HomeMy WebLinkAbout[06] EDA Annual Report Summary2/18/2014
EDA ANNUAL REPORT TO
THE CITY COUNCIL
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2013 EDA Annual Report
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• The Year In Revie
The EDA met a total of twelve rimes in 2013. The EDA's regular meeting
date is the 4' Wednesday of the month at 5 p.m. Meetings are held in the
lower level conference room at St. Joseph City Hall. The meetings are open
to the public.
The EDA employs a variety of metrics to gauge progress and efficacy.
Continued progress to enhance the commercial /industrial portion of the
City's total value, thereby diversifying the tax base, providing employment
opportunities, and addressing the needs of the community is evident. Total
business new construction value added since 2000 is nearly $42million.
The percentage of the City's market and tax capacity values related to
commercial and industrial property continues to increase on an annual
basis.
2013 EDA Annual Report
0
• The Year In Review
The St. Cloud Metropolitan Area continues to recover from unemployment
highs charted during the Great Recession; however the recovery pace is
more measured than elsewhere in the State.
Sales and use data for the City of St. Joseph over the previous several years
illustrates continued gains in economic progress and activity. Gross and
taxable sales continue to increase and trend positive. Gross sales across all
industry sectors in St. Joseph in 2011 (latest available data) totaled
$110,356,580; taxable sales increased five percent over 2010 to
$23,805,o66.
Twelve (12) new projects arose in 2013; follow up with sixteen (16) projects
from previous years occurred. Of the twenty -eight (28) leads, nine (9)
moved forward, sixteen (16) are stable /on- going, and three (3) ultimately
moved elsewhere (one) or were abandoned for lack of financing (two).
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Organizational Development
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2013 EDA Annual Report
New Commercial Construction Value
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2013 EDA Annual Report
Composition Market and Tax Value
OMPOSITION
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2012
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2013 EDA Annual Report
Recoverypace moremoderate Rehoundingfromthe Great Recession,
in St Cloud than other MN. MSA's c onstructionsector recovering
2013 EDA Annual Report
Housing
Data
NEW HOMES',
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Still slow
Continued gains in econoinic, activity;
Year over year s % increase m sales
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L3 EDA
• Extension of sanitary sewer to I-
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• Market outreach
• Downtown revitalization
• Respond to inquiries and pursue
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viable leads
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• Implement and administer
technical and financial assistance
programs