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Home My WebLink About4B Business Ret & Expan Program 4646 Dakota Street S.E. Prior Lake, MN 55372-1714 ECONOMIC DEVELOPMENT ADVISORY COMMITTEE AGENDA REPORT MEETING DATE: AGENDA #: PREPARED BY: 10-1-08 4B PAUL SNOOK, ECONOMIC DEVELOPMENT DIRECTOR AGENDA ITEM: BUSINESS RETENTION AND EXPANSION MEET AND GREET PROGRAM DISCUSSION: Existing businesses are major contributors to the Prior Lake's economy and tax base. Cumulatively, they employ the greatest numbers and, as they grow and expand, they can generate the greatest number of the community's new jobs. Also, the owners of successful existing businesses serve as community ambassadors that make a positive statement about Prior Lake for prospective new businesses. When existing businesses thrive, so does Prior Lake. Expansion of a local business does not always mean a bricks & mortar project, but often means an increase in employees, payroll, capital or an improvement in the bottom line. All of these have a positive impact on the business atmosphere in Prior Lake. Prior Lake's existing businesses are its best prospects for future growth. The Business Retention and Expansion Meet and Greet program is used to assist in the growth and support of existing businesses and enhance the local economy. The objectives of the program are: · To demonstrate to existing businesses appreciation for their contribution to the local economy · To help businesses solve their problems and challenges · To assist local businesses in gaining awareness of available resources · To develop collaborative relationships for participating in comprehensive long- range business retention and expansion activities · To build the community capacity and cooperation to sustain growth and development activities Staff has conducted ten meet and greet interviews in the last number of weeks. Individual answers to the survey are confidential and are not be released with names attached. Responses are summarized with those of others to form an overall result. We have also met extensively with all the businesses located in downtown's Blocks 2 and 4 (the subject area or downtown redevelopment), as part of the process for creating and distributing the redevelopment request for proposals. Generally, the businesses surveyed to date have expressed satisfaction with the business climate in Prior Lake; that Prior Lake is a good location for their business now and into the future. Some of the business owners referred to issues they had with the city linked to regulations and approvals, but ultimately those issues were or have been resolved. www.cityofpriorlake.com H:\ED 0-01 ~>tg5Z!41iQ$9guu: t'le~ait ~ililQS4245 Many of the businesses have expressed appreciation for the meeting and having the opportunity to communicate with and provide feedback to the city. One of the most important roles of the survey is discovering concerns and opportunities unique to each business. So far, two businesses are identified as having opportunities for expansion in the not too distant future, with the possibility of the city providing assistance, depending upon the scope of the expansion. Enclosed is the survey that is used in the Business Retention and Expansion meet and greets. The survey results will be summarized and analyzed to identify opportunities, trends, common issues, and help identify barriers local businesses face as they try to grow. H:\ED Advisory Cmte\Agendas\10-01-08\EDAC 10-1-08 - BRE Meet & GreetDOC PRIOR LAKE BUSINESS RETENTION AND EXPANSION SURVEY Business ID @@~~~[Q)~~lJM! Date of Visit: Company Name: Company Address: Phone: Fax: City (of this facility): State: Zip: Person(s) interviewed: Name: Title: Name: Title: Other Key Officials in this Establishment: Owner Chief Executive Officer Plant Manager Personnel Officer Notes to person(s) conducting interview: · Request permission to follow up on specific issues. · Skip-it rule: Person surveyed is under no obligation to answer and may choose to skip specific questions. · Confidentiality: Answers to survey are confidential and will be summarized with those of other businesses. · Note: After placing the ID number on this cover sheet and on survey pages, remove the cover sheet and file separately to ensure confidentiality of results. PRIOR LAKE BUSINESS RETENTION AND EXPANSION SURVEY Business ID @@~~~[Q)~~lfMM1 Prior Lake Business Retention and Expansion Program Background We believe our existing businesses are our best prospects for future growth. The purpose of this program is to see how we can help them grow. This program is sponsored locally by the City of Prior Lake: City Council, Economic Development Authority, and Economic Development Advisory Committee. The objectives of the program are: . To demonstrate to existing businesses that the community appreciates their contribution to the local economy To help businesses solve their problems and challenges To assist local businesses in gaining awareness of available resources To develop collaborative relationships for participating in comprehensive long-range business retention and expansion activities To build the community capacity and cooperation to sustain growth and development activities To provide better information and understanding for all local leaders of the strengths and weaknesses of the business climate . . . . . Confidentiality - Your individual answers to this survey are confidential and will not be released. Your response will be summarized with those of others to form an overall result in percentages or averages. The "Skip It" Rule - If there is a question that you feel might be best to skip, we will do that; just let us know. There is no need to explain your reasons. ii PRIOR LAKE BUSINESS RETENTION AND EXPANSION SURVEY Business ID @@~~~@~~~MJ11 1. What form of organization is your business? (Circle all that aoolv) Public Corporation Private Corporation Sole Proprietor Partnership Cooperative For-Profit Non-Profit Family-owned 2. Where are your principal market areas located? (Circle all that aoolv and soecifv locations below. e.!!.. citv. state. countrv) Local Regional National International 3. What product(s) or service(s) does your business provide? 4. Is your firm locally owned? (Circle one) Yes No 5. Are your company's current facilities adequate for anticipated future operations (3-5 years)? (Circle one) Yes No If not, why not? 6. Do you own or lease this facility? (Circle one) Own Lease If leased, when does lease expire? 7. Is the labor supply at this location adequate to fulfill your current and future needs? (Circle one) Yes No 8. How would you rate the business climate in Prior Lake? (Circle one) A) Excellent B) Good C) Average D) Poor F) Very Poor 9. How has Prior Lake changed in the past 10-20 years? How have these changes affected your business (positively or negatively)? 10. What kinds of changes, if any, would make this location more appealing to your company as a business location? 11. What should we work on to help Prior Lake businesses to prosper and grow? Thank you for your cooperation with our Business Retention and Expansion Strategies visitation program. We appreciate the time you have given us and the contribution your firm is making to our local economy. We cannot promise to solve the concerns you mentioned, but we will promise to try. If we can help you in the future, please call the City of Prior Lake Area at 952-447-9805. 1