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Economic Development Advisory Committee <br />August 5, 2021 <br />Page 2 <br /> <br /> <br />APPROVED MINUTES <br />Mr. Colgan commented the sales volume for Bramstedt Surgical Inc. seemed high. <br /> <br />Ms. Jeffrey-Schwartz commented, conversely, Distribution Alternatives sales volume <br />seemed low. <br /> <br />Mr. Gromberg stated these numbers are what they report. When looking at these <br />numbers it is helpful to remember they may not be reporting everything. There are <br />advantages to understating/overstating numbers. He asked the committee what <br />businesses they would like to prioritize and identify what questions they would like to <br />ask them. <br /> <br />Mr. Colgan commented he is hearing from business owners that they are struggling to <br />find employees. <br /> <br />Mr. Gromberg agreed with Mr. Colgan businesses are going to have to adjust. We need <br />to talk to businesses and ask what their needs are. <br /> <br />Mr. Grochala asked, with more people working from home, does this change the types <br />of businesses the City is trying to attract. <br /> <br />Ms. Jeffrey-Schwartz commented, if more employees are working from home, most <br />businesses are going to contract rather than expand. Business may be looking at <br />needing less space. <br /> <br />Mr. Grochala stated this changes the dynamic for commercial development. <br /> <br />Mr. Gromberg stated economic development is difficult. There are many other factors <br />to consider. <br /> <br />Ms. Jeffery-Schwartz stated instead of a distribution corridor she would support a tech <br />corridor along 35E. <br /> <br />Mr. Cravero commented maybe the City becomes a place where people can easily work <br />from home. The City should consider building out infrastructure that would support <br />this. <br /> <br />Mr. Grochala stated it is important to keep in mind how our property tax system is <br />structured. With more people working at home, there are fewer people paying <br />commercial real estate property taxes. We need to identify ways to expand and develop <br />that industrial/commercial side to start evening out property tax imbalance. <br /> <br />Mr. Gromberg commented industrial/commercial generates more property taxes for the <br />City. He reiterated the importance of speaking with existing businesses and identify <br />their needs. <br />