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Home My WebLink About2013-01-26 PACKET 05.CI') Q C- 0 Ln V) V 0 L- 0 LL CITY OF COTTAGE GROVE MINNESOTA TO: City Councilmembers FROM: Danette Parr, Economic Development Director DATE: January 20, 2013 RE: Development Goals - Objectives As the City Council is aware, we have a number of economic development areas that compete for our finite resources. For that reason, we need to always be looking for smarter ways of supporting economic development, while also prioritizing activities in such a way that they support the Council's goals to the greatest extent possible. As a part of advancing our economic development work plan and EDA priorities, it's important that we assure the Council concurs with the direction we plan to move forward in over the course of 2013. In the list below, staff has provided bulleted action items that we would like you to consider. The bullets are meant to be high view and may not be inclusive of all the action objectives, but hopefully give the Council enough information to allow for meaningful feedback. Business Park Enhance business recruitment and retention efforts to grow the CG Business Park and allow for future Business Park expansion planning. • Reexamine our Business Park Marketing Plan to establish a focused approach to industry end -users that fall within specific categories; Define primary geographic market and conduct outreach to "tenant to owner" opportunities • Partner with Colliers International (broker for WAG Farms property in the Business Park) to enhance potential Business Park contacts • Ensure infrastructure planning proactively supports future development goals • Look for options for "road trip /tours" as part of marketing efforts • Enhance property finder options and links for CG ED efforts • Increase social media presence for CG ED and assure current accuracy of information • Revaluate possible incentives /toolbox options to assist with Business Park recruitment • Conduct one on one BRE meetings and partner with Grow MN, DEED, and Greater MSP to aggregate the information to get a better idea where opportunities exist to support our current businesses and make improvements internally • Establish a PACE (Property Assessed Clean Energy) Program for CC consideration and if approved, the program would be offered to our local businesses (available to all business sectors) 2013 Development Goals Page 2 of 3 BEC Increase exposure for the BEC facility, recruit future tenants, create a successful supportive network for tenants that allows for graduation and ultimate relocation within Cottage Grove. • Increase grant funding sources (BEC) • Create a revised proactive BEC Marketing Plan (with assistance from Tapestry and the Executive BEC Board) to fill the facility with quality tenants • Assist Tapestry with lunch and learns, networking opportunities, and mentorships for tenants • Create a board of citizens /business members that would commit to assisting with seeking support for BEC (support that is beyond just monetary, but also through, mentoring, sharing contacts, etc) • Collaborate with other outside entities (Enterprise MN, higher education institutions) to create awareness and partnerships with BEC • Increase social media presence for BEC Commercial /Service Businesses Foster efforts to create a healthy business environment that supports growth of existing commercial businesses, while also sending a message to potential new businesses that Cottage Grove is a place they should seek to locate. Success in growth of jobs (Business Park and BEC) and housing (East Ravine and remaining land in West Draw) are integral to providing opportunities for retail growth. Absent growth of jobs and housing retail success would be limited. • In conjunction with the Chamber, reformat the Shop CG Program (focus on educating CG Citizens on the value of supporting local businesses) • Shop CG on -line survey and look to implement feedback where possible • Assist River Oaks with facility improvement planning • Retailer newsletter • Facilitate coupon program for retailers • Work to address issues of vacancy rates within smaller shopping centers • Look for options for "road trips / tours" as part of marketing efforts • West Point Douglas Study and action objectives for area • Enhance property finder options and links for CG ED • Work with property owners to raise awareness of opportunities in such as Shoppes at Cottage View, Norris Marketplace and the East Ravine development. • Assist with establishing an appropriate outcome for the Cottage View sign • Reestablish efforts to bring entertainment venues to Cottage Grove Additional Areas • New recognition programs for all business types (Green Award, Community Partners, etc.) 2013 Development Goals Page 3 of 3 • Revisit our tool box to reevaluate possible sources for recruitment and retention for businesses (funding sources, cost saving initiatives, marketing support, green initiatives, etc) • Conduct outreach to new business filers (assumed names and new corporations) • Assist with positive messaging to market the City • Continue to participate in event planning related to economic development initiatives (assist with the Realtor Forum, Growth Partners Golf Tournament, ICSC, and other economic development events that arise).