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<br /> <br />City of Arden Hills <br />Economic Development Commission February 7, 2018 <br /> <br />Page 1 of 2 <br /> MEMORANDUM <br /> <br />DATE: February 7, 2018 EDC Agenda Item 4.B <br /> <br />TO: Economic Development Commission Chair and Commissioners <br /> <br />FROM: Matthew Bachler, City Planner <br /> <br />SUBJECT: Business Retention and Expansion Program <br /> <br /> <br />Background <br /> <br />The 2018 Work Plan includes developing a strategy and long-term plan for the Business <br />Retention and Expansion (BRE) program in the first quarter of the year. The EDC also has a goal <br />of creating a priority list for businesses to complete visits with in 2018. These visits are expected <br />to be completed during the second through fourth quarters. Staff would like to begin the <br />discussion on a strategy for the BRE program at the meeting on February 7th. <br /> <br />Discussion <br /> <br />The goal of a BRE program is to retain existing businesses within a community and to help them <br />grow. From an economic development standpoint, this approach is seen as a more efficient use <br />of staff and public resources compared to trying to recruit new businesses to an area. BRE <br />programs have different forms depending on the type of agency completing the work and their <br />intended goals. For example, the program managed by Greater MSP, which is an economic <br />development partnership focused on job growth and capital investment in the 16-county <br />Minneapolis-St. Paul region, will have different goals than the Arden Hills program. <br /> <br />An important component of a successful BRE program is building strong relationships with <br />businesses within the community, and the business visits completed by the EDC play a critical <br />role in this. There are three main objectives for completing these visits: <br />• Establish open lines of communication between businesses and city departments and <br />provide excellent customer service <br />• Respond to immediate problems affecting a specific business, for example the need to <br />lease additional space <br />• Identify broader issues that may be limiting business success, for examples issues with <br />infrastructure or outdated regulations, and develop a response plan