HomeMy WebLinkAbout[05d] Formal Review Process: Business Prospects Locating ElsewhereDATE: January 119, 2011
MEMO TO: St. Joseph Economic DDevelopment Authority
FROM: CynthiaSSmith-Strack, Municipal Deevelopment GGroup
RE: Formal Review Processs: Business PProspects Locating Elsewhhere
Backgroundd
I received ann inquiry from an elected offficial regardinng a process for determining or reviewinng why
developmentt leads opted to locate in aa community oother than St. Joseph. Thee elected official is
specifically reecommendingg a formal proocedure be esstablished so as to providee the City/Couuncil with
sufficient knoowledge as too how to improove or becomme more comppetitive in seccuring developpment
leads.
Although we (City or EDA) have not peerformed formmal “reviews” ffor projects noot moving forwward, we
have discusssed such inforrmation as obbtained anecddotally and thrrough personal follow-up wwith
previous leadds. Exampless include businness financing falling throuugh, taxes/feees being too hhigh, land
prices being too high, gettting a better ddeal elsewherre, deciding too stay in theirr current locattion, and
having a feeling of a ‘betteer fit’ in another communityy. In addition the EDA/Cityy has followedd up on
occasion (i.e. comparing ffees/utility ratees with area ccommunities and retainingg competitive tax rate).
Action:
A discussion about the meerit of establisshing a formaal ‘review’ proccedure and aallocating resoources
thereto is kindly requestedd.
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