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06-18-07 Item 2B, EDC Plan Presentation
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06-18-07 Item 2B, EDC Plan Presentation
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Item 2B, EDC Plan Presentation
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6/18/2007
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<br />16) Information Assembly and Readiness. <br /> <br />Having accurate and up to date information is critical for program <br />success. There are two places where a community can obtain a <br />competitive advantage in economic development; with the accuracy of <br />their data and the speed of their responses. We would recommend <br />that focusing on this capacity be a higher emphasis at this time as <br />opposed to actively marketing the community. This information <br />should be compiled and attractively packaged in a marketing folder <br />that can be easily distributed. <br /> <br />17) Network Development. <br /> <br />The development of a strong, strategic network is essential for the <br />near term marketing success of Arden Hills. A substantial amount of <br />lead generation occurs from the State Department of Commerce. <br />Lesser amounts of leads are generated from the utility company and <br />others come from the development community. These three sources <br />should be the primary source of lead generation for the Arden Hills in <br />the near future (1-3 years). Leveraging these sources can occur in <br />two ways. The simplest is introductory meetings conducted by the <br />city's economic development staff with the leaders in those three <br />sources listed previously. City staff should have an entertainment <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 />The EDC also recommends involving surrounding communities to lead <br />an area-wide effort. <br /> <br />18) 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 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 /> <br />The EDC also recommends reviewing and expanding joint marketing <br />opportunities such as with the Twin Cities Chamber and Visit <br />Minneapolis North, for example. <br /> <br />Strategic Plan for Economic Development Page 13 of 20 <br />\\Metro-inet.us\ardenhills\Admin\CommiUees\Economic Development Commission\AH Strategic Plan - Final 5-16-07.doc <br />
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