06-18-07 Item 2B, EDC Plan Presentation

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19) Individual Marketing. On rare occasions the community may opt to pursue its individualized market efforts. As stated before, these are very expensive and frequently result in little or no return on investment. However, for highly targeted instance where a niche opportunity presents itself, the community would be well served to have the capacity to pursue specific prospects by having the appropriate funds budgeted. Although the EDC recognizes the value in this initiative, we have determined this not to be a priority at this time. Summary Thoughts A successful strategic plan is, by definition, a usable plan - one that directs the City's economic development activities as well as its long-range view, and that yields meaningful improvements in effectiveness, capacity and relevance. To put it simply, not every plan is a strategic plan. A strategic plan is a tool that provides guidance in fulfilling a mission with maximum efficiency and impact. If it is to be effective and useful, it should articulate specific goals and describe the action steps as we have in this document. As a rule, most strategic plans should be reviewed and revamped every three to five years. This plan is no exception. In its own right, this plan's primary goal is to energize the Arden Hills EDC and to chart a course of action for the organization. This strategic plan for Arden Hills has addressed the needs of the community in economic development while taking strides to ensure that the common pitfalls for plan failure have been averted. As Arden Hills implements the plan in a logical, sequential manner, it will energize its economic development efforts, and with it the community as a whole. Strategic Plan for Economic Development Page 14 of 20 \\Metro-inet.us\ardenhills\Admin\Committees\Economic Development Commission\AH Strategic Plan - Final 5-16-07.doc