06/02/2016 EDAC Packet - Laserfiche WebLink

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Business Retention and Expansion Program Program Goals The BRE process is an avenue for gathering information about local business activity, helps to anticipate changes in a company's status, and works to retain the businesses that provide the greatest positive economic impact. It allows the City of Lino Lakes to target specific businesses and direct limited municipal resources toward retaining and growing these existing companies. Retention of key companies is a focal point of the City's economic growth strategy. As a whole, a BRE Program impacts a community on a broad scale. It facilitates livable wage jobs that allow residents to support local businesses and participate in community activities, supports and maintains tax base to generate revenues and increase the economic vitality of the City. Goals for a local BRE Program include: Support business development that increases the tax base and adds quality jobs. Retain quality businesses by creating a positive economic environment that supports and fosters business expansion in the community. Connect expanding businesses to local resources Promote reinvestment in the community by focusing on pre -determined business and neighborhood targets. City's Role As a public entity the City is regulated as to the type of assistance it can provide to local businesses. BRE is based on a partnership and the City brings resources that assist in facilitating public purposes. Locally, the City can contribute to fostering a strong BRE program. The City can provide important information related to infrastructure and transportation improvements that impact local businesses. Information can be related to construction concerns or financing options. The City can act as a connector to other government programs from the State of Minnesota and Anoka County. These agencies have economic development programs that provide financial assistance in the areas of employee training, manufacturing or product development, and capital improvements such as building construction. The City can communicate to businesses about local issues that effect their operations. Visitation is the primary way to establish a relationship with local businesses. Many times the local owner or plant manager is the point of contact. In these instances it is imperative that the decision maker for the company is meeting with a decision maker for the City. The company representative needs a high level of comfort that their question or concern can be addressed by someone who is able to formulate change or follow up. It is recommended that a member of the City Council participate in the BRE visits for this reason.