Agenda - Economic Development Authority - 01/09/2020

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Economic Development Authority (EDA) 4. 2. Meeting Date: 01/09/2020 By: Sean Sullivan, Community Development Title: Authorize 2020 Annual Ramsey EDA Business Expo Budget Purpose/Background: The purpose of this case is to provide an update and to get authorization for an EDA allocation for the 2020 Ramsey EDA Business Expo. Annually, the Ramsey EDA sponsors a Business Expo. The purpose of this annual event is to promote Ramsey's businesses (typically retail and service industries) to the community. In the past, this event typically drew 200-300 people and had 45-50 business exhibitors. Last year the event was moved to Adrenaline Sports Center and attendance increased to 500-600 people with 61 exhibitors. The logistical set-up was also different as the EDA contracted with an event planning organization to prepare the booths, pipe and drape. In 2019, the EDA allocated $7,000 for the event and resulted in $586.41 net revenue after all expenditures. Planning has commenced for the 2020 Expo to be held on April 4, 2020 and staff is working on ways to get the best return on investment from EDA expenditures while maintaining a quality event. To maximize event configuration, Staff is proposing 59 booths for 2020. The EDA previously directed staff to keep the event at Adrenaline on April 4, 2020 based on the success of the venue in 2019. Staff received two (2) quotes for the event materials and setup and both quotes were less than last year's vendor. In response, Staff recommends reducing the registration fee for Ramsey Businesses from $60 to $50. Notification: Notification is not required. Observations/Alternatives: Below is a status update on a number some of items related to this event (a project budget is attached for review): • Venue: Adrenaline Sports Center ($800 estimated) • Equipment Rentals and Pipe, Drape and Electricity: tables, chairs and drapes ($2,160 estimated) • Event Flyer and Registration: Not created yet (No cost, internal) • Proposed Base Registration Fees for 2020: Ramsey Business -$50 (Reduced from $60), Non -Ramsey Business-$75, Electricity-$15 (dependent on event cost, could be lowered) • Preference given to Ramsey area retail, service, restaurant and other industries. Craft / Merchant vendors and Non -Ramsey businesses will be placed on a waiting list. • Giveaway: TBD, Last year we did Ramsey Bags ($1,000 estimated) • Entertainment: Balloon Artist ($1,100 estimated) • Traffic Sign Covers ($300) • Supplies ($100) • Marketing: • Mobile Sign Boards (4) - ($800.00) (One time Purchase) • Express Signs (5) + PW Signs ($800.00) • Color Full Page Color Flyers - Need to design (Last year's Flyer attached) • Anoka County Shopper Ad Space ($200.00) • Anoka County Union Article • Ramsey Resident, Facebook, City Website The EDA allocated $7,000 for last year's event. Staff is proposing a $6,000 allocation for the 2020 Expo, a