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<br />. <br /> <br />. <br /> <br />. <br /> <br />budget that allows them to take these people out for lunch or after <br />business meetings as they develop relationships with these individuals. <br /> <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 /> <br />22) Incentive Policy. <br /> <br />The community would be well served to draft an incentive policy <br />guiding the productive use of incentives in Arden Hills. This should be <br />conducted by the EDC in partnership with an outside consultant. As <br />this document is completed it is then presented to council for approval <br />and handed back to the EDC for implementation. Although it is a <br />document in writing, it is critically important that the EDC and City <br />Council understand that the incentive policy is a fluid document open <br />for interpretation on a project-by-project basis. <br /> <br />Middle: Years:..L=-.'1 <br /> <br />23) Decision Influencers. <br /> <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 /> <br />24) Joint Marketing. <br /> <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 abie 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 /> <br />Strategic Plan for Economic Development Page 21 of 25 <br />Final Drafl- Readv for Release Subject to Council Approval and Adoption <br />