Agenda - Economic Development Authority - 04/10/2014

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Economic Development Authority (EDA) Meeting Date: 04/10/2014 By: Ted LaFrance, Administrative Services Title: Community Marketing Effort/Opportunity 4. 2. Purpose/Background: Early in 2014, the EDA approved the 2014 Ramsey EDA Work Plan. The Work Plan highlighted six (6) first priorities, one of which is Marketing the Community. Economic development research has shown that the most effective marketing techniques include; planned visits to corporate executives, internet/website development, and hosting special events. With that in mind, Staff has been in various conversations with our preferred broker, CBRE, and economic development/public finance consultant, Ehlers, in regard to working together to create a "fam tour" -- a fam tour is an organized tour of the community meant to familiarize outside parties on development/investment opportunities. Typically, a fam tour is organized to showcase communities for a select group of corporate site selectors/executive decision makers. Last year, MN DEED/Positively MN (Positively MN is a voluntary marketing arm/organization of DEED), alongside a number of other public and private partners sponsored a fam tour focused on the Metro, Rochester, Duluth, St. Cloud, and Mankato Positively MN is proposing organizing a fam tour highlighting the NW Metro; including Ramsey. In order for Ramsey to partake in the tour, Ramsey would need to be a member of Positively MN. There are 62 organizations involved in Positively MN. Additional material is attached for your review. Staff is of the opinion that the benefits outweigh the expenses in just the fam tour opportunity alone. It is noteworthy that many of the added benefits may require further financial investment (such as attending a trade specific conference or industry tradeshow). The cost of participating/becoming a member of Positively MN is $600/year. Staff views the investment of $600 as reasonable and productive given the 2014 EDA Work Plan and the Council's Strategic Plan. Staff, if approved by the EDA, intends to work alongside CBRE, Ehlers and Connexus Energy to organize a Ramsey specific event as a part of the fam tour. Specific details are not yet available on the fam tour. Staff is recommending participating in Positively MN upon hearing final word a fam tour is secured for the NW Metro and Ramsey's ability to directly showcase our community. Notification: Observations/Alternatives: Funding Source: EDA Professional Services Budget Recommendation: Staff is recommending participating in Positively MN upon hearing final word a fam tour is secured for the NW Metro and Ramsey's ability to directly showcase our community. Action: Motion to approve participating in Positively MN upon hearing final word a fam tour is secured for the NW Metro and Ramsey's ability to directly showcase our community. Pos MN Benefits Attachments