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 Title: Authorize 2022 Ramsey EDA Business Expo Budget and Date 4. 3. Purpose/Background: The purpose of this case is to provide an update and to get authorization for an EDA allocation for the 2022 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. Pre-2019, this event typically drew 200-300 people and had 45-50 business exhibitors. In 2019, 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. The City re -booted the event in October 2021 and it was a successful event. Attendance was down from 2019 levels but staff attributed that to the time of year and some hesitation by some exhibitors due to Covid 19. Staff is excited bring back this event during its normal time slot and to give Ramsey businesses another opportunity to connect with residents and attendees. The proposed EDA allocation for the 2022 Business Expo is $5000. Historical allocations for this event have been $4000 (2016), $5000 (2017), $6000 (2018), $7,000 (2019), and $4,000 (2021). Last fall the event is was slightly over budget ($101.24) so staff is asking for additional funds ($1,000) for 2022 to provide for more flexibility. Planning has commenced for the 2022 Expo proposed to be held on April 30, 2022 at Adrenaline Sports Center and staff is always working on ways to get the best return on investment from EDA expenditures while maintaining a quality event. The April 30, date is a hard date based on staff availability and other events scheduled at the venue. To maximize event configuration, Staff is proposing 59 booths for 2022. The EDA previously directed staff to keep the event at Adrenaline, based on the success of the venue in 2019 and 2021. Staff recommends maintaining the registration fee for Ramsey Businesses from at $50 and charging non -Ramsey businesses $75. Priority for signing up for the event is always given to Ramsey Businesses. Notification: Notification is not required. Observations/Alternatives: The 2022 Business Expo is being slotted back into its regular April timeline. Staff is also hopeful that Covid-19 has a lesser impact on participation. As such, Staff anticipates better participation this year by both vendors and residents. Even if participation is down from the historically high level in 2019, this event is very important to Ramsey businesses and their ability to market themselves to Ramsey Residents and other visitors. The proposed budget for the 2022 event is attached to this case for review and comment. The EDA allocated $4,000 for last year's event. Staff is proposing a $5,000 allocation for the 2022 Expo, an increase of $1000 from 2021. Proposed Event Details include: Venue:Adrenaline Sports Center - 8310 147th Lane NW Ramsey, MN 55303 Date:April 30, 2022