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HomeMy WebLinkAbout06/03/2021 EDAC PacketCITY OF LINO LAKES ECONOMIC DEVELOPMENT ADVISORY COMMITTEE MEETING Thursday, June 3, 2021 8:00 A.M. Community Room AGENDA 1. CALL TO ORDER AND ROLL CALL 2. APPROVAL OF MINUTES: May 6, 2021 3. DISCUSSION ITEMS A. 5-Year Strategic Plan B. Project Updates 4. ADJOURN CITY OF LINO LAKES ECONOMIC DEVELOPMENT ADVISORY COMMITTEE MINUTES I. CALL TO ORDER Chair Schueller called the Economic Development Advisory Committee meeting to order at 8:01 A.M. on May 6, 2021. II. APPROVAL OF MINUTES Mr. Cravero made a MOTION to approve the March 4, 2021 Meeting Minutes. Motion was supported by Mr. Kohler, passing unanimously. III. DISCUSSION ITEMS A. 5-Year Strategic Plan Mr. Grochala, Community Development Director, presented the staff report. EDAC is responsible for the preparation of a 5-year Economic Development Strategic Plan. The plan was last updated in 2014. With the recent adoption of the Comprehensive Plan, staff is proposing to begin work on an update. Mr. Jim Gromberg, WSB and Associates, presented a slideshow to help facilitate the process. Mr. Gromberg asked the board how successful they think the City has been over the past five years at meeting the goals outlined in the comprehensive plan. Mr. Kohler commented that he thought the City has been successful and seen good growth even during the 08-09 economic recession. Mr. Colgan expressed how satisfied he is with the outcome of the Hodgson and County Rd J (Lyngblomsten) project. DATE : May 6, 2021 TIME STARTED : 8:01 A.M. TIME ENDED : 9:02 A.M. MEMBERS PRESENT : Jim Schueller, Andrew Cravero, Nathan Vojtech, Patrick Kohler, Thomas Colgan MEMBERS ABSENT : Don Johnson, Julie Jeffrey-Schwartz, Chad Wagner STAFF PRESENT : Michael Grochala, Janele Waterman, Jessica Eller Economic Development Advisory Committee May 6, 2021 Page 2 DRAFT MINUTES Mr. Vojtech mentioned several developments along the 35E corridor that will hopefully lead to future development of that area. Mr. Cravero commented that he thinks the City hasn’t been as successful at attracting new business especially those in the tech industry. Chair Schueller commented that some of these projects haven’t been completed yet and therefore once they are established will hopefully lead to more development. Mr. Gromberg concurred and then asked the board what strategies the board would like to implement for attracting and expanding existing businesses. Chair Schueller stated that prior to the pandemic the board did a couple of business retention and expansion visits. He commented that he thought the board would still be interested in doing that. He suggested targeting a certain number of businesses to visit a year. Mr. Cravero commented that by talking directly with the businesses we learn better what they want and need. He added that he liked the idea of engaging with the business community directly. Mr. Cravero also mentioned that the City should consider working with the local schools to offer job skill trainings to employees and then connect them with local businesses. Mr. Grochala stated that the City is connected with Anoka County’s CareerForce that focuses on career development and talent matching. They are also connected with the local technical colleges providing specific training for business needs. This is a program that the City is interested in trying to grow. Mr. Gromberg suggested inviting the job skills training program staff and some business owners to an EDAC meeting to discuss some of the services they provide. Mr. Vojtech asked Mr. Grochala about any City programs that assist businesses and whether or not that is still an option. Mr. Grochala stated that the City offers a business assistance program called Open to Business through Anoka County that is ongoing. Mr. Vojtech commented that this is another great resource to be able to offer businesses. Mr. Cravero also suggested that the City reach out to the Metropolitan Economic Development Association as another resource to offer to business owners. Mr. Gromberg agreed. He then asked the board how Lino Lakes can do a better job of marketing itself. Economic Development Advisory Committee May 6, 2021 Page 3 DRAFT MINUTES Mr. Vojtech commented that the City had developed a brochure that painted a very detailed picture of what Lino Lakes has to offer. Mr. Cravero suggested that this brochure be available electronically as well. Mr. Grochala stated that some of this information can be found on the Cities webpage but suggested that we update some of our marketing material. Mr. Kohler stated that the City should specify what types of businesses we want to attract. Mr. Gromberg agreed. He suggested that at an upcoming meeting the board should discuss and identify which types of businesses the City wants to attract and why we want to attract them. Mr. Cravero stated that it is a type of business not a specific business. He clarified by saying we don’t want businesses that are directly competing with one another. Mr. Grochala commented the Minnesota Technology Corridor webpage lists out targeted and diverse industries that the City is trying to attract. Mr. Gromberg asked the board what kind of role the board can play in the planning of future use/disposition of City owned properties. Mr. Kohler commented that he would like to identify some properties that the City should acquire for the long term plan. Mr. Grochala supported this idea. He commented that he has identified a few properties that are potential redevelopment opportunities. Mr. Gromberg suggested that the board identify some of these sites at a future meeting. Mr. Cravero commented that he liked the idea of creating a list of sites for redevelopment so when they come on the market they can identify which ones were of strategic importance. B. Lake Drive Land Sale Mr. Grochala, Community Development Director, gave an update on the 77th Street property acquisition. The City is still working through a purchase agreement with the principal buyer. C. Project Updates Economic Development Advisory Committee May 6, 2021 Page 4 DRAFT MINUTES Mr. Grochala gave a verbal update on Lyngblomsten. IV. ADJOURNMENT Mr. Cravero made a MOTION to adjourn the meeting at 9:02 A.M. Motion was supported by Mr. Vojtech, passing unanimously. Respectfully submitted, Jessica Eller, Community Development Intern ECONOMIC DEVELOPMENT ADVISORY COMMITTEE AGENDA ITEM 3A STAFF ORIGINATOR: Michael Grochala MEETING DATE: June 3, 2021 TOPIC: Economic Development Strategic Plan BACKGROUND EDAC is in the process of updating the 5 Year Economic Development Strategic Plan. Mr. Jim Gromberg, WSB and Associates, was present to facilitate the discussion at the May meeting. The attached memo lists the potential action items discussed at the meeting. Discussion will focus on selecting two priority action steps from the list. EDAC Direction None required. Discussion only. ATTACHMENTS 1. Memo from Jim Gromberg 701 XENIA AVENUE S | SUITE 300 | MINNEAPOLIS, MN | 55416 | 763.541.4800 | WSBENG.COM Memorandum To: Lino Lakes EDAC Michael Grochala, Community Development Director From: Jim Gromberg, WSB Date: May 27, 2021 Re: EDAC Strategic Plan WSB Project No. 017644-00 Lino Lakes has engaged WSB to assist in the updating of the current strategic plan for the Economic Development Advisory Committee (EDAC) to allow for the continued successful economic development initiatives in the City of Lino Lakes. The goal of the plan will be to create action items for the EDAC to complete over the course of the next 5 years that work in conjunction with the goals included in the recently updated comprehensive plan. The current goals for economic development identified in the comprehensive plan include: •Expand and diversify the city’s tax base by encouraging commercial and industrial development in the Planned Residential/Commercial, Office Residential, Signature Gateway and Town Center Areas to lessen the tax burden on residential properties. •Work with developers to identify innovative strategies for attracting entry level and smaller entrepreneurial businesses to Lino Lakes. •Attract and encourage new light industrial, high tech, business and professional services enterprises and maintain and expand existing businesses in Lino Lakes. •Promote efficient, planned commercial and industrial expansion within the City’s growth areas, accessible to public infrastructure and transportation. •Promote Lino Lakes’ location within the metropolitan region as an advantage in doing business. At the May 6th meeting the EDAC discussed the current status of the economic goals and the accomplishments over the last 5 years. The general consensus was that the City and EDAC has made significant progress on the goals but that they still have the opportunity to fully complete the goals that have been identified. The action items that the EDAC identified at the meeting were : •The identification of businesses that the City would like to attract keeping in mind that we do not want to create undue competition for the current companies. One of the potential sources for the type of businesses that the EDAC will want to attract is the information for the Minnesota Technology Corridor. They have identified the following industries: Data Center, R and D Facilities, Software Companies, Engineering Firms, Medical and Healthcare firms, Finance and Commerce Companies. Attached is the information on company attraction from the Technology Corridor website. Lino Lakes EDAC May 27, 2021 Page 2 •The identification of properties that the City should identifiy for potential redevelopment in the future. This does not mean that the City necessarily has a position on the value or likability of a site but that the site could be redeveloped to a higher and better use in the future. •Identify strategies to successfully attract the targeted industries and to retain the existing businesses that are considering expansions. •Updating and expanding the marketing materials for use in attracting new industries and businesses. •Develop a program to assist with workforce needs of existing businesses including the potential development of a job skills training program. The EDAC should identify two action items for the June EDAC meeting that will allow for the group to make progress in the development of the strategic plan and objective matrix. Minnesota Technology Corridor Target Industries Data Centers The Minnesota Technology Corridor is the ideal location for data centers. Already, there are approximately 200 data processing, computer design and hosting companies between Anoka and Washington Counties, with over 20 data processing, computer design and hosting companies located within the Corridor. Their reasons for doing so include access to affordable electricity. The electric costs within the Corridor are 23% lower than the U.S. Average and there are 100% renewable options. In addition, an abundance of reliable fiber from multiple companies allows for fast data processing. When combined with available real estate, the Corridor is incredibly attractive for site selectors and data center executives searching for a location near tech talent. Search for sites up to 250-acres here. R&D Facilities R&D facilities benefit from the abundance of available real estate near the Twin Cities and 30-minutes from the MSP International Airport. The Minnesota Technology Corridor is one of the only locations in the country that is considered a Top Talent Market and has up to 250-acres of shovel-ready land available for development. The combination of talent and real estate is unique to this area and it is a key driver in R&D growth. R&D facilities partnering with Fortune 500 and Fortune 1000 companies also benefit from a location in the Corridor, given the area’s proximity to all 18 of the Fortune 500 Companies headquartered in Minnesota, along with 25 Fortune 1000 Companies. Software Companies Software companies are attracted to the Minnesota Technology Corridor, in part, due to the region’s abundant tech talent. There are 10,000+ STEM students graduating in the region per year, with Forrester Research naming the area a Top Talent Market. There are over 136,000 tech jobs locally, with a 52% growth rate over the past five years. This meteoric growth has made the region a top destination for software companies, including those like Vero Software and Sage Computer Solutions Inc., who are located within the Corridor. Software companies also find value in the cost savings they receive by locating in the Corridor, as opposed to Silicon Valley. Labor, land and energy costs less in Minnesota and that allows companies to have more capital to invest in growth. These are just some of the reasons the region is home to Cushman Wakefield’s Top Tech City in North America. Engineering Firms Engineering firms are growing in and around the Minnesota Technology Corridor. With over 10,000 STEM students graduating in the region per year, local engineering firms like NATRA Electronics have access to the top talent they need to expand and grow. From a location perspective, the Corridor offers engineering firms additional advantages such as access to a major international airport. The MSP International Airport is only 30-minutes away. In addition, the Corridor is located within 30-minutes of the 18 Fortune 500 Companies headquartered in Minnesota -creating opportunities to work with major corporations and the businesses who support them. Finance and Commerce Companies The Finance and Insurance industry is growing within the region with occupations having grown by 5.9% between 2011 and 2016. This growth has been spurred by overall economic growth and by the large financial and insurance firms calling the area home. As a Top Talent Area, the region can support this growth and local universities ensure that enough students are regularly graduating to fill job vacancies. Another reason that Financial and Insurance companies are choosing to locate in and near the Corridor is the ready access to the MSP International Airport - only 30-minutes away. In addition, the Corridor has available property that is ideal for expanding headquarters or satellite offices. Medical and Health Care Firms Medical and Health Care firms are choosing to locate in the Minnesota Technology Corridor, in part, to support the growth of the Twin Cities region and the 616,043 who call the Corridor home. This area of Minnesota has experienced rapid and sustained growth that has been driven by a high quality of life, job creation and the region’s many educational institutions. These universities make it easy for Medical and Health Care firms to recruit top talent right out of college, or away from other firms. In fact, with the Corridor located within 30- minutes of all 18 Fortune 500 Companies headquartered in Minnesota, local firms are able to pull from experienced talent both for managerial and board positions. Another advantage of locating in the Corridor can be found in the abundance of available real estate located near major interstates and the MSP International Airport.