11-7-12 EDC Minutes - Laserfiche WebLink

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EDC Minutes November 7, 2012 Page 2 of 7 I Community Development Hutmacher asked whether the EDC was interested in assisting with the economic development portion of the video and if so, what things the EDC felt should be conveyed in the video and what specific businesses or areas should be highlighted. Commissioner Erickson indicated he felt they should focus on the large businesses and also have an example of small and medium size businesses flourishing within the City. He also indicated they could highlight the corporate campuses and how they fit into the community and highlight that the City is only 15 minutes from either downtown area. Council Liaison Werner suggested that the Mounds View schools and Bethel College be highlighted as well. Community Development Director Hutmacher informed Commissioners that the video would be posted on the website and feels this would be a good resource for residents or businesses considering moving to Arden Hills. It was the consensus of the commission that they would be interested in assisting with the video. • C. Economic Gardening Community Development Director Hutmacher reported that economic gardening is an up and coming strategy for economic development. This approach focuses on stage 2 businesses,which are businesses that are past the start-up stage and have a lot of growth potential. These stage 2 businesses are the businesses that create the most jobs and have the most growth potential. She indicated Hennepin County did a pilot program and selected 15 stage 2 businesses. Each business received 50 hours of technical research assistance and also attended round table meetings which were facilitated by the Edward Lowe Foundation. She reported Hennepin County received positive feedback from the businesses in the pilot program. The businesses indicated the pilot program was, in fact, helpful and created a peer group for growing businesses. Commissioner Erickson questioned the cost associated with a program such as this. Community Development Director Hutmacher indicated she believed that Hennepin County's cost was $150,000 ($10,000 for each business) and that they used their economic development funds so there was no cost to the City. She, however, is not sure if Ramsey County has the same resources as Hennepin County. Commissioner Altstatt questioned whether staff should actually approach the County to do this 411 since it was not a City initiative.