Attachment D by Jody Gunderson

Attachment D

COMPLETE LOAN AND CLIENT OVERVIEW Business

Incentive Given

Amount Awarded

Date Incentive was Given

Requirements/Notes

Speech Gear

JOBZ

Dec-05

Add 35 jobs @ 100% Rice Cty median wage by 12/07

Number 46

Date Dec-07

Number 7

Date May-08

# of Total Jobs Projected

# of Jobs Created at Follow-up

JOBZ

Jul-06

Must create 50 jobs in 36 mos; $700,000 in capital investment

May-09

May-08

MDL

$75,650

May-06

Must create or relocate 25 jobs & $700,000 in remodeling w/i 1 yr to forgive loan, per CC Resolution 2006-034

May-07

Strobel-Warner: Pharmaceutical Solutions

JOBZ

Oct-07

Add 1 job @ 100% Rice Cty median wage by 10/09

Oct-09

May-08

Strobel-Warner: Veterinary Provisions

JOBZ

Aug-07

Add 5 jobs @ 100% Rice Cty median wage by 8/09

Aug-08

May-08

Strobel-Warner: Veterinary Pharmacy Corp.

JOBZ

Oct-07

Add 1 job @ 100% Rice Cty median wage by 8/08

Oct-09

May-08

Jan-08

Create and maintain 15 jobs at Rice County pay level of 100% median wage, per BSA

Jan-09

Mar-10

Perkins

JOBZ

Upper Lakes Foods MDL

$100,000

Mar-08

Purpose of loan is to purchase real estate. Loan forgiven 50% at time of real estate closing. Remaining note forgiven after the creation or transfer of 40 FTE jobs to the City of Northfield w/i 2 years.

Dokmo

MDL

$51,000

Feb-94

Loan repayable at 4.5% interest, monthly payments until 2/09. Loan used to acquire property for car dealership. Total amount repaid will equal $70,226.14

Lubbers

MDL

$68,000

Apr-95

Loan repayable at 4.5% interest, monthly payments until 4/2010. Loan used to acquire property for commercial development. Total amount repaid will equal $93,636

MDL

$75,000

Feb-04

Loan for costs associated with the expansion of the Larson Building, forgivable upon completion of the Project, including housing units on 2nd level of new addition, site improvements such as infrastructure and utilities, demolition, landscaping and relocation costs. Certificate of completion issued 2/08. Loan forgiven.

DRL

$75,000

Feb-04

Loan repayable p y at 5.5% interest,, monthlyy payments p y of 612.81 until 1/09,, lump p sum balance due 2/09. Loan used for costs associated with expansion of Larson Bldg. Total amount repaid will equal $93,235.53

Culvers

MDL

$50,000

Aug-08

$50,000 loan repayable at 5.5% interest, over 15 years, monthly payment $408.54

Northfield Development: Medical Arts

DRL

$50,000

Sep-98

Original loan repayable at 7.5%; was refinanced in 3/04 to 5.15%. Due in full 9/08. Loan used for renovations to the Medical Arts Building.

JB Enterprises

DRL

$10,000

Sep-04

Loan repayable at 2.25% (1/2 prime rate) interest, monthly payment of $93.14 until 9/2014. Loan used for interior and exterior renovations to 501 Division. Total amount repaid will equal $11,176.80

Central Block Building, LLC

DRL

$15,000

Aug-05

Loan repayable at 3% interest, interest monthly payments of $269 $269.53 53 until August 2010 2010. Funds to be used to fix the roof on the building.

Jekkl-Larson Building

Aleton, LLC

DRL

$50,000

Aug-05

Loan repayable at 4.75% interest, monthly payment of 388.92 until 8/2020. Loan used for exterior renovations to 315 and 317 Division. Total amount repaid will equal $70,005.60.

Northfield Historical Society

DRL

$75,000

Oct-05

Loan repayable at 5.5% interest, monthly payments of $612.81 until 10/2020. Loan used for roof repair and interior renovation and expansion. Total amount repaid will equal $110,305.80.

Conam LLP

DRL

$25,000

Mar-06

Loan interest only first 12 mos, then amoritized for 4 years = 5 year loan. Interest at 1/2 prime rate, 3.75% fixed. Loan used for operating expenses. Total amount repaid will equal $27,898.20.

Cocoa Bean

DRL

$15,000

Jul-07

Loan repayable at 4.125% 4 125% interest (1/2 prime) prime), monthly payments of $277 $277.09 09 until 7/2012. Funds to be used to upgrade/repair plumbing, floor tile and ceiling tile in new store location. Total amount repaid will be $16,625.40

ID Insights

DRL

$50,000

Oct-07

Forgivable loan upon documentation of 18 new jobs and 6 relocated jobs within 36 months; must also have continued operations in Nfld for same 36 mo. period;

Sep-10

DRL

$15,000

Dec-07

Loan repayable at 3.63% interest (1/2 prime), monthly payments of $202.86 until 12/2014. Funds to be used to puchase furniture, fixtures and inventory. Total amt repaid will be $17,040.24.

$5,000

Dec-07

For off-setting start-up costs such as marketing, supplies and computer equipment

$5,000

Feb-06

For advertisements with local media

To fund computer upgrades and development of marketing/advertising materials

15 (this is not a mandate of the grant)

2011 (this is not a mandate of the grant)

Nov-07

Sketchy Artist

Northfield Conoco Badbrain Computers

$5,000

Jul-06

Northfield Dance Academy

$5,000

Aug-06

For advertisements with local media

Artistic Stone Work

$5,000

Jan-07

For off-setting start-up costs such as marketing, supplies and computer equipment

Contented Cow

$5,000

Feb-07

Art on Water

$5,000

Jun-07

Must use funds for marketing, space improvements, legal & tax consultations, signage, web/internet system; must add 3 jobs

g School Northfield Skating

, $5,000

p Sep-07

Must use funds for marketing, Professional Development, scholarship fund, special events; Must create 3 jobs

Vivus Archetecture

$5,000

Feb-09

purchasing business and project management software

Sisters Ugly

$3,750

May-09

purchase of services allowing the company to transition a portion of their retail operation to e-commerce

Glass Garden Beads

$5,000

Jun-09

for the purchase of new equipment and costs associated with the expansion of their production space

Attachment D

Business

Incentive Given

Amount Awarded

Date Incentive was Given

Requirements/Notes

StrataPoint Inc.

MDL

$50,000

Sep-09

$50,000.00, at 3.25%, over a period of five years for use as working capital

New Division Development

DRL

$75,000

Nov-08

Loan repayable at 4.5% interest, monthly payments of $573.74 until 11/2023, total Financing Charge $28,274.42 Loan used for costs associated making inprovements to the Bldg. Total amount to be repaid $103,275.

Butler's Butler s Inc Inc.

DRL

$20 000 $20,000

Oct-09 Oct 09

Loan repayable at 1.625%, montly payments of $347.28 until October 2, 2014. Proceeds to be used to purchase business assets.

Redoux Homes Inc.

$5,000

Mar-10

Purchase of equipment to expand and grow their business operations.

Buzz Salon

$3,312

Nov-11

Hardware and software upgrade including web development p

Diggs

$5,000

Nov-11

Purchase of equipment to expand and grow their business operations.

Mandarin Garden

$1,870

Jun-11

Sign improvements for their restaurant.

Northfield Atheletic Club

$5 000 $5,000

Nov 11 Nov-11

P rchase of eq ipment to e pand and gro siness operations Purchase equipment expand grow their b business operations.

Oct-10

Max. loan amount $20,000.00, Max. terms of loan 24 months, annual interest rate 1.5%. Loan is structured as a Balloon payment with all principal and interest accrued due at the end of 2 year period or negotiated term of loan.

Aescendant Accessories

Chapati, Inc

Froggy Bottoms

Hvistendahl, Moersch,Dorsey

Jekkl Ltd

Larson's Printing

Manawa LLC

DRL

$1,100 Oct-10

Oct-10

$8,600

$20 000 $20,000

$20,000

$18,100

$20,000

$13,791

West Bank Properties

DRL

$20,000

Quarterback Club

MDL

$11,808

Northfield Historical Society

MDL

$60,000

Apr-11

Eco Garden

MDL

$24,000

Apr-11 Apr 11

Master Development Loan Microgrant Downtown Revolving Loan

MDL MG DRL

Forgivable Loan conditional upon a 50% match

Forgivable g Loan conditional upon p a 50% match

# of Total Jobs Projected

# of Jobs Created at Follow-up

Number

Date

Number

Date

Attachment D

Annual Report

NORTHFIELD ECONOMIC DEVELOPMENT AUTHORITY

20 08

Attachment D

Relationship Building & Communication Subcommittee Jim Pokorney EDA Director In 2008, the Northfield Economic Development Authority made significant strides toward utilization of its economic development partners. A brief narrative has been provided to outlining the EDA’s relationship building initiative. Northfield Chamber of Commerce: The EDA co-sponsored a marketing series with Northfield Chamber of Commerce which was designed to provide continuing education for local businesses. Additionally, Northfield’s Chamber Director, Kathy Feldbrugge also arranged a meeting with Kevin Kelleher, Southeast Minnesota Business Development Representative for the Department of Employment and Economic Development (DEED). The intent of the meeting was to introduce Mr. Kelleher to the new EDA Director and discuss issues that are important to the City of Northfield. The EDA President and Director attended the Chamber’s strategic planning meeting on November 19, 2008. The Chamber Board expressed their desire to enhance its working relationship with the EDA and collaborate on issues that are important to the economic growth of Northfield. Xcel Energy: The EDA Director, City Administrator, and Community Development Director met with Glen Kuhl and Ken Stabler, representative of Xcel Energy, to discuss the City’s plans for annexation and other economic development issues important to the City. The Xcel Energy representatives believe Northfield need’s to develop areas that are “shovel ready.” They were also very supportive of the City’s efforts to position itself for future economic opportunity, and expressed their company’s willingness to financially participate in the EDA’s economic development marketing initiatives. Rice County Development Corporation: The EDA Director met on a number of occasions with Rice County’s Economic Development Director, Deanna Kuennen, and discussed various issues affecting Northfield and prospects that have expressed an interest in the community. Rice County Officials: In November the EDA Director and Northfield City staff met with Rice County Supervisor Galen Malecha, Rice County Administrator Gary Weiers, and Rice County’s Economic Development Director, Deanna Kuennen to discuss each entity’s priorities. Those attending the meeting pledged to schedule regular meetings throughout the next year to encourage open communication and mutual cooperation. Northfield Enterprise Center: Throughout the year the NEC has reviewed and provided a recommendation to the EDA on loan applications submitted by businesses seeking to obtain financial assistance. The NEC Director, Blake Abdella has also attended the Community Venture Network as a representative of the Northfield EDA.

Northfield Economic Development Authority | 2008

Attachment D

Relationship Building and Communication

Northfield Downtown Development Corporation: Representatives of the EDA have attended the NDDC Blockhead meetings throughout the year. These meetings have provided an opportunity for the EDA to better understand the iniatives of the NDDC. The Blockhead meetings have also afforded a networking opportunity for the EDA Director and Board members. The EDA Infill Subcommittee has also participated in the strategic planning initiative of the NDDC. Regional Cooperation: In October of 2008, the Northfield EDA was approached with a unique opportunity to convey its support for a project that would benefit both the School District and neighboring township. At the October 9, 2008, EDA board meeting representatives of the Prairie Creek Charter School presented their expansion project to board members. The school has experienced tremendous growth and is currently constrained by the size of the building and thus is sought out conduit financing for their expansion project. Caroline Jones, Director of Prairie Creek Charter School, noted they have grown from 54 students to over 120, and currently have a waiting list of 60-100 students. Of the 120 students approximately 85 of them are from Northfield. She presented a site plan of the proposed plans and stated that they had recently received a federal grant of $500,000 to remodel parts of the building. The final project is estimated to be about $2.2 million. The School had originally planned to have Eureka Township issue the bonds, but later was informed that the township did not qualify for this type of debt financing. The City Council held a public hearing on November 3, 2008, allowing the EDA to serve as the lead agency issuing the conduit financing and the EDA approved the issuance of the debt at its November 20, 2008 Board meeting. CURRENT PARTNERSHIP STATUS Drawing upon the insights gained from their annual strategic planning session on December 11, 2008, the EDA has begun to clarify expectations for its economic development partners for 2009. The EDA Board has determined that the upcoming year will provide a challenging economic climate for business and local governments, and thus the EDA is must strive to maximize the use of its limited financial resources. At its December 18, 2008 regular board meeting, the EDA Board approved funding for the Northfield Enterprise Center and Northfield Downtown Development Corporation. Although the Chamber of Commerce does not receive annual funding, the EDA has financially sponsored Chamber initiatives. All the development partners the NDDC, the NEC and the Northfield Chamber of Commerce are essential components to helping the EDA achieve its mission. In the past the EDA has supported the endeavors of these organizations in order to improve relations with area businesses, create jobs, promote the community, and generally enhance the economic vitality of Northfield. The EDA stated their desire to strengthen its relationship with its economic development partners in 2009 while at the same time seek out even greater collaboration between the Chamber, NDDC, and NEC in an effort to present a united front on issues important to the City of Northfield. While each of the partner organizations has a distinctive role and mission, the EDA will encourage them to define ways that they may complement each other and assist the EDA accomplish its economic development initiatives.

Northfield Economic Development Authority | 2008

Attachment D

Business Retention & Expansion Subcommittee Rick Estenson EDA Director Northfield Chamber NDDC A healthy and vibrant local economy depends largely on the wellbeing of a community’s existing firms. The growth and survival of those firms can be viewed as a measure of the community’s economic environment and the local support provided by its economic development partners. In fact, it is much easier and cost effective to retain a business than it is to recruit a new company. National statistics indicate 60-80% of job creation occurs within the existing business sector. When businesses stay and expand in a community it speaks well of the political and economic environment, and will assist the City in its recruitment of new companies. The Northfield Economic Development Authority recognizes the importance of knowing the financial conditions of its existing businesses. In order to better represent the businesses that reside within the City of Northfield, the EDA has developed a Business Retention and Expansion (BR&E) program. The BR & E program has number of objectives including:

 Evaluate the current economic condition of the company  Identify issues that may assist the company expand their markets  Discuss issues and potential solutions for impediments a company may have that would prevent them from expanding their local operations

 Inquire about their perception of the City  Current workforce needs  Identify opportunities to attract companies which would enhance local business operations It is important to note that firms which are considering moving to a community not only read local newspapers, but often speak to existing firms about the support they’ve received from the community. The EDA strives to be a resource for local companies and a conduit to their business solutions.

Northfield Economic Development Authority | 2008

Attachment D

City of Northfield Economic Development Authority 2009 Work Plan

Adopted February 12, 2009

Attachment D

Economic Development Authority (EDA) WORK PLAN 2009

BUSINESS RETENTION AND EXPANSION Subcommittee:

Ross Currier, NDDC; Kathy Feldbrugge, Chamber (Co-Lead)

Support Organizations:

Steve Engler, David Van Wylen, Marty Benson, EDA; Blake Abdella, NEC

Description

A healthy and vibrant local economy depends largely on the well-being of a community’s existing businesses. The growth and survival of those firms can be viewed as a measure of the community’s economic environment and the local support provided by its economic development partners. It is much easier and cost effective to retain a business than it is to recruit a new company. National statistics indicate 60-80% of job creation occurs within the existing business sector. When businesses stay and expand in a community, it speaks well of the political and economic environment, and will assist the City in its recruitment of new companies. It is imperative for the EDA to be aware of the financial condition of its existing businesses so that it can provide support, if necessary. The EDA and its economic development partners need to have a well developed Business Retention and Expansion program (BR&E) to respond quickly to the needs of Northfield’s business community. It is important to note that firms which are considering moving to a community often speak to existing firms about the level of support they’ve received from the community before making site specific decisions.

Strategy

 The EDA will develop and/or expand existing data base information to track the economic condition and concerns of local employers  The EDA will explore other potential growth opportunities during business visits as well as discuss issues which affect their day-to-day operations  The EDA shall serve as a resource for local companies and a conduit to their business solutions  Efforts will be undertaken to champion and acknowledge the positive impact local companies have on Northfield’s economic health  As a part of its business retention and expansion program, the EDA will elicit information from local business leaders about what can be done to improve the overall quality of life for its employees  The EDA and its economic development partners will seek out opportunities to network with St. Olaf and Carleton Colleges’ alumni, staff, and families.

Measurement

Enhance local business database to track local business conditions Coordinate and jointly attend business visits with Northfield Chamber of Commerce and NDDC Help solve immediate business concerns; connect appropriate City Staff to assist in understanding the needs of the company and attempt to provide solutions Demonstrate community support for local firms through the use of press and other publications

City of Northfield | Economic Development Authority

Attachment D

NORTHFIELD ECONOMIC DEVELOPMENT AUTHORITY

Annual Report

2009

Attachment D

BUSINESS RETENTION AND EXPANSION

usiness retention and expansion efforts have been largely conducted through the EDA’s partner organizations, particularly the Northfield Downtown Development Corporation and the Northfield Area Chamber of Commerce. These two organizations have conducted visits to small and medium-size business in the area, assessing obstacles to business expansion and providing support in helping business owners work with the City to sustain and expand their businesses. The Economic Development Director, with EDA members and other City staff, focused attention on building stronger relationships with Northfield’s larger employers, working with Malt-O-Meal, Cardinal Glass, Veterinary Provisions, Multek and Perkins Specialized Transportation Contracting on a wide range of issues, from interaction with governmental bodies to property acquisition and financing. In a difficult economic period, the EDA staff GOAL S TATUS COM M ENT support for businesses seeking state and federal grant Enhance local business database The project was deferred until the completion Deferred funds was vitally important. to track business conditions of other initiatives. The largest single grant Coordinate and conduct business The EDA’s partner organizations were active proposal is an application In progress visits with partner organizations in conducting the majority of business visits. for federal stimulus funds to help Cardinal Glass finance a The ED staff and the EDA Board were active major expansion into solar Help resolve immediate business in working with area businesses to identify technology. At year-end, that concerns by working with approIn progress problems and connect with the relevant City proposal was pending with priate City staff staff to resolve them. the state agency responsible for the administration of Demonstrate community support Media relations activities were initiated at the the funds. for local firms through the media In progress end of 2009, and will continue in 2010. and other publications

PARTNERSHIP PROGRAMS AND RELATIONSHIP BUILDING

he EDA extends its reach through partnerships with other organizations. Funding for the Northfield Downtown Development Corporation (NDDC), the Northfield Enterprise Center (NEC), the Northfield Area Chamber of Commerce (Chamber) and the Southeast Minnesota Initiative Fund (SMIF) is designed to support economic development activity that supports and strengthens Northfield’s business climate. The EDA also works very closely with Rice County Economic Development on its business recruitment efforts. These organizations collaborate on business retention and expansion visits, produce workshops for business owners and entrepreneurs, sponsor community events that draw people to Northfield, and assist with studies of Northfield’s business environment.

OR GANIZATION

FUNDING CONTR ACT

OBJ ECTIVES

Northfield Downtown Development Corporation

$40,000

To support a wide range of initiatives to support downtown businesses and maintain promotional activities that bring consumers downtown.

Northfield Enterprise Center

$53,500

To support business development consulting and services to entrepreneurs and start-up businesses.

Northfield Area Chamber of Commerce

$6,000

To support ongoing Chamber visits to local businesses to explore needs.

Southeast Minnesota Initiative Fund

$4,000

To support continued involvement of the EDA and local Northfield businesses with SMIF.

NEC northfield enterprise center

Annual Report 2009

Attachment D

2010

Work Plan M ISSION S TATEMENT Operating under the authority of the City Council, the EDA shall be the chief economic development agency for the City.

G OALS Improve the economic condition of Northfield through appropriate commercial and industrial development, thus creating a higher tax base and further job opportunities, all in ways that meet the guidelines of the City’s Comprehensive Plan. Approved by the Northfield City Council Resolution 90-292, September 17, 1990

YEARS 2010 BOARD MEMBERS JENELLE TEPPEN, PRESIDENT STEVE ENGLER, VICE PRESIDENT RHONDA POWNELL, SECRETARY/TREASURER RICK ESTENSON JIM POKORNEY VICTOR SUMMA

2010 Economic Development Authority Work Plan Adopted, March 11, 2010 Resolution 2010-005

Jody T. Gunderson, Director • Northfield City Hall • 801 Washington Street • Northfield, MN 55057-2598 Direct 507.645.3018 • Mobile 612.968.6407 • Fax 507.645.3055 • Email Jody.Gunderson@ci.northfield.mn.us

Attachment D

20 YEARS BUSINESS RETENTION AND EXPANSION PROGRAM Nationally, 80 percent of new business growth is generated from existing companies. Without fostering an existing business program, your community's best companies could be your competitor's best prospects. The purpose of a business retention and expansion program is to establish relationships between community businesses and economic developers to strengthen existing companies, establish early warning systems to flag at-risk businesses that require assistance, and ensure that public programs meet local business needs. Business retention initiatives usually include a mechanism for linking expanding businesses with public programs designed to mitigate growing pains and regulatory issues. Retention programs involve educating the stakeholders, recognition events, headquarter calls, periodic surveys, interviews, and visitations with companies to evaluate the assets and opportunities. Many economic development professionals describe the importance of an existing business survey tool as “the ability to gather strategic information for marketing which should become a top priority for every development organization. Internal information resources should create opportunities and anticipate changes that impact businesses within a community. The emphasis of the retention survey instrument should be on capturing three types of information: customer satisfaction, predictive information, and marketing research.” Without an effective retention and expansion program, opportunities will be lost. Increasing the return on investment from your retention and expansion effort will enhance the value. The intent is to tap into the knowledge of area executives cultivating business strategy information that will identify opportunities for the community and economic development organizations to promote or enhance.

Northfield Economic Development Authority (EDA)

OBJECTIVES OF A BUSINESS RETENTION AND EXPANSION PROGRAM 1. To demonstrate to local businesses that the community appreciates their contributions to the local economy 2. To help existing businesses solve problems 3. To assist businesses in using programs aimed at helping them become more competitive 4. To anticipate future local business issues and trends and develop strategies to address these 5. To build community capacity to sustain growth and development 6. To specifically identify those businesses poised to expand that need assistance to grow 7. To develop collaborative relationships for participating in comprehensive long-range retention and expansion activities 8. To identify opportunities to attract support businesses

2010 Work Plan

Attachment D

20 YEARS BUSINESS RETENTION AND EXPANSION PROGRAM…CONTINUED Summary of 2010 Initiatives 1. Enhance local business database to track business conditions 2. Conduct BR&E visits with top ten employers 3. Facilitate the growth and expansion of existing businesses by advocating on their behalf 1. Enhance local business database to track business conditions: The Northfield Chamber of Commerce, Northfield Downtown Development Corporation, and the Northfield city staff have all made it a practice to meet with representatives of existing businesses throughout the year and discuss the economic status of their company. During those visits a considerable amount of information is collected, but is not documented in a standardized format. The EDA will meet with its partners to determine if a standardized format can be developed. This would provide a tool for the economic development organizations to better monitor the economic conditions of Northfield’s businesses and address any on-going issues they may be experiencing. 2. Conduct BR&E visits with top ten employers: Over the last couple of years the nation’s businesses have experienced tumultuous economic times. Given the uncertainty of the economy, it is more important now than ever before that the City foster a strong working relationship with Northfield’s companies. The Rice County Economic Impact Analysis completed in November of 2009 clearly demonstrates the ripple affect major employers have on the retail and service sectors of our local economy. Northfield’s city staff, NDDC, and Chamber of Commerce will meet with the community’s major employers and determine what, if any, assistance they require to strengthen and grow their operations. 3. Facilitate the growth and expansion of existing businesses by advocating on their behalf: In recent years, a number of Northfield’s companies have expanded their operations in the community. The expansion of those companies has occurred through collaboration between the City and businesses. However, there are also examples of the businesses expanding their operations to locations outside the City of Northfield. The EDA will take a proactive role in advocating for Northfield companies on issues that are important to their operations, and seek for solutions that encourage business expansions locally.

Northfield Economic Development Authority (EDA)

2010 Work Plan

Attachment D

NORTHFIELD ECONOMIC DEVELOPMENT AUTHORITY

Annual Report

2010

Attachment D

BUSINESS RECRUITMENT, MARKETING, AND PUBLIC RELATIONS

he Business Recruitment, Marketing, and Public Relations work group included EDA members Pokorney, Pownell and Teppen. This group’s goals for improving the economic conditions of Northfield were to: »Continue development of print materials targeted at specific development audiences; »Enhance marketing through the City’s website, including full implementation of StrataPoint software; » Use the business park master plan market analysis to develop a citywide business recruitment program; » Improve media relations; » Develop marketing materials with which to solicit infrastructure funding; » Organize an employer recognition event; and » Develop and community video to promote Northfield.

ACCOMPLISHMENTS Three issues of a quarterly EDA newsletter was created to reach a target audience of real estate developers and brokers in the region. While material related to the business park master planning process was posted through a dedicated project website, enhancements to the City’s website (including the addition of StrataPoint software) was not addressed. The work group initiated regular meetings with the local newspaper and radio stations to promote community awareness of EDA work, particularly the public events related to the business park master planning process. Significant efforts to solicit infrastructure funding or to host an employer recognition event were deferred due to economic conditions. Staff continues to monitor state and federal funding programs from which Northfield will eventually seek funds. Blue Moon Productions is nearing completion of a community video highlighting Northfield’s distinctive character. The EDA will use these videos in on-going efforts to make real estate and business developers more aware of the community’s strengths. Other groups involved in the project – including Northfield Hospital and Clinics, Carleton College, St. Olaf College, the Northfield Area Chamber of Commerce, Rebound Enterprises, the Archer House and Northfield Automation Systems – will promote the videos on their own websites.

BUSINESS RETENTION AND EXPANSION

he Business Retention and Expansion work group included EDA members Engler and Estenson. This group’s goals for improving the economic conditions of Northfield were to: » Develop a local business database to track business conditions; » Conduct business retention and expansion visits with top ten Northfield employers; and » Facilitate growth and expansion of existing businesses by advocating on their behalf.

ACCOMPLISHMENTS The Business Retention and Expansion work group outsourced its effort to build relationships with existing Northfield employers to the Northfield Downtown Development Corporation. The NDDC conducted a dozen formal employer visits and held a number of downtown forums for building and business owners concerned about economic issues and Northfield community development. The work group outsourced its business recruitment and incubation effort to the Northfield Enterprise Center, provide consulting services to approximately 50 local businesses and 15 individuals. The NEC also provided reviews of the business plans, financial statements and grant proposals of applicant for micro grants and the emergency flood-related loans. Through a small, ongoing investment in the Southeast Minnesota Initiative Fund, the EDA continued to provide support that enabled local businesses to obtain grant funding to explore promising ideas, like the Riverwalk Market Fair. Annual Report 2010