Agenda - Economic Development Authority - 04/13/2023

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Economic Development Authority(EDA) 4.2. Meeting Date: 04/13/2023 Submitted For: Sean Sullivan, Community Development By: Sean Sullivan, Community Development Title: Select 2023 Ramsey Business of the Year Purpose/Background: The purpose of this case is to select the 2023 Ramsey Business of the Year, an annual selection made by the EDA. The Ramsey Business of the Year is chosen 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." 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 the responses from all four nominees, each with their own areas of excellence. The City of Ramsey is fortunate to have many great nominees for 2023 Business of the Year. The EDA should review the responses and select a 2023 Business of the Year. The nominees include (years on the short list): Dynamic Group (7) PACT Charter School(7) B &F Fastener Supply(3) Global Glove (2) Each business has its own merits and reasons that it could be selected as the 2023 Business of the Year. The EDA also has the discretion to move businesses up from the Large List to the Small List and to add others to the large list for consideration in future years. Alternatives Include: 1. Select 2023 Business of the Year from one of the businesses on the short list 2. Something else and/or based on discussion 1. Add to the Small List for consideration in 2024 2. Add to the Large List for consideration in 2024 3. Remove from the large or small list for future years