Agenda - Economic Development Authority - 01/13/2022

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Economic Development Authority (EDA) Meeting Date: 01/13/2022 Submitted For: Sean Sullivan, Community Development By: Sean Sullivan, Community Development 4. 2. Title: Receive 2021 Business Retention and Expansion Presentation Purpose/Background: The purpose of this case is to receive the attached report/information on the 2021 Business Retention & Expansion Program with a focus on Business Visits/Surveys. The 2020 goal was to make 50 business visits. In 2021, 41 formal business visits/surveys were conducted. Due to the Pandemic, 22% formal visits were conducted via phone. The attached report/presentation is summary data from all the formal visits in 2021 Many of the 2021 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 2022: Balance Between Retail and Commercial / Industrial Businesses Formal Visits • Follow-up With Remainder of Businesses that Received City Grants • Visit Newer Businesses to Ramsey • Goal of over 30 Formal Visits in 2022 • 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 2021 Report and to set business retention goals for 2022 as outlined above. Action: Motion to accept 2021 Business Retention Report and adopt the plan for 2022 as outlined above. 2021 Business Retention and Expansion Report Attachments Form Review Inbox Reviewed By Date