HomeMy WebLinkAbout02 27 2014 EDAC rept 4c
4646 Dakota Street SE
Prior Lake, MN 55372
ECONOMIC DEVELOPMENT ADVISORY COMMITTEE REPORT
MEETING DATE: February 27, 2014
AGENDA #: 4.c.
PREPARED BY: Casey McCabe, Community Development Specialist
AGENDA ITEM: PRIOR LAKE BUSINESS PAGES E-NEWSLETTER
DISCUSSION: Introduction
In an effort to communicate with the business community, the City of Prior Lake EDAC has distrib-
uted an electronic newsletter (Prior Lake Business Pages). The e-newsletter is a valuable tool to
provide information about pending projects, make announcements and keep the public informed
about the services provided by the EDAC and the Community & Economic Development Depart-
ment.
History
To date, six e-
highlight a specific development project or advertise an upcoming event.
The e-newsletter is currently distributed to over 360 recipients who have specifically requested to
receive the Prior Lake Business Pages e-newsletter on the City of Prior Lake website. If interested,
anyone can sign up to receive the Prior Lake Business Pages on the Economic Development page
of the City website at http://www.cityofpriorlake.com/city_newswire_subscribe.php.
Conclusion
Below are draft articles for the spring 2014 issue of the e-newsletter. EDAC members should review
the proposed articles and provide direction, additional article topics and/or comments to staff.
Open to Business
Are you an entrepreneur who has a great idea for a business but would like an experienced business
expert to help you work through the countless details of getting started? Are you a small business
owner who needs help taking your business to the next level? Whether it is financial advice, mar-
keting plans, business structure, or just having someone to help talk through business ideas, Open
to Business can help!
The Open to Business program in Scott County is a collaboration between the Scott County Com-
munity Development Agency (CDA) and the Metropolitan Consortium of Community Developers
(MCCD). Christine Pigsley, the Scott County Open to Business Advisor, is available to provide one-
on-one business counseling assistance customized to meet the needs of current business owners
and prospective entrepreneurs. Financing is also available to qualified applicants. The Open to
Business program is being offered free of charge to Scott County businesses or residents.
Christine will be in Scott County at the Government Center every Tuesday and is available to meet
can be discussed.
For more information about Open to Business or to schedule an appointment, please contact Chris-
tine Pigsley at 612-843-3277 or cpigsley@mccdmn.org
ness Development Manager Stacy Crakes at 952-496-8613 or scrakes@scottfss.org.
Local Economic Growth at Technology Village
In 2012, the Prior Lake City Council approved the Technology Village Business Plan as recom-
mended by the Economic Development Authority (EDA). With support services and a professional
office environment, the Technology Village Business Accelerator program began to offer leases to
qualifying emerging technology businesses in early 2013.
Phase I of the Technology Village program was established to provide affordable leases for 4 to 6
businesses within an existing 2,000 square foot office space in City Hall. The space is now filled
with ten employees representing six technology businesses, including Innovative Computer Profes-
sionals, design.a.tivity, Black Dog Computer Services, Valde Group, EC3-Marketing, and Argos
Risk. These technology businesses are focused on software development, graphic design, e-com-
merce, digital community news, ATM systems and identity fraud within the casino, retail, govern-
ment, and financial markets.
A Board of Directors oversees all activities associated with operations of Technology Village, ranging
from tenant selection to direct client services. This 6-member board is composed of local business
persons that have a range of experience and talents to contribute toward a successful business
incubation and acceleration program. This program will assist the EDA in achieving its economic
development objectives of
2030 Vision and Strategic Plan.
Phase II of the Technology Village plan is proposed to provide similar support for small business
growth opportunities in 2014 throughout Prior Lake in offices available for lease. As businesses
Prior Lake.
More information can be obtained at www.technologyvillage.net, or by contacting Dan Rogness at
drogness@cityofpriorlake.com or 952-447-9813.
Prior Lake Building Activity
Below is a comparison of 2012 and 2013 residential and commercial/industrial building activity in
the City of Prior Lake.
The City of Prior Lake issued 188 residential housing permits in 2013 compared to 174 in 2012;
an increase of 8%.
In 2013totaled $58.6 million compared to a new housing
unit value of $51.3 million in 2012; an increase of 14.2%.
2013 residential addition and alteration permits were valued at $3.62 million compared to 2012
residential addition and alteration permits valued at $3.55 million; and increase of 2%.
New commercial/industrial permit value totaled $930,000 in 2013, compared to $1.1 million in
2012; a decrease of 15.5%.
Commercial/industrial addition and alteration permits were valued at $2.7 million in 2013 com-
pared to $630,000 in 2012; an increase of 329%.
ISSUES: EDAC members should review the proposed e-newsletter articles and provide direction, additional
article topics and/or comments to staff.
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FINANCIAL Staff time dedicated to the newsletter.
IMPACT:
ALTERNATIVES: 1.Approve the proposed articles, with changes or additions, and direct City staff to finalize the
spring 2014 issue of the Prior Lake Business Pages with a targeted circulation date in March
2014.
2.Take no action and continue discussion at a future EDAC meeting.
RECOMMENDED MO-Alternative #1.
TION:
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