to complete a 30,000 square foot expansion to their existing building by winter 2013. Diamond Graphics has gone through the site plan review process and has recently granted a building permit. Prospect Alpha LAST UPDATE: NOVEMBER A small sized Ramsey precision manufacturer is experiencing significant growth and is looking to expand at their existing location in 2014. However, due to size limitations of their existing site, this manufacturer is also looking for a long term solution. Staff is working with this prospect to provide options for expansion on their existing site as well as other locations in Ramsey. NOTE: Staff has worked with this prospect multiple times over the past few years. Prospect Beta LAST UPDATE: NOVEMBER A significantly sized and well known Ramsey manufacturing is in need of 10-20,000 square feet of warehouse space. Additionally, said manufacturer has previously expressed interest in a long term solution for their growing need for space. Staff is working with this prospect to provide potential solutions in Ramsey (including existing space and new build). Prospect Echo LAST UPDATE: OCTOBER 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.