#15 - EDA 2023-2024 Work Plan - Laserfiche WebLink

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11/15/2022 2 Goals/Action Steps/Deliverables 1. Develop strong relationships with existing businesses and explore options for a Business Retention and Expansion (B,R&E) Program. Action Step: City and Washington County CDA staff will research and explore options for a business retention and expansion visitation program. Staff will: 1) work to create a list for possible businesses to visit, 2) develop and recommend a proposed program structure including timing, 3) create a draft business survey and 4) discuss the potential interview process and overall program operations including reporting the survey results. Recommendations will be brought to the EDA for consideration, input and discussion. Deliverables: Staff will be providing potential program options to EDA for discussion and consideration. This began in the fourth quarter of 2021, continued in 2022 and is expected to continue into 2023 as well. 2. Develop data (including talent availability, business types, demographic data) Action Step: City staff with assistance from Washington County CDA staff and DEED will provide community demographic information (including but not limited to: talent availability, business types, community profile, demographic data). Action Step: Washington County CDA will hire a consultant in 2023 to undertake a labor market study throughout the county. Lake Elmo will be included in the middle region plan. Once completed, results will be reported back to the EDA Board. Action Step: City staff with assistance from the Washington County CDA will explore options to obtain resident input through a survey and then report back to the EDA Board. Deliverables: The labor market study and demographic/data study update will begin in 2023 or sooner contingent on available funding. 3. Increase the number of commercial and industrial businesses Action Step: City staff with the assistance of CDA staff will explore opportunities to attract new businesses into the city. Updates to the EDA may include maintaining a list and periodic reports of commercial and industrial projects that are in the planning process, under construction and recently completed. Action Step: City staff will showcase more economic development stories and business updates on the EDA website the CDA’s website as well as in the City’s Newsletter.