HomeMy WebLinkAbout03 27 2014 EDAC rept 4b
4646 Dakota Street SE
Prior Lake, MN 55372
ECONOMIC DEVELOPMENT ADVISORY COMMITTEE REPORT
MEETING DATE: March 27, 2014
AGENDA #: 4.b.
PREPARED BY: Casey McCabe, Community Development Specialist
AGENDA ITEM: PRIOR LAKE BUSINESS CONTACT
DISCUSSION: Introduction
The purpose of this agenda item is to determine how the EDAC wishes to remain in contact with the
local business community in 2014.
History
As part of its mission to retain existing Prior Lake businesses, the City of Prior Lake Economic Devel-
opment Advisory Committee (EDAC) has historically conducted Business Retention & Expansion
(BR&E) visits with local company officials. Through these visits, and additional conversations with busi-
ness 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 designed to gather information which is used by the EDAC to provide information and policy
recommendations to the EDA and City Council.
Current Circumstances
The EDAC has previously discussed whether or not it wishes to continue BR&E surveys in 2014 or if
the committee will develop some other form of communication or a survey to remain in contact with
local businesses.
Conclusion
If the EDAC wishes to continue BR&E surveys in 2014, the committee should identify a target area or
type of business. If the EDAC chooses not to complete additional BR&E surveys in 2014 the committee
should discuss alternate opportunities to remain in contact with local businesses.
ISSUES: One of the EDAC’s identified goals for 2014 is to, “Continue to meet with at least four existing City
businesses quarterly for business retention and expansion purposes.”
FINANCIAL None.
IMPACT:
ALTERNATIVES: 1. Provide direction to city staff related to informing the public of the Business Retention & Expan-
sion Program Summary Report.
2.Continue discussion during a future meeting.
RECOMMENDED Alternative 1.
MOTION: