Agenda - Economic Development Authority - 01/14/2021

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Economic Development Authority (EDA) Meeting Date: 01/14/2021 Submitted For: Sean Sullivan, Community Development By: Sean Sullivan, Community Development 4. 6. Title: Receive 2020 Business Retention and Expansion Presentation Purpose/Background: The purpose of this case is to receive the attached report/information on the 2020 Business Retention & Expansion Program with a focus on Business Visits/Surveys. The 2020 goal was to make 30 business visits. In 2020, 19 formal business visits/surveys were conducted but over 100 semi -formal business contacts/communication were made. Due to the Pandemic, many formal visits were conducted via phone. Staff met with many other businesses about topics such as pandemic assistance, Highway 10 planning and the City grant program. The attached report/presentation is summary data from all the formal visits in 2020 as well as a brief summary of the City of Ramsey Business Assistance Programs implemented due to the pandemic. Many of the 2020 targeted businesses visits did not occur due to their busy schedules and the pandemic. Staff and some businesses found phone visits convenient and staff is willing to extend this for businesses that would prefer that option in the future. These visits are a good way to strengthen relationships with businesses. Notification: Notification is not required. Observations/Alternatives: See attached report for detailed observations and 2021 recommendation. Staff is recommending the following for 2021: • Balance Between Retail and Industrial Businesses Formal Visits • Follow-up With all Businesses that received City Grants • Goal of 50 Formal Visits in 2021 Due to Pandemic and Impacts (Big Increase) • Both Phone, Virtual and In -Person Visits (Efficiency) • Continued efforts to connect businesses with available business assistance programs Funding Source: This case is being handled as part of normal Staff duties. Recommendation: Staff recommends that the EDA accept the Report and to set business retention goals for 2021 as outlined above. Action: Motion to accept 2020 Business Retention Report and adopt the plan for 2021 as outlined above. Business Retention and Expansion Report 1.5.20 Attachments Form Review