Date: November 16, 2017
To: Members of the Economic Development Authority
From: Nate Carlson, Economic Development Coordinator
Chris Heineman, Community Development Director
Title
EDA 2018-2020 Work Plan Review
Body
Summary and Action Requested:
Review Draft Work Plan for EDA and provide direction to staff.
Background:
The EDA held a Strategic Planning session on August 24 & 25, 2017. Craig Rapp, the same consultant for the Council Strategic Plan, facilitated the meeting. Over the course of the 2-day session, EDA Board members discussed the strengths and weaknesses of Northfield's economy as well as the opportunities and threats the City of Northfield may face in the future.
Staff provided EDA board members with the survey results from 126 business/property owners as well as direct comments from the EDA listening session. EDA board members reached consensus on six strategic priorities. The priorities included focusing on Business Expansion, Business Retention, Workforce, Communication, Redevelopment and Infrastructure. A summary of the EDA Strategic Plan (including these six strategic priorities) is attached for your reference.
Each priority had three desired outcomes and three key outcome indicators, which provide a greater depth of focus and attention for the EDA. An example of a desired outcome and key outcome indicator is as follows: Desired Outcome that "Outside businesses and developers think of Northfield as a premier opportunity" with the key outcome indicator of "Contact with businesses and developers made by staff."
Staff has been working on development of the strategic initiatives and action plans that addresses the strategic priorities. These actions steps are incorporated into the EDA Work Plan document for 2018 - 2020 (see attached). Staff completed several target metrics to allow for EDA Feedback. For example, staff believes a goal of five new commercial businesses by 2020 and 2 new industrial businesses by 2020 is an ac...
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