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4. 3. <br />Economic Development Authority (EDA) <br />Meeting Date: 01/09/2025 <br />Primary Strategic Plan Initiative: Promote economic growth and development. <br />Title: <br />Receive 2024 Business Retention and Expansion Presentation and Adopt 2025 Goals <br />Purpose/Background: <br />The purpose of this case is to receive the attached report/information on the 2024 Business Retention & <br />Expansion Program with a focus on Business Visits/Surveys. The 2024 goal was to make 30 or more business <br />visits. In 2024, 30 formal business visits/surveys were conducted. Most visits were done in person but a couple <br />visits were still conducted via phone to accommodate the schedules for businesses. <br />Notification: <br />Not required <br />Time Frame/Observations/Alternatives: <br />Staff will present the attached report for detailed observations for 2024 and 2025 recommendations. Staff is <br />recommending the following Goals for 2025: <br />• Conduct 30 or more Business Visits <br />• Visit Newer Businesses to Ramsey <br />• Both Phone and in -Person Visits (in -person preferred) <br />• Blend of Commercial / Industrial and Retail <br />• Visit Hwy 10 Based Businesses <br />• Hwy 10 Construction Project Communication <br />• Promote Temporary Sign Regulations <br />• Continued Success at EDA Sponsored Events <br />• Review Business Contact Information on Business List <br />• Updated Brochures in Business Visit Packet <br />Alternatives: <br />1) Motion to accept 2024 Business Retention Report and adopt the Goals for 2025 (as presented) <br />2) Motion to accept 2024 Business Retention Report and adopt the Goals for 2025 (with changes) <br />3) Something else <br />Funding Source: <br />This case is being handled as part of normal Staff duties. <br />Recommendation: <br />Motion to accept 2024 Business Retention Report and adopt the goals for 2025 (as presented) <br />Outcome/Action: <br />