HomeMy WebLinkAbout[09] Business Retention and Expansion Strategies Administrator Date: March 21, 2012
Judy Weyrens Memo To: Members of the EDA
Mayor City Administrator Weyrens
Rick Schultz Memo From: Cynthia Smith - Strack, MDG, Inc.
Councilors RE: Business Retention and Expansion Strategies
Steve Frank
Bob Loso
Renee Symanietz Background.
Dale Wick During EDA discussion of 2012 goals /work items and the joint meeting with the City Council on
EDA February 22, 2012 a desire to renew focus on retaining and expanding existing businesses was
often expressed. To follow up on the discussion regarding BR &E programs, U of M Extension
Carolyn Yaggie— Educator Adeel Ahmed will be attending the EDA meeting to provide insight on BRE options
Heinen available through the Extension Office in Central Minnesota.
Chad Davey
Steve Frank The U of M Extension BR &E Strategies Program focuses on both short-term and long -term
Tom Skahen objectives.
Dale Wick
Short-Term Objectives:
• Demonstrate community support for local businesses
• Solve immediate short-term problems
Long -Term Objectives:
• Increase the competitiveness of local businesses
• Establish and implement a community strategic plan for economic development
The purpose of the BR &E Strategies Program is to make local businesses more competitive by
evaluating and addressing some of their key needs and concerns. By addressing common
business concerns, the community insures a healthier future for itself. Businesses that stay
competitive are more likely to remain in the community and possibly expand. The program also
establishes an economic development plan for the community and a broad -based community
coalition to sustain long term economic development efforts.
Minnesota Extension BR &E Strategies Programs currently cover the following industries:
Manufacturing
Tourism
Dairy
Swine
Farming
Technology
Mixed Business (manufacturing, retail, services)
Specialized surveys are available for each of these industries. The surveys were carefully
developed with the assistance of business leaders and development professionals in each
sector.
While the overall process for implementing each type of program is similar, the make -up of the
local Task Force varies with the type of program. For example, the business persons and
development professionals in a tourism project will likely be different than those in a
manufacturing or dairy program.
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Every local Minnesota Extension BR &E Strategies Program includes three major groups of
volunteers:
• Leadership Team
• Task Force
• Business Visitation Teams
These groups visit firms and make decisions about what should be done to help local
businesses survive and expand.
The Leadership Team (usually 4 or 5 persons) promotes the program to the community,
coordinates task force meetings, and organizes immediate follow -up to the survey results. The
Leadership Team also arranges for the training of Business Visitation Teams.
The Task Force is a group of local community leaders. It should include representatives of
business, government, education, economic development organizations and other well -
respected, influential community leaders. The Leadership Team is part of the Task Force.
Business Visitation Teams — two per team — visit two to four firms each. These teams are
made up of Task Force and Leadership Team members, educators, business people, retirees,
or other community members. The Task Force and Leadership Team decides the number and
types of firms visited.
Community players are supported throughout the program by Certified BR &E Consultants and
BR &E applied researchers who assist the local leaders with the organization and technical
research involved in the program.
Action:
This item is for information and discussion.
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