HomeMy WebLinkAbout6C Indubator Discussion Direction to Technology Business4646 Dakota Street SE
Prior Lake. MN 55372
ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT
MEETING DATE: October 10, 2011
AGENDA #: 6C —Ljp--
PREPARED BY: Dan Rogness, Community & Economic Development Director
AGENDA ITEM: Incubator Discussion / Direction to Technology Business Incubator Sub-
committee
DISCUSSION: At its last meeting, the EDA appointed a Technology Business Incubator Sub-
committee to include the following members: Terry Hitchcock (Chair), Michelle
Choudek (Vice- Chair), Bob Morris, John Bryant, Bob Jader and Atta Mateen.
Primary staff support will be provided by Dan Rogness.
Before the subcommittee begins to meet, the EDA should provide some direction
to their work program. Staff recommends that direction be given to the subcom-
mittee to begin evaluating options to implement a technology business facility (in-
clubator) in Prior Lake, including a report that covers these primary issues:
• Identify models of business incubation (public, private, or combination);
• Outline financial models to support start-up and ongoing operational costs;
• Evaluate opportunities for business incubation in Prior Lake; and
• Identify a preferred plan for Prior Lake.
ISSUES: Each of the subcommittees should operate from a common premise and process.
That process is identified in agenda item 6A. The EDA should determine if they
concur with staff recommendations in this regard. The EDA perspective on these
matters will be conveyed to the committee.