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HomeMy WebLinkAbout4.2a ICSC Recap Memo To: Economic Development Authority FROM: Gretchen Larson, Economic Development Director DATE: June 10, 2022 RE: ICSC Tradeshow May 22-24 The ICSC Tradeshow May 22-24 was back in full swing after the COVID pandemic sidelined the 2020- 2021 shows with over seven hundred exhibitors and 36,000 attendees. The City has been attending the Annual Conference for over 10 years and our attendance at the tradeshow primarily focused on supporting the economic development Goals 2 and 4 in the Comprehensive Plan (see footnotes). In 2022 the ever-changing face of retail resulted in ICSC rebranding themselves from the International Council of Shopping Centers to Innovating Commerce, Serving Communities. This rebrand recognized that the consumer shopping experience had evolved, the landscape of brick-and-mortar stores had changed, and there needed to be more focus on how communities needed to be served. The city team recognized the changes in the rebrand meant that more than just shopping center owners would attend and exhibit at the 2022 show. This allowed us to expand our meetings from those in retail and hospitality, to include developers and investors and incorporate Goal 5 from the Plan into our meeting strategy. This meant our plans now included promoting the City Business Park and the land for lease and sale in addition to the meetings set with retailers, restauranters, and the hospitality industry. A summary of meetings at the event and follow up efforts after included: Hotels The city team visited with six hotel chains including Hyatt, Wyndham, Hilton, Marriott, Choice Hotels and Cobblestone. Representatives from Wyndham have been in touch with staff since the show and Joe Alcala, Director of Franchise Development, said that they are working on a rebrand for their LaQuinta Hotels. He shared that once they are finished with the rebrand, they will reach back out to us for further discussion. Representatives from Choice Hotels are extremely interested in visiting further on their Extended Stay concept. The team from Cobblestone also said that they are still interested in exploring options. Representatives from Marriott would like to see an updated Hotel Study and we have not heard back from Hilton or Hyatt. Staff will continue to reach out periodically to everyone and update status accordingly. Economic Development Authority June 10, 2022 Page 2 of 2 Developers and Investors In addition to the meetings with the hotels, several independent developers stopped by the city booth to discuss opportunities related to hotels and the need for multi-family complexes in the city. As a result of these discussions staff is working to set a meeting with Ronn Thomas, Sr. Director for Cushman Wakefield, who specializes in the development of hotels. In addition, John McGraw with River Caddis, a lifestyle center builder out of Michigan, has asked to meet again the week of June 20. Ben Meland, Co-Founder and Construction Manager for Enclave, stopped by to introduce himself to staff. He shared that they currently have a multi-family project in Hastings and are extremely interested in building one in Cottage Grove. They are the developers of the land at 97th and Hemingway in the business park. He also shared with staff that his team reported that the Mayor and Council, City Administrator, and staff were a pleasure to work with and always extremely helpful. Retail The team also visited with a variety of retailers for shopping and dinning including Circle K, Little Caesars, 5 Below, Big 5 Sporting, Papa Johns, Smoothie King, Qdoba, Famous Footware, Tommy’s Carwash, Adventure Golf and Sports, and Freddy’s Steakburgers. Smoothie King have contacted staff, Famous Footware, Tommy’s Carwash, and Papa Johns who are all interested and actively seeking locations in the city. Mayor Bailey has also been informed of several other retailers, who we have visited with at earlier shows, who are still actively seeking locations including Panera and Michaels. Staff has offered locational help and marketing to attract franchisees, since that is an element which slows expansion plans for many retailers. As of this report, Smoothie King has taken us up on the offer to help them with finding potential franchisees. We will feature their efforts in an article in the second quarter Grow in the Grove newsletter due out in July. Summary The 2022 show was successful, and our marketing materials and promotional items were well received and gave us a fantastic opportunity to ask that folks snap a photo of themselves using our fishing lures and share with us for the city website and social media. After hour activities including receptions allowed us other opportunities to visit and connect with investors, developers, and retailers in a more casual setting. We received many “your booth and giveaways are great” comments. Overall, we had a great show and many promising leads have been followed up. Footnote: City Goals and Policies – Economic Development – ICSC 2022 Focus Goal 1: Promote economic development in Cottage Grove through a comprehensive approach to business needs. Goal 2: Promote business attraction, retention, and expansion in Cottage Grove. Goal 3: Promote economic development through public financing tools. Goal 4: Continue to develop community commercial areas that serve the whole community. Goal 5: Continue to develop business park areas that provide jobs and serve the local and regional economy.