Agenda - Economic Development Authority - 10/10/2024

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4. 3. Economic Development Authority (EDA) Meeting Date: 10/10/2024 Primary Strategic Plan Initiative: Promote economic growth and development. Title: Approval of 2025 Business Network Meeting at La Fontaine Event Center Purpose/Background: The purpose of this case is to approve an event budget, approve the program topics, and to select a date(s) for the 2025 Business Network Meeting. Staff has begun planning for the 2025 Business Network Event. In past events, the City has had Keynote speakers on various topics from time to time. Two of the biggest items that come up during business visits are the Hwy 10 project and challenges with hiring workers in all sectors. Staff is proposing having a hybrid network meeting that includes a Keynote Speaker, a City Update and a Highway 10 Update. Historically, the Business Network event has been well attended in January and doesn't have the holiday/vacation conflicts that we have in November and December. Last year the event was held at the newly remodeled La Fontaine Event Center and it was well received. Staff is recommending that the EDA use La Fontaine as the Caterer as well and has not obtained quotes from any other venue or caterer. A quote for the venue rental and catering is attached. Notification: None required Time Frame/Observations/Alternatives: The main cost for this event typically is the food as we have been fortunate to have speakers that have not required a speaking fee for most events. However, this year, Staff is providing an option for a paid Keynote Speaker, Ben Utecht of Champions Creed ($2,500). A flyer outlining the keynote speaking program about company culture is attached. It should also be noted that Mr. Utecht is in the process of opening a business in the VA building in Ramsey called SoleCareRX. SoleCareRx was founded by NFL Champion and Golden Gopher great Ben Utecht, alongside global medical device leader and innovator Mario Nozzarella, and 36 year international business leader Heinrich von Solms of South Africa. SoleCareRx exists to ensure the health and wellness of the human foot. The company holds the patents on the first ever disposable antibacterial and fungal shower wearable. The Shower Sock is designed to prevent bacterial and fungal infections that impact between 20-25% of the world population at any given time. This company is yet another high impact addition to the city of Ramsey and the healthcare med tech state of Minnesota. "We care for the human soul by protecting the human sole!" - Founder Ben Utecht Staff has obtained quotes for hosting/catering the event (including the Room Rental and associated charges) from the LaFontaine ($3,664.69) which is $103.75 less than last year. Staff always looks at local vendors/caterers first and gives some preference if costs are close. La Fontaine is the only local caterer and desires to showcase its new venue and catering product to the Ramsey Business community. Staff is supportive of this selection. The only city costs for this event are the venue, signage, breakfast and potentially a Keynote Speaker, as outlined in the attached budget(s). Staff has provided the 2024 cost for this event for review and believes that with the new quote the EDA will be able to maintain the $4,000 budget allocation in 2025 unless it chooses to go with a Keynote speaker, as staff recommends. This quote includes venue, food and table settings for 130 people.