HomeMy WebLinkAbout2015-02-10 PACKET 04.C.02.City of
Cottage Grove
Minnesota
To: Economic Development Authority Members
From: Danette Parr, Economic Development Director
Date: January, 2015
Subject: Economic Development Activities
The mission of the Economic Development division is to recruit and retain quality
commercial/industrial partners, while supporting job growth. The mission is supported
by the following principles:
Encourage quality commercial and industrial development that enhances the
quality of life for Cottage Grove’s citizens and is compatible with the City’s
Comprehensive Plan.
Utilize sound financial practices in using incentives to attract and expand
businesses in the community.
Consider the use of incentives in instances where they will promote quality jobs
and development for the City.
Recognize the interdependence of the private and public sector in a healthy
community and foster a spirit of cooperation between the two sectors.
In order to support the above principles, City staff conducts the following activities:
Plan and hosts the Cottage Grove Realtor Forum
Plan and hosts the Growth Partners Golf Tournament
Attend the International Council of Shopping Centers (ICSC)
Research retailers
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Arrange meetings with retailer representatives
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Create marketing materials for retailer meetings
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Hold business park meetings
Gauge if there is a need for additional resources
o
Assist with expansion efforts
o
Seek opportunities where business partners, suppliers, symbiotic companies can
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be identified and offer a recruitment opportunity for the business park
Cultivate relationships with potential business partners
Maintain an office/commercial space inventory
Plan and facilitate ribbon cuttings
Maintain the Growth Partners website
Create and update marketing sheets for vacant sites
Hardcopy inventory of vacant office, commercial, and industrial sites
o
Electronic inventory of vacant office, commercial, and industrial sites
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Demographics
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ED Activities
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Manage the Business Enterprise Center (BEC)
Outreach
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Tenant improvements
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Leases
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Building operations/maintenance
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Provide tours
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Hold BEC Board meetings as needed
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Meet with potential new businesses and assist with directing them to resources
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(i.e.: business plan development, lending, etc)
Support lunch and learns
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Respond to Greater MSP and others requests for site information
Marketing efforts
Create marketing material (hardcopy and electronic)
o
Attend and display/showcase the City, business park, and BEC at various
o
conferences and events through organizations such as MHTA, MN TiE, MN
Venture, MD&M, Chamber events, Business Showcase, etc
Direct mailings
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Email blasts
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Distribute marking sheets
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Contacting business prospects directly based on input from current businesses,
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citizens, Councilmembers, and research
Meet with business park and office/commercial prospects to showcase specific
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sites to locate them within Cottage Grove
Provide outreach and specialized marketing for individual sites as needed
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Assist with specific programs (i.e: shop local, etc)
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Attend networking/mixer events related to start-ups and business development
o
Respond to business park and BEC inquiries
Reach out on an ongoing basis to newly incorporated businesses in our region
Maintain an ongoing relationship with current brokers and/or building owners that
represent CG sites and assist in filling their vacant space with quality tenants
Cultivate relationships with brokers, bankers, and others that can support our mission
Maintain aggressive public communication to Cottage Grove residents, property
owners, external developers, brokers, investors and end users of job, business creation
and development opportunities in the community
Collaborate with the Cottage Grove Area Chamber of Commerce in the planning and
supporting of certain events (Business Breakfast, Business Showcase, other misc
events) and serve on the Marketing and Communication Committee. Serve as the City
Representative on the Chamber Board of Directors
Conduct research and manage market studies as needed
Create packet material and support the EDA as needed
Assist with the development and management of City owned property
Collaborate/assist other departments on development and infrastructure projects and
community events
Assist River Oaks as needed