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Economic Development Authority (EDA) <br />Meeting Date: 12/03/2015 <br />Submitted For: Patrick Brama, Administrative Services <br />By: Patrick Brama, Administrative Services <br />Title: <br />Continued Discussion Related to Annual Ramsey EDA Business Expo <br />Purpose/Background: <br />PURPOSE <br />The purpose of this case is to consider the proposal below: <br />4. 2. <br />Combine the annual EDA Business Expo with the annual Happy Days Business Expo. This discussion was <br />listed on the City Council's adopted strategic plan (as originally suggested by staff). <br />BACKGROUND <br />From a preliminary perspective, this case was reviewed by the EDA in September. The EDA provided staff <br />direction to bring back a second case in the future; to include additional information (background, numbers, <br />proposal for Happy Days, etc.). Attached are the September EDA meeting minutes. <br />Notification: <br />NA <br />Observations/Alternatives: <br />NA <br />Funding Source: <br />NA <br />Recommendation: <br />Why is staff proposing the annual EDA Business Expo be dissolved? <br />(1) Considering the three annual EDA events (expo, golf tourney, networking), staff believes the business <br />expo provides the lowest value to the community (based on attendance and informal verbal feedback). <br />Attached to this case is the City's 2014 citizen survey. Page 11 depicts rankings of City sponsored events. <br />The EDA Business Expo ranks 6 of 7. <br />(2) Staff believes the EDA business expo is "losing momentum" for a two major reasons. <br />(A) through 2012, the EDA business expo was combined with the annual EPB Environmental <br />Expo --which provided various positive overlaps and momentum between both events (for customers <br />and vendors alike; and for coordination/ marketing). The EPB expo was dissolved in 2013. The EPB <br />decided to shift their resources to Happy Days. <br />(B) the competing Ramsey Happy Business Expo has seen greater success in attracting vendors and <br />patrons than the EDA business expo. <br />(3) The EDA Business Expo and the Happy Days Business Expo are City organized, executed, and funded <br />events. Both events serve similar businesses/vendors. Both events serve similar patrons. By eliminating one <br />of these events, the City is able to reallocate its limited resources (specifically human capital). Eliminating <br />