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• budget that allows them to take these people out for lunch or after <br /> business meetings as they develop relationships with these individuals. <br /> A more aggressive approach is to hold 'Arden Hills Day" and to have <br /> these people into your community for a four hour tour and luncheon <br /> that would be catered at City Hall. The goal here is to make sure that <br /> product knowledge and personal relationships are as strong as can be <br /> in order to have those people who influence investment decisions <br /> consider Arden Hills when opportunities arise in the future. <br /> 22) Incentive Policy. <br /> The community would b well served to draft an incentive policy <br /> guiding the productivuse of incentives in Arden Hills. This should be <br /> conducted by the E C in partnership with an outside consultant. As <br /> this document is ompleted it is then presented to council for approval <br /> and handedba to the EDC for implementation. Although it is a <br /> document in riting, it is critically important that the EDC and City <br /> Council and rstand that the incentive policy is a fluid document open <br /> for interpretation on a project-by-project basis. <br /> Middle: Years: 2 - 4 <br /> 23) Decision Influencers. <br /> Site selection consultants deal with the larger, more sophisticated <br /> projects that are decided upon each year. Marketing dollars could be <br /> well spent on approaching these individuals, sharing with them the <br /> benefits of an Arden Hills site selection and working with them in the <br /> future as projects materialize. Consultant approaches in the <br /> Minneapolis/St. Paul market would be the most affordable to approach <br /> followed by those in the Chicago market areas. <br /> 24) Joint Marketing. <br /> As the program matures, the City would be well served to partner with <br /> other surrounding cities in a joint marketing effort. This is a common <br /> strategy in economic development as companies who are focusing on <br /> an area are able to be approached earlier in the decision making <br /> process through group marketing than they can be with individual <br /> marketing. The sooner that the community can make an impression <br /> on a company, the higher their chances are of securing the new <br /> investment. <br /> Strategic Plan for Economic Development Page 21 of 25 <br /> Final Draft- Ready for Release Subject to Council Approval and Adoption <br />