Laserfiche WebLink
Economic Development Authority (EDA) 4. 3. <br /> Meeting Date: 06/09/2022 <br /> Submitted For: Sean Sullivan, Community Development <br /> By: Sean Sullivan, Community Development <br /> Title: <br /> Receive 2022 Business Expo Summary and Select 2023 Venue and Date <br /> Purpose/Background: <br /> Purpose: <br /> Provide EDA with 2022 Business Expo event summary and to select 2023 venue and date <br /> Background: <br /> Adrenaline Sports Center has proven to be a successful location for the Ramsey Business Expo. Staff has put <br /> together a short presentation summarizing the 2022 Event. <br /> Notification: <br /> N/A <br /> Observations/Alternatives: <br /> The 2022 Event: <br /> The April 30, 2022 spring event was full at 59 booths which was up from 52 in October 2021. Attendance was <br /> estimated to be between 650-750 people which is most this event has ever had. Staff has received positive feedback <br /> from the exhibitors,venue and attendees. A cool, rainy spring day and a corn-hole bag tournament on the other half <br /> of Adrenaline could have help attendance for the event. Staff did incorporate Facebook marketing for the event and <br /> believes that this did help attendance. The event still included some businesses outside of the City of Ramsey(65% <br /> were Ramsey businesses)which means that there is still room for Ramsey growth at the current venue. <br /> The Budget (2022 Event): <br /> The EDA allocated$5,000.00 for the 2022 Business Expo. Total Revenues (including EDA Allocation) for 2022 <br /> were $8,460.00 with 2022 Expenses coming in at$7,488.77 leaving a$971.23 net cash reserve for the 2022 event. <br /> Based on the reserve the net contribution in 2022 by the EDA was $4,028.77. <br /> The Future(2023 Event): <br /> Based on the success of the 2022 Expo staff would like to begin to set a date for next year's event. April 22 and <br /> April 29 are dates that work for the venue in 2023. The EDA will need to decide which day to select so that <br /> Adrenaline can plan accordingly for other event planning. A 2023 budget will be developed later once costs are <br /> determined in the future but staff is confident that$5,000 should be sufficient. Staff is currently not suggesting any <br /> changes to the event format. Staff is also open to suggestions on how we can improve the event in the future. <br /> Funding Source: <br /> N/A <br /> Recommendation: <br /> Select Adrenaline Sports Center as the home of the 2023 Business Expo and to reserve the venue for a Saturday in <br /> April of 2023. <br /> Action: <br />