HomeMy WebLinkAbout10 24 2013 EDAC rept 3a
4646 Dakota Street SE
Prior Lake, MN 55372
ECONOMIC DEVELOPMENT ADVISORY COMMITTEE REPORT
MEETING DATE: October 24, 2013
AGENDA #: 3.a.
PREPARED BY: Casey McCabe, Community Development Specialist
AGENDA ITEM: BUSINESS RETENTION AND EXPANSION SURVEY SUMMARY REPORT
DISCUSSION: Introduction
The purpose of this agenda item is to review Business Retention & Expansion (BR&E) pro-
gram summary report and determine how the committee would like to share this information.
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 additional 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 opportuni-
ties 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
Industrial Park, Waterfront Passage, and Welcome Avenue Industrial Park as the primary tar-
get area for BR&E surveys. The EDAC compiled a list of approximately forty-five businesses
within the target 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. Twenty-three surveys were completed which repre-
sented a total of twenty-seven Prior Lake businesses represented.
Conclusion
Attached to this report is the Business Retention & Expansion program Summary report which
identifies the survey process and details the questions and responses received by the EDAC.
ISSUES: The original Prior Lake EDAC survey questionnaire was amended during the interview process
to mirror the GREATER MSP recommended survey form. Because the EDAC used two sep-
arate 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.
FINANCIAL None.
IMPACT:
ALTERNATIVES: 1. Provide direction to city staff related to informing the public of the Business Retention &
Expansion Program Summary Report.
2.Continue discussion during a future meeting.
RECOMMENDED Alternative 1.
MOTION:
ATTACHMENTS: 1. Business Retention & Expansion Program Summary Report
2