HomeMy WebLinkAbout10 21 2013 EDA Report 4A
4646 Dakota Street SE
Prior Lake, MN 55372
ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT
MEETING DATE: October 21, 2013
AGENDA #: 4A
PREPARED BY: Casey McCabe, Community Development Specialist
AGENDA ITEM: BUSINESS RETENTION AND EXPANSION SURVEY RESULTS
DISCUSSION: Introduction
The purpose of this agenda item is to review Business Retention & Ex-
pansion (BR&E) survey results.
History
As part of its mission to retain existing Prior Lake businesses, the City of
Prior Lake Economic Development Advisory Committee (EDAC) conducts
BR&E visits with local company officials. Through these visits, and addi-
tional conversations with business leaders at events like the Business and
Industry Forum, the EDAC is able to identify challenges and opportunities
for businesses in our community.
The results of the BR&E surveys not only collect important information but
provide opportunities for EDAC and city staff members to follow-up with
expansion and development assistance. These surveys are also de-
signed to gather information which is used by the EDAC to provide infor-
mation and policy recommendations to the EDA and City Council.
Current Circumstances
The EDAC identified Prior Lake’s primary industrial and business park
properties in Deerfield Industrial Park, Waterfront Passage, and Welcome
Avenue Industrial Park as the primary target area for BR&E surveys. The
EDAC compiled a list of approximately forty-five businesses within the tar-
get area and established a goal to contact each business on the list and
provide each company an opportunity to complete the survey. The EDAC
was successful in contacting nearly every business in the target area. Of
the 45 businesses identified, twenty-three surveys were completed for a
total of twenty-seven businesses represented (60%).
Conclusion
Attached to this report is the Business Retention & Expansion Program
Summary Report which identifies the survey process and details the ques-
tions and responses received by the EDAC.
ISSUES: The EDAC conducted a total of twenty-three BR&E visits which repre-
sented contact with twenty-seven individual businesses. The original
Prior Lake EDAC survey questionnaire was amended during the interview
process to mirror the GREATER MSP recommended survey form. Be-
cause the EDAC used two separate survey forms during the interview
process, not all businesses were asked the same questions. In addition,
some business representatives chose to only complete a portion of the
survey.
The survey results are attached for EDA information. The EDAC will be
distributing the survey results to surveyed businesses, and it will also be
using the information to help formulate action steps to improve the busi-
ness climate in Prior Lake.
FINANCIAL None.
IMPACT:
ALTERNATIVES: 1. Take no action and accept the report.
2. Direct the EDAC to implement certain actions as may be identified
by the EDA.
RECOMMENDED
Alternative #1.
MOTION:
ATTACHMENTS:
1. Business Retention & Expansion Program Summary Report
2