Agenda - Economic Development Authority - 03/10/2022

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Economic Development Authority (EDA) Meeting Date: 03/10/2022 Submitted For: Sean Sullivan, Community Development By: Sean Sullivan, Community Development 4.3. Title: Select 2022 Business of the Year Purpose/Background: The purpose of this case is to select the 2022 Ramsey Business of the Year, an annual selection made by the EDA. The Ramsey Business of the Year is selected from a list of 3-6 nominees (known as the "small list"). The purpose of the small list is to narrow down the voting / analysis process to a smaller pool of nominees for efficiency. The "small list" of candidates is derived from a "large list." Said nominees are asked to answer a set of questions that demonstrate their exemplary standing in each of these four categories: • Length of tenure in the City of Ramsey • Number of employees / job creation • Community involvement • Innovation and uniqueness Both the 'small' and 'large' lists are attached. Notification: N/A Observations/Alternatives: We have updated responses from all six nominees, each with their own areas of excellence. The City of Ramsey is fortunate to have many great nominees for 2022 Business of the Year. The EDA should review the responses and select a 2022 Business of the Year. The nominees include (years on the short list): Dedicated Networks (6) Dynamic Group (6) PACT Charter School (6) B & F Fastener Supply (2) Global Glove (1) Plants and Things (1) Each business has its own merits and reasons that it could be selected as the 2022 Business of the Year. Staff Added Global Glove (large Building purchase/expansion) and Plants and Things (tenure in Ramsey and Hwy 10 impacts) to the Short list and added Heartland Tire (Both corporate and retail presence in Ramsey) to the Large list for consideration. Staff is seeking policy direction on selection moving forward. Alternatives Include: 1. Select 2022 Business of the Year from one of the business on the short list 2. Something else Funding Source: