03/03/2016 EDAC Packet - Laserfiche WebLink

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Memo To: Michael Grochala From: Kirstin Barsness Date: February 24, 2016 RE: BRE Program Development Update Business Research At the request of the Economic Development Advisory Committee (EDAC), I have organized the initial Lino Lakes business information into various categories. Initially there were 113 businesses included in the BRE list; this sample was reduced by separating the "wealth generating" businesses from the retail, commercial and non-profit entities. The resulting 31 companies comprise the working list used for evaluation. Numerous spread sheets were constructed in order to get a better understanding of the City of Lino Lakes business composition. The 31 businesses were sorted into specific categories. These included: • By NAICS (North American Industry Classification System) Through this process, industry clusters within Lino Lakes were identified. These were then compared to national growth trends. The information allowed for further separation of manufacturing, warehousing/distribution, and technical businesses. A separate handout on the key NAICS codes is attached to this memorandum. It details the industry clusters and corresponding businesses within them. Within the table, the specific companies that are in the fastest growing nationally, are identified. • Employee number Businesses were ranked from largest to smallest number of employees. Interesting when compared to company revenues. There are businesses with a modest number of employees and significant revenues. • Revenues Companies were ordered from highest sales volume levels to lowest. • Tax Base Each company's parcel identification number was researched and their taxable market value identified. This information is used to determine the largest tax payers in the City.