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� <br />�fi` �HILLS <br />MEMORANDUM <br />DATE: September 5, 2012 <br />EDC Agenda Item 3.B <br />TO: Economic Development Commission Chair and Commissioners <br />FROM: Jill Hutmacher, Community Development Director ,J /� <br />SUBJECT: Economic Gardening <br />Economic Gardening is an approach to economic development which focuses on "stage two" <br />businesses which are defined as businesses that are past the start-up phase, have 10 — 99 <br />employees, and $1 to $50 million in annual revenue. Research has shown that most jobs are <br />created by stage two businesses. Economic Gardening specifically focuses on stage two <br />businesses which have high potential and steady growth and which sell goods and services <br />outside of the region (in other words, they bring new money into the region from elsewhere). <br />Staff recently attended an Economic Gardening meeting organized by Ramsey County. At the <br />meeting, representatives from Hennepin County described their recently completed and <br />successful pilot program. Hennepin County selected 15 stage two businesses to participate. <br />Each business received 50 hours of technical research assistance at no cost and attended monthly <br />round table meetings with CEOs from the other participating businesses. The research assistance <br />and the round table meetings were facilitated by the Edward Lowe Foundation, a non-profit <br />organization which focuses on economic development and entrepreneurship. Participating <br />businesses reported a high level of satisfaction with the program. <br />Staff from several Ramsey County communities were in attendance at the meeting with Edward <br />Lowe Foundation and Hennepin County staff and were intrigued by the economic development <br />processes and techniques presented. Ramsey County will be considering whether a pilot <br />program or cooperative program with Hennepin County could be organized. A Star Tribune <br />article describing Anoka County's pilot program for Economic Gardening is attached. <br />Discussion Questions <br />l. If Ramsey County initiates an Economic Gardening pilot program, would the EDC <br />support participation by the City of Arden Hills? <br />2. Would the EDC support participation by the City in other Ramsey County economic <br />development efforts? <br />City ofArden Hills <br />Economic Development Commission September S, 2012 <br />Page 1 of 1 <br />