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Home My WebLink About11-26-13F Lakeville AGENDA Economic Development Commission November 26, 2013 — 4:30 p.m. City Hall, Marion Conference Room 1. Call to order 2. Approval of October 29, 2013 minutes 3. Review and Discussion of Recommended 2014 -16 Strategic Plan for Economic Development 4. Update on Business Marketing Activities 5. Review of Met Council Preliminary 2040 Population and Household and Employment Forecasts 6. Directors Report 7. Adjourn Attachments October, 2013 Building Permit Report October Foreclosure Report from the Dakota County CDA "Largest U.S. food contract manufacturer Hearthside on the block," Reuters.com 10/28/13 "Greater MSP event highlights global demands, workforce development," Finance & Commerce 10/29/13 "With hiring up, Minnesota firms' unemployment insurance taxes drop," StarTribune 11/19/13 "Minnesota unemployment rate falls to six -year low," Finance & Commerce 11/21/13 LAM No, CITY OF LAKEVILLE ECONOMIC DEVELOPMENT COMMISSION MEETING MINUTES October 29, 2013 Chair Starfield called the meeting to order at 4:35 p.m. in the Marion Conference Room at City Hall. Members Present: Comms. Matasosky, Emond, Akason, Starfield, Smith, Longie, Ex- officio member Lakeville Area Chamber of Commerce Executive Director Todd Bornhauser, Ex- officio member City Administrator Steve Mielke. Members Absent: Comms. Schubert, Vlasak, Longie. Others Present: David Olson, Community & Economic Development Director; Adam Kienberger, Economic Development Specialist. 2. Approval of September 24, 2013 meeting minutes Motion Comms. Smith / Emond moved to approve the minutes of the September 24, 2013 meeting as presented. Motion carried unanimously. 3. Recap of 2013 Manufacturers Event Mr. Kienberger gave an overview of the Manufacturers Reception that was held at the Holiday Inn & Suites on October 22 "d . This annual event is coordinated by the City and sponsored by local utility companies to recognize and thank manufacturing and industrial businesses for being in Lakeville. The EDC discussed rotating the venue and suggested Brackett's Crossing Country Club for next year's event. It was also noted that it was great to see some new people and businesses attend this year. 4. Update on Downtown Parking Lot Improvement Projects Mr. Olson reviewed the Downtown parking lot improvement project concept rendering as prepared by WSB. Mr. Olson also discussed the possibility of doing some improvements to the sidewalk and public parking lot area in front of the Alternative Learning Center on Holyoke Avenue. Both projects would be funded with CDA TIF dollars. 5. Update on Strategic Planning Process Mr. Olson stated that there will be an EDC work session on November 12 at 3:00 p.m. to conclude the work being facilitated by Craig Rapp of Craig Rapp LLC. At 5:00 p.m. the City Council will join the EDC to review the work in progress and provide guidance on the draft 2014 -2016 Strategic Plan for Economic Development. Economic Development Commission Meeting Mirmfes, October 29 2013 Page 2 6. Update on Business Marketing Activities Mr. Kienberger provided an update on the Business Marketing Strategy and summarized some upcoming events along with recent events staff participated in to promote business development in Lakeville. 7. Director's Report Mr. Olson reviewed the Director's Report and provided an update on the growing number of new residential developments. 8. Adjourn Meeting adjourned at 5:30 p.m. Respectfully submitted by: Adam Kienberger, Recording Secretary am No. Lakeville City of Lakeville Community & Economic Development Memorandum To: Economic Development Commission From: Adam Kienberger, Economic Development Specialist Copy: David L. Olson, Community & Economic Development Director Steven Mielke, City Administrator Craig Rapp, Craig Rapp LLC Date: November 26, 2013 Subject: Strategic Plan for Economic Development The EDC had their second facilitated session with Craig Rapp on November 12th to work on the 2014 -2016 Strategic Plan for Economic Development. This session was followed by a joint work session with the City Council to receive comments and direction on the progress made to date. The attached information is the result of the two facilitated sessions and joint work session with the City Council. For the last two Strategic Priorities, staff and Mr. Rapp have suggested some Strategic Initiatives that weren't able to be addressed during the facilitated sessions. These draft Strategic Initiatives are noted in red (Enhancing a Pro - Business Climate and High Density Housing). Following approval of the 2014 -2016 Strategic Plan for Economic Development by the City Council, staff will begin development of a work plan with measurable results based on the Strategic Initiatives. Please review the attached Strategic Plan documents prior to the meeting and be prepared to discuss the results of the two facilitated sessions as we work towards completion of the 2014 -2016 Strategic Plan for Economic Development. Recommended Action: Review and discuss the draft 2014 -2016 Strategic Plan for Economic Development. Upon noting any suggested changes, staff recommends approval and forwarding it to the City Council for consideration. Economic Development Commission Strategic Plan 2014 -2016 Strategic Key Outcome Measure Target Strategic Initiatives Priority Indicator (KOI) High Skill, High High quality jobs New jobs over 200 btwn 1/1/14- a) Conduct mkt. analysis to determine target Wage Jobs $60k 12/31/16 mkts.- special emphasis- higher ed b) Develop strategy to leverage existing business partners, vendors, alliances for job creation c) Correlate incentive packages for high skill /high wage jobs with overall incentive strategy Infrastructure to Infrastructure Developer need 95% of time- has a) Develop detailed infrastructure plans to Leverage capacity and meet developer needs Opportunities mechanisms to b) Explore infrastructure financing methods meet needs c) Analyze provider -city partnership /relationship opportunities County support Cost sharing County supports & d) Initiate and participate in city- county shares cost 90% of discussions time Business Existing businesses Square footage 500k sq. ft. added a) Expand /enhance the business outreach Retention and of expansions 1/1/14 — 12/31/16 program Expansion Existing businesses Employment 300 jobs added b) Analyze expanded methods for increased growth 1/1/14 — 12/31/16 business contacts Existing businesses Retention 90 % of existing c) Evaluate city business expansion non - retail requirements for streamlining businesses retained opportunities Incentives and New business Leveraged 3 new businesses a) Expand marketing strategy to ensure Tools to Achieve development investment via tools /leverage alignment w/ Lakeville success factors and Success btwn 1/14 -12/16 current incentive policies b) Establish EDC /City Council consensus on incentive policies, assumptions, ROI, priority locations Enhancing a Pro- RE Developers Satisfaction w/ 90% satisfied- a) Continue and enhance surveys of Business Climate city processes survey contractors, developers, and businesses b) Develop a concise "development review process" document Existing businesses Business 90% good place to c) Conduct a professionally administered environment operate, expand, and statistically valid business survey locate every 3 years d) Create "internal brand champions" to market /communicate Lakeville's benefits internally High Density Housing Sites reguided for 12 scattered sites a) Adopt city "housing goals" Housing high density btwn 1/1/14- b) Develop an economic development 12/31/16 housing strategy C/I zoned districts C/I districts with All C/I zones c) Determine C/I high - density housine hsg allowed changed to permit demand hsg by 12/31/16 d) Create a plan to address expanded housing options in C/I zoning districts Economic Development Commission 2014-2016 Strategic Plan for Economic Development Summary Report November 2013 CRA1GRAPP, LLC IMPROVING ORGANIZATIONS & THE PEOPLE WHO LEAD THEM �PKAGO 40 East fvenue 41 Chi 1 L "D61 - ['�I'N '' a. C-! 320S lVQ, Lof<� Street t'14 fAmnP,ipo:1 Mkl' TOLL FREE: 830 - n 3 ® c-a.g'!'rrxgrapp.Ccrn Lakeville EDC Strategic Planning Summary November 2013 Date: November 22, 2013 To: David Olson, Community & Economic Development Director From: Craig Rapp Subject: Strategic Planning Summary The following is a summary of the strategic planning sessions held at City Hall on October 8, and November 12, 2013 with the Lakeville Economic Development Commission, City Administrator and EDC staff. The sessions focused on establishing strategic direction and focused outcomes. A facilitated process was used that produced six strategic priorities, a set of key outcome indicators for each priority, and a list of strategic initiatives that will guide follow -up action. Prior to the meeting, each participant was asked to complete a questionnaire - providing opinions on the strengths, weaknesses, opportunities and threats (S.W.O.T.) facing the community and organization. In addition, they were also asked to identify the highest priority issues confronting the city. The group process included three rounds of review and discussion: In the first round, the group identified the most frequently mentioned attributes in each category. In the second round, the groups compared strengths with opportunities and weaknesses with threats- to determine which opportunities would maximize strengths, and which weaknesses would be exacerbated by the threats. From this round, each group identified strategic priorities for further consideration. The full group then engaged in a discussion centered on determining which priorities were most important- based upon both the SWOT analysis and their own sense of community needs. In addition, they considered the Envision Lakeville guidance regarding economic sustainability - listed below: • Emphasize the attraction of businesses that can provide higher skill, higher wage, head of household jobs. • Retain existing businesses and facilitate growth and expansion • Provide a broad range of financial incentives to attract businesses that employ higher skilled, high wage jobs. • Support the aggressive transportation program that is in place to enhance economic development opportunities What emerged is a set of six strategic priorities. The priorities are: 2 Lakeville EDC Strategic Planning Summary November 2013 Strategic Priorities 1. High Skill, High Wage Job Creation 2. Infrastructure to Leverage Opportunities 3. Business Retention and Expansion 4. Incentives and Tools to Achieve Success 5. Enhancing a Pro Business Environment 6. High Density Housing The next step in the process was the development of Key Outcome Indicators (KOI's) for each strategic priority. Key Outcome Indicators reflect performance connected to a desired outcome. They are defined or each priority and include specific measures and targets related to a desired end state. The KOI's are: Key Outcome Indicators 1. High Skill, High Wage Job Creation a) Create an additional two hundred jobs with an average salary of $60,000 or greater by 12/31/2016 2. Infrastructure to Leverage Opportunities a) The City has the capacity and mechanisms to meet the needs of 95% of business prospects. b) Dakota County is engaged and supportive of our Economic Development efforts - reflected in polices and cost sharing for public improvements that impact our projects. 3. Business Retention and Expansion a) Existing businesses have expanded by 500,000 square feet by 12/31/2016 b) An additional 300 jobs have been added at existing businesses by 12/31/2016 c) 90% of non - retail businesses have been retained between 1/1/2014- 12/31/2016 Lakeville EDC Strategic Planning Summary November 2013 4. Incentives and Tools to Achieve Success a) Three new businesses choose to locate /expand based upon leveraged financial incentives by 12/31/2016 5. Enhancing a Pro Business Climate a) 90% of real estate developers doing business in Lakeville indicate satisfaction with city processes- determined by survey b) 90% of existing businesses indicate that Lakeville is a good place to operate, expand and /or locate a business- determined by survey 6. High Density Housing a) 12 scattered sites reguided /zoned for high density housing by 12/31/2016 b) High density housing is allowed in C/I zoning districts by 12/31/2016 Following the development of K0I's, the group developed a preliminary set of strategic initiatives. Strategic initiatives are focused activities that ensure that priorities are addressed and that outcomes specified in the K0I's are achieved. Strategic Initiatives 1. High Skill, High Wage Job Creation a) Conduct a market analysis to determine target markets with a special emphasis on higher- education b) Develop a strategy to leverage existing business partners, vendors, and alliances for job creation c) Correlate incentive packages for high skill /high wage jobs with overall incentive strategy 2. Infrastructure to Leverage Opportunities a) Develop a detailed infrastructure plan to meet developer needs b) Explore infrastructure financing methods c) Analyze provider -city partnership /relationship opportunities to provide for infrastructure needs d) Initiate and participate in city - county economic development discussions 4 Lakeville EDC Strategic Planning Summary November 2013 3. Business Retention and Expansion a) Expand and enhance the business outreach program b) Analyze expanded methods for increased business contacts c) Evaluate city business expansion requirements- for streamlining opportunities 4. Incentives and Tools to Achieve Success a) Expand the marketing strategy to ensure alignment with Lakeville's success factors and current incentive policies b) Establish EDC /City Council consensus on incentive policies, assumptions, ROI, and priority locations 5. Enhancing a Pro Business Climate a) Continue and enhance surveys of contractors, developers, and businesses b) Develop a concise "development review process" document c) Conduct a professionally administered and statistically valid business survey every three years d) Create "internal brand champions" to market and communicate Lakeville's benefits internally 6. High Density Housing a) Adopt city "housing goals" b) Develop an economic development housing strategy c) Determine C/I high - density housing demand d) Create a plan to address expanded housing options in C/I zoned districts Next Steps To successfully address the strategic priorities and reach the intended outcomes, a focused work plan will need to be developed. Following the adopted strategic initiatives, detailed action plans will be developed for each - specifying steps, timing and accountabilities. The strategic plan, while subject to periodic review and revision over the performance period, provides a solid foundation for action and accountability. 5 Lakeville EDC Strategic Planning Summary November 2013 Appendices SWOT Analysis Data In order to clarify the strategic challenges confronting the community, the EDC, City Administrator and EDC staff conducted a review of the current operating environment using a SWOT analysis methodology. SWOT stands for Strengths, Weaknesses, Opportunities and Threats. The internal strengths and weaknesses and the external opportunities and threats were assessed. This was done in two parts: (1) in advance of the retreat, all participants completed a SWOT questionnaire; and (2) the group participated in a facilitated process that used the questionnaire results as the basis for analysis and decision - making. The following Appendices contain both questionnaire responses (Appendices I -V), and the strategic challenges that emerged as a result of the process (Appendix VI). Lakeville EDC Strategic Planning Summary November 2013 Appendix I SWOT Results - Strengths Most frequently mentioned: • Schools and quality education • Location • Quality of life /community feel /reputation • Options for development • Transportation access and options Aggregate responses • Recognized Statewide and possibly upper Midwest to have a good school district. • Presently experiencing growth in residential units • Access to I35 • Good number of developable industrial /commercial sites • Part of an internationally known region for business /commerce • Geographic Location and proximity to major transportation corridors • Educated work force • Quality schools • Desirable neighborhoods • Location • Schools • Parks • Interstate access • High quality of life • Land availability • Quality of Schools • Fiscally responsible government • Access to major transportation hubs. • Location - proximity to Twin Cities yet suburban feel. 7 Lakeville EDC Strategic Planning Summary November 2013 • Community - strong values, security and quality • Strong local schools • Location • Room for growth and development • Strong community feel • Good schools • Parks • Housing options • Great options for road rail and air! • Resident base - labor force, volunteerism, active community. • Good schools. • Available land for development, zoned and located properly. • Great access to Twin Cities markets and regional markets. • Transportation system is good. • Great balance of commercial / residential and industrial development - SELDOM seen in other communities. • Lakeville is viewed as a great place to live and raise a family. • Large amount of land with sewer /water access • Projected population growth • Easy access to transportation major systems- bus station, hwys, etc • Location to major interstate • Modest but stable industrial park • Quality school district • Parks, trails, lakes, golf courses • Abundant land for development • Geographical proximity to I -35 • Existing partnerships and relationships • Professional staff and stable political climate Lakeville EDC Strategic Planning Summary November 2013 Appendix II SWOT Results - Weaknesses Most frequently mentioned: • Image • Education /Schools • Factors out of our control • Site /building concerns • Workforce • Incentives /Business attraction goals Aggregate responses • Not recognized globally. • Financial challenges within school district • Presently lack support from the county to get a deal done • Limited available buildings • Potential threats to quality schools as a result of insufficient funding • Lack of different styles, types and more affordable housing choices • Lack of a sufficient number jobs that match the education level of average residents • Access to high tech • Development costs and process • Lack of compelling /distinguishing feature that sets Lakeville apart • Lack of incentives for business - what's in our "tool box ". • Citizen's survey - only 32% said employment opportunities in Lakeville were good. • Citizens survey - 75% indicated job growth too slow • Citizen's survey - 72% indicated jobs were essential or very important for the future. • Lack of retail development. • Low profile - unknown benefits • Reputation of high costs to develop land commercially • Reputation of being difficult to move the process along in development of both commercial and residential. • Lack of diversified housing - primarily entry market and apartments. 0 Lakeville EDC Strategic Planning Summary November 2013 • No defined economic development incentive plans / tools. • Perceived by real estate and TC business community as "way out there." • No land zoned for high density residential • High cost of doing business in Lakeville • No densely populated cities south of Lakeville • No policies in place to financially assist potential development • Not willing to provide infrastructure to encourage development such as roads and utilities • Inability to attract businesses (competition) • Incentives • Focus on who we want to be /or what business types we would like to attract • Perception of being "too far out" geographically • Lack of ingenuity and too much risk aversion • Slow to adapt to change 10 Lakeville EDC Strategic Planning Summary November 2013 Appendix III SWOT Results - Opportunities Most frequently mentioned: • Educate community, city staff and business partners on how best to encourage economic growth • Promote high skill jobs, education and housing options • Continue to pursue redevelopment of existing commercial /industrial /housing areas • Continue to promote commercial and industrial growth by providing necessary tools • Promote airport expansion • Redevelopment of downtown Aggregate responses • Developing the most efficient economic development, local government department in the upper Midwest. • Continuing to turnover committee members. • Educating the city on how Lakeville is positioned within a robust region and how that translates into activity. • To attract additional higher skilled and high wage job to the community • To continue to pursue redevelopment opportunities for the redevelopment of Downtown properties • To offer incentives, financial and otherwise, to businesses willing to create head -of- household jobs • To work with residential developers to provide a wide range of housing choices • Availability of sites • Access to the twin cities • Access to interstate • Expansion of usage of local airport. • Increase the variety of housing options available including work force housing. • To attract high quality business to our community. • To foster growth of current business partners. 11 Lakeville EDC Strategic Planning Summary November 2013 • Get crystal clear on what we want to be in the next 10, 20 and 30 years and make sure we are willing and able to attract the right businesses to complement that vision. What will County Road 70 look like in 10 years? • Get the runway at the airport extended. • Existing Industrial and commercial base to build from. (Expansion of existing businesses and engage them to recruit others - vendors, competitors, etc.) • Desire of young people to want to live and work here. Let's get them suitable and affordable housing stock. • Engaged City Council and elected officials who REALLY want what is best for Community in the long run. • Staff is also engaged and enthusiastic - but need the tools and room to work opportunities. • To utilize the EDC and Lakeville's "Thrive" marketing program to promote our town! • High density housing • Business park growth • Industrial park growth • Higher education facilities • Business growth (land mass) • Raw land available to meet business growth plans • Quality of life (Parks, Lakes, trails, etc.) • Growing /maturing business relationships • Capitalize on fast residential growth 12 Lakeville EDC Strategic Planning Summary November2013 Appendix IV SWOT Results- Threats Most frequently mentioned: • A lack of existing robust infrastructure (fiber, roads, etc.) • Focus on retention of existing business • Development related costs (fees, taxes, etc) • Not having a streamlined process • Highly incentivized business climate Aggregate responses • Not looking to change /re- evaluate. Becoming static. • Comparable cities in the region competing for the same business development projects • Another housing bubble burst • Insufficient funding for needed state and county highway improvement projects • An unwillingness to fund "quality of life" type facilities, infrastructure improvements and programs at the local level • Incentives used by other communities • Land cost • Budget policies, economic policies and financial policies that are enacted by our county, state and federal governments that will impact Lakeville's ability to thrive. • Loss of existing businesses. • Less than attractive state tax structure. • Over protective local attitude • Economic challenges • Workforce needs and external pressures to develop housing based on current /short- term strategies. 13 Lakeville EDC Strategic Planning Summary November 2013 • • Slow process to react to opportunities. "Always starting from scratch." • Empty bag of business incentives available to new inquiries and existing business expansions. • A changing tax / city operating budget - higher costs, higher maintenance can lead to higher taxes, and inability to draw new businesses. • Cities that surround Lakeville that are closer to the metro that draw on a population base to promote commercial /industrial growth • High cost of doing business in Lakeville -city fees, infrastructure costs, low density development • Incentives neighboring cities are offering • Business leaving the state • Taxes • Road systems - keeping pace with growth • Lack of competitiveness • Stagnation /lack of uniqueness • Political change /instability 14 Lakeville EDC Strategic Planning Summary November 2013 Appendix V Highest Priorities - from Questionnaire Responses • Increasing the operating budget • Building capacity so that on a moments notice, a deal could be executed. • Staff participate in a national recruitment trip. • To continue to aggressively market the City for business development • To work with local, regional and state partners to provide appropriate incentives for business development projects that meet the City's economic development vision and goal. • To continue to advocate for funding for needed county and regional transportation improvement and expansion projects Lakeville • Technology upgrades • Tax climate • Transportation • Develop marketing tools and financial incentives that will place Lakeville as one of the first that developers, site selectors and business owners will look at locating. • Develop business incentive tools to help revive and attract new business opportunities • Remain attractive to existing business with local tax structure • Raise profile of Lakeville's reputation to help attract new business formation • Put the "Tools" in our toolbox to work for us in attracting some major tenants in Lakeville. • County Rd 70 development • Development around 35 and Cnty Rd. 70. • Create a plan and process to be "The number one choice" as a place to locate or expand a business. 15 Lakeville EDC Strategic Planning Summary November 2013 • Identify a way to respond to business inquiries, in their language, and reacting to their needs, on their timeframe. • Create an incentive model that studies ALL impacts of a project and potential incentives to create a more consistent and productive process for the client and the City of Lakeville. • High density housing • Policies to promote commercial industrial growth • Get word out to development community that Lakeville is OPEN for business • Strengthen Incentives for businesses • Become business friendly • Fill toolbox • Strengthen marketing (Products) • Be Pro - active. Don't wait for the businesses to come to us. • Refine Lakeville's "brand" and continue marketing /relationship building • Increase head of household jobs • Facilitate new office park development and development ready industrial park sites 16 Lakeville EDC Strategic Planning Summary November 2013 Appendix VI Strategic Challenges and Opportunities The group assessed how organizational strengths could leverage opportunities and how weaknesses could be exacerbated by threats. This provided a context for the leadership team to establish the six Strategic Priorities STRATEGIC ISSUES TO MINIMIZE /AVOID • Cost of development (combines both external and internal issues) • Image /perception (combines an external threat w/ issue that can be addressed via internal action) • County's negative impact on development (external situation which impacts /limits success) STRATEGIC ISSUES TO MAXIMIZE • High quality /high skill /high tech (leverages good schools /quality of life) • Housing density /diversity (leverages transportation options /access) • Educate community regarding economic development (leverages motivated & skilled staff, EDC) • Economic development incentive toolbox (leverages motivated & skilled staff) • Match infrastructure with goals 17 tm NO. .Lakeville rr City of Lakeville Community & Economic Development Memorandum To: From: Economic Development Commission Adam Kienberger, Economic Development Specialist Copy: Steven Mielke, City Administrator David L. Olson, Community & Economic Development Director Date: November 26, 2013 Subject: Business Marketing Strategy Update Below is an update on key targets and marketing initiatives underway as part of the Business Marketing Strategy. These marketing activities are a result of the study completed by Arnett Muldrow & Associates which continues to serve as a guide to staff for pursuing new and ongoing marketing initiatives. Marketing Partners Group The Marketing Partners group consists of representatives from the City, Lakeville Area Chamber of Commerce, Lakeville Convention & Visitors Bureau, Downtown Lakeville Business Association, and ISD 194. The Partners meet regularly to discuss strategic initiatives that can be donejointly to benefit the community as a whole while promoting a single, focused message about Lakeville. The group is currently working on several joint marketing pieces along with ideas for creating a central point of information for people looking to find out what is going on in Lakeville. The Marketing Partners group recently met on November 21 It to discuss these items in greater detail. The group will be utilizing the results of the Envision Lakeville study to further guide their efforts and partnerships. MREJ Lakeville was a sponsor at the Minnesota Real Estate Journal (MREJ) Industrial & Economic Development Summit on November 15th in Golden Valley. The MREJ Summit attendees included nearly 175 commercial and industrial brokers from the across the Twin Cities. In addition to having a booth, Lakeville received two ads in the Real Estate Journal, and Dave Olson participated in a panel discussion at the event showcasing Lakeville as community that embraces development. Staff will evaluate upcoming MREJ events as their spring calendar is released. In addition to these efforts, staff will continue to explore additional partnerships and relationships that will promote Lakeville's Business Marketing Strategy. No. --,5" City of Lakeville Community & Economic Development Memorandum To: Economic Development Commission From: David L. Olson, Community and Economic Development Director Cc: Steve Mielke, City Administrator Adam Kienberger, Economic Development Specialist Date: November 22, 2013 Subject: Preliminary 2040 Population and Household Forecasts Attached is a summary of the recently released 2040 Population, Household, and Employment forecasts prepared by the Met Council. This information is also being presented to the City Council at their Work Session on November 25th. As the attached memo from Dakota County and recent article from the StarTribune regarding Scott County's review of these preliminary forecasts indicate, the forecasts are the process of being revised. The implications of the current and possible revised forecasts for the City of Lakeville are addressed in the attached memo to the City Council. Staff will review this information and attempt to answer questions at the EDC meeting. Item No. Lakeville City of Lakeville Community & Economic Development Memorandum To: Mayor and City Council Steve Mielke, City Administrator From: David L. Olson, Community and Economic Development Director Cc: Dennis Feller, Finance Director Daryl Morey, Planning Director Brett Altergott, Parks and Recreation Director Chris Petree, Public Works Director Zach Johnson, City Engineer Allyn Kuennen, Administrative Services Manager Date: November 22, 2013 Subject: Review of Preliminary Met Council 2040 Population and Household Forecasts The Metropolitan Council has recently released preliminary 2040 population, household, and employment forecasts for all of the cities in the Seven County Metropolitan Area. A copy of these revised forecasts is attached. These forecasts are part of the preparation of the Thrive MSP 2040 plan that will establish the policy foundation and priorities for the Council's upcoming system and policy plans that will address transportation, regional parks, water, and housing. The attached memo dated 11/18/13 from Jane Vanderpoel, Management Analyst with Dakota County does a good job of providing the background on how the Met Council arrived at the preliminary forecasts that have recently been released and the feedback that has been received from outlying suburbs like Lakeville as well as more fully developed cities. I will not reiterate the same general background information in this memo but rather will provide a comparison of previous forecasts to the current preliminary forecasts for Lakeville. Forecasted numbers prepared by the Met Council in 2003 -04 that were the basis for the 2008 Comprehensive Plan Update: City of Lakeville Population, Household and Employment 1990 -2030 Actual Forecast 1990 2000 2010 2020 2030 Population 24,854 43,128 55,954 78,400 88,800 Households 7,851 13,609 18,683 28,400 33,500 Employment 6,563 9,885 13,882 22,945 27,38T Current Met Council 2040 preliminary forecasts: City of Lakeville Population, Household and Employment 2000 -2040 Actual Forecast 2000 2010 2040 Population 43,128 55,954 72,400 Households 13,609 18,683 30,500 Employment 10,966 13,862 21,800 The significant differences for the City of Lakeville are: The current 2040 preliminary population forecast of 72,400 is 16,400 less than the previous 2030 population forecast of 88,800. The current 2040 preliminary household forecast of 30,500 is 3,000 less than the previous 2030 household forecast of 33,500. The 2040 preliminary household forecast of 30,500 would require an average of 394 new housing units to be constructed every year. The current 2040 forecasted average household size is 2.37 persons per household. The previous 2030 forecast of average household size was 2.65 persons per household. The 2010 Census indicated an average household size of 2.99 persons per household. The following is an illustration of how the current and forecasted range of average household (HH) size would impact population numbers using the preliminary estimate of 30,500 households in 2040: 30,500 HH x 2.99 persons per HH = 91,195 Population 30,500 HH x 2.65 persons per HH = 80,825 Population 30,500 HH x 2.37 persons per HH = 72,400 Population Summary As has been indicated, the Met Council will be revising their initial forecasts and based on comments that have already been expressed by other outlying suburban cities, and as a result the numbers for Lakeville are likely to increase (See attached StarTribune article regarding Scott County cities responses to these initial forecasts.) Staff does not feel that an average of nearly 400 new housing units per year is that far off given that between 2000 through 2010 the City averaged just over 500 new housing units per year. We would recommend that the City comment on the forecasted average household size. Lakeville has historically and continues to attract young families to our community and this will likely continue into the foreseeable future. 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C) 0) m C�LY] U.1: JZZd.(q(Q( www S w a o N c n ° r- CL x n 3 n c H _ L y c H d 0 H N O c W a) c W m U a c m V > >> Vl O N N O 3 C J C p `O F Y 2 O U N N S Old W 0 2 (p O C O O 'O .�C J O N E'O��_ W O > i �_y� �- ya W d W (D (D 7 C 0 3; 0 O W y U c W N t0 O M O C H d W d fn W C Z (0 N J N V t C n O L W 3 E y C T �' O N 0 N N .0 t T 3 J4 Y y IL c 3 3 0 -- _d ° W O T �+ U= C W N y 0 / Y Y Y Y C W W W O W N C ..; R -- N O W aK (O W O N N O W 7 W W (6 W W U Q m m m 0 0 0 LL C7 C� S 2 J J J J J Z O O a (/Q (n (A VJ U 3 3 Office of Planning and Analysis Dakota County Administration Center 1590 Hwy. 55, Hastings, MN 55033 -2372 C o u N T Y Phone: (651) 438 -4433 ♦ Fax: (651) 438 -4405 ♦ www.dakotacounty.us M E M O R A N D U M Date: November 18, 2013 To: Brandt Richardson, Erin Stwora, Kurt Chatfield From: Jane Vanderpoel, Management Analyst Subject: Metropolitan Council Workshop: Thrive 2040 forecasts for Population, Housing, Jobs Background and context The Metropolitan Council is charged by law with establishing the basis by which local governments conduct their decennial comprehensive planning process. The Metropolitan Council's first step is forecasting population, numbers of households, and jobs for all cities, counties and townships in the seven - county metro area 10 years beyond the current comprehensive plans (the next one goes out to 2040). Preliminary forecasts were shown to the Metropolitan Council in September. Their researchers are now conducting workshops for local government officials and staff across the metropolitan area to collect reaction to these forecasts. A revision of the forecasts is expected in January; the Metropolitan Council is scheduled to give its final approval next spring. The preliminary Thrive 2040 forecast and the most recent forecast data (from the 2030 comprehensive planning cycle) for Dakota County are shown in the table below. The table from the Metropolitan Council showing the new forecasts in the three areas for all municipalities in the County is shown on page 2. The forecasted population for the County in 2040 is about 8,000 fewer people — but for an entire decade later Similarly, the forecasted number of jobs also drops by about 10,000 — for ten years later than the earlier forecast. The forecasted number of households is higher, which means the Metropolitan Council demographers expect average household sizes to decrease. In other words. the Metropolitan Council has concluded that overall growth in the Countv's population and iobs will slow dramatically over the next two decades. This matters for two reasons. One, our comprehensive planning process will have to match the forecasts; we do not have the freedom to assume our population in 2040 will actually be bigger than the Metropolitan Council forecast. Second, the forecast affects Metropolitan Council's investments in services for transportation, transit, parks and sewer /water lines. Population Households Employment 2040 Forecast 517,030 222,920 234,910 (prepared in 2013) 2030 Forecast 525,275 210,925 245,000 (prepared in 2004) The forecasted population for the County in 2040 is about 8,000 fewer people — but for an entire decade later Similarly, the forecasted number of jobs also drops by about 10,000 — for ten years later than the earlier forecast. The forecasted number of households is higher, which means the Metropolitan Council demographers expect average household sizes to decrease. In other words. the Metropolitan Council has concluded that overall growth in the Countv's population and iobs will slow dramatically over the next two decades. This matters for two reasons. One, our comprehensive planning process will have to match the forecasts; we do not have the freedom to assume our population in 2040 will actually be bigger than the Metropolitan Council forecast. Second, the forecast affects Metropolitan Council's investments in services for transportation, transit, parks and sewer /water lines. Page 2 The long -range forecasts look different from previous forecasts because the Metropolitan Council has changed its methodology (more about that on page 4). The Metropolitan Council research staff sees these trends as the basis for its forecasts: The growing segment of the population over age 65 will demand smaller households in more places that offer greater housing density, convenient access to services, and transit. ■ Home buyers appear less willing to buy large, new homes on the fringe of the metro area because the recession taught homeowners that type of housing is no longer a "safe" investment, so the speed of growth in the outer suburbs will not return to pre- recession levels. ■ Adult workers perceive traffic congestion to begetting worse and consider gas prices to be more volatile, so their new preference is to live closer to where they work. These are the preliminary forecasts released September 2013: Apple Valley 45,527 49,084 62,100 16,344 18,875 26,600 12,106 14,279 18,700 Burnsville 60,220 60,306 76,200 23,687 24,283 32,800 31,765 31,593 41,200 Castle Rock Township 1,495 1,342 1,100 514 504 510 344 356 440 Coates 163 161 160 64 66 70 252 109 180 Douglas Township 760 716 870 235 259 420 96 92 80 Eagan 63,557 64,206 86,800 23,773 25,249 36,100 42,750 49,526 70,000 Empire Township 1,638 2,444 2,500 515 792 1,130 217 255 320 Eureka Township 1,490 1,426 1,430 496 518 670 196 460 220 Farmington 12,365 21,086 26,900 4,169 7,066 11,600 3,986 4,438 7,300 Greenvale Township 684 803 1,240 227 275 590 68 49 640 Hampton 434 689 890 156 245 420 178 127 210 Hampton Township 986 903 1,230 320 329 580 186 85 210 Hastings (part) 18,201 22,172 28,900 6,640 8,735 13,300 8,872 8,532 10,400 Inver Grove Heights 29,751 33,880 46,300 11,257 13,476 20,200 8,168 9,442 12,900 Lakeville 43,128 55,954 72,400 13,609 18,683 30,500 10,966 13,862 21,800 Lilydale 552 623 1,340 338 375 590 354 355 420 Marshan Township 1,263 1,106 1,110 404 403 520 220 117 320 Mendota 197 198 340 80 78 150 266 270 340 Mendota Heights 11,434 11,071 15,200 4,178 4,378 6,500 8,549 11,550 13,700 Miesville 135 125 150 52 52 70 97 116 120 New Trier 116 112 110 31 41 50 30 35 60 NiningerTownship 865 950 840 280 372 400 165 149 330 Northfield (part) 557 1,147 1,860 216 414 860 79 470 730 Randolph 318 436 490 117 168 230 123 122 100 Randolph Township 536 659 760 192 246 360 130 113 120 Ravenna Township 2,355 2,336 2,180 734 780 1,010 115 38 50 Rosemount 14,619 21,874 29,200 4,742 7,587 12,400 6,356 6,721 11,600 Sciota Township 285 414 510 92 140 240 21 33 250 South St. Paul 20,167 20,160 23,500 8,123 8,186 10,600 7,697 8,557 10,900 Sunfish Lake 504 521 560 173 183 260 23 8 - Vermillion 437 419 500 160 156 230 221 93 180 Vermillion Township 1,243 1,192 1,610 395 424 750 280 90 80 Waterford Township 517 497 650 193 193 310 461 679 1,010 West St. Paul 19,405 19,540 27,100 8,645 8,529 11,900 8,905 7,471 10,000 Dakota County Total 355,904 398,552 517,030 131,151 152,060 222,920 154,242 170,192 234,910 METROAREAtotals 2,642,062 2,849,567 3,736,0001 1,021,456 1,117,749 1,614,0001 1,606,263 1,543,872 2,133,000 Note: The 2000 and 2010 data are not estimates, but are pulled from the Census (population, households) and from other data sources. The figures shown for the cities of Hastings and Northfield include only the precincts within Dakota County. Page 3 About 70% of growth is attributed to natural growth (i.e. more births than deaths) and 30% is attributed to people moving in and out of the region. At the Northern Service Center workshop November 4, Metropolitan Council demographer Todd Graham said previous workshop attendees have said most close -in cities (those that are already fully developed) have little room for the population growth assigned to them, and the outlying suburbs (where there is room to grow) expect to grow more quickly than the forecasts indicate. What's next The Metropolitan Council research staff characterize their forecasts as a work in progress. They plan revisions. They invite local governments to challenge their assumptions, but they want objections or suggestions backed up with data. Early December is the deadline for comments The next draft of forecasts will be released in January. The Metropolitan Council's Todd Graham conceded that their assumptions are based on data that reflect market decisions made by homebuyers and businesses in the last few years. His colleague, Dennis Farmer, said the same thing at an event for the Twin Cities Research Group on November 13. They do not appear to believe it is necessary to temper those assumptions by considering how or whether the recession and poor economy affected decisions — though they have updated their "regional control totals" (the total population, total households, total jobs) forecasts with 2011 data and plan to include 2012 data in the revision to be released in January, after that 2012 data is available. Metropolitan Council staff have not indicated that they collected any data by surveys, or attempted to predict future preferences or behavior in any objective way, other than by drawing conclusions from recent data. At the NSC workshop, planners from several Dakota County cities provided feedback very similar to comments already received in previous workshops as described above — that close -in and fully developed cities such as South St. Paul, West St. Paul, Mendota Heights, and Burnsville have no place to put the additional people and households predicted for them, and the outlying suburbs (Rosemount, Lakeville, Farmington) believe they'll grow more quickly than the forecast indicates. Washington County planning staff indicated their cities have reacted similarly. In addition, the Washington County HRA representative said a newly completed study by Maxfield Research consultants finds that growth in that county will not be as rapid as it was during the mid -2000s housing boom, but will not be as depressed as Metropolitan Council predicts. Maxfield expects that regionally, the suburbs such as Maple Grove, Woodbury, and Lakeville will continue to fill out as the real estate market recovers from the recession. The Metropolitan Council researchers do not calculate population forecasts for counties as separate entities. Instead, they do calculations from the ground up, for each individual municipality within a county, and then add the numbers to get a county's totals. This formula means cities and townships are in a better position to seek changes in forecasts than counties, because the county's forecasts are dependent purely on math. Libby Starling, Metropolitan Council research director, said last week that their revised forecasts will be re- calculated for all cities and townships in the region. She encouraged planners and other city or township officials to contact her or her staff with their views about the accuracy of the forecasts, whether they agree or disagree with the forecasts. Page 4 Ms. Starling also added that the Metropolitan Council's decisions on investments in regional infrastructure — including roads, transit, parks, sewer /water — would be based on the Council's forecasts (a final vote is expected in April 2014). She said Metropolitan Council staff believe "there is adequate land within the 2030 MUSA to take us to 2040." Feedback to Metropolitan Council is that they may have misread or mis- judged the strength of recent market forces and their cause, which has caused them to over - estimate the degree of change likely in population and households. County planners do not know whether planners from the cities in Dakota County have provided Metropolitan Council staff with their views about the accuracy of the forecasts. Metropolitan Council Forecasting Methods For population and households, the Thrive 2040 forecasts have two pieces: the demand side and the supply side. The supply side is a transparent calculation of the potential number of households of various types (as shown in current zoning in city /township current comprehensive guide plans) multiplied by the (current) average household size for those housing types. This could be thought of as a ceiling, or greatest possible number, of housing units and people. Comments from city planners at workshops are that the Metropolitan Council assumes additional housing may be built in places considered unlikely by cities, such as in large commercial /industrial areas that would require expensive and extensive redevelopment, and vice versa — that the researchers aren't counting major developments that do appear likely (such as UMore Park, the former Ford plant in St. Paul and the TCAP in Arden Hills). Others said comp guide plans that show potential maximum housing density do not match up with the actual housing density in some places. Policy decisions by elected officials — such as a preference for avoiding more rental housing — also should be considered. The Metropolitan Council estimates of potential housing were mostly compiled with no input from cities other than comp guide plans, so researchers are willing to re -visit both their assumptions and their numbers on the "supply" side of the equation, with information from cities regarding unusable land or development projects likely to be underway by 2020. The second piece of the forecast methodology is new, and attempts to predict the "demand" side of the equation. Essentially, the researchers are answering the questions: Where do people want to live, and why? Their conclusion is that real estate demand and development patterns in the next two decades will be different from the last two decades due to anticipated changes in demographics, housing preferences and travel behavior. Metropolitan Council researchers have built a complicated model partly based on Census Bureau data (where people came from, where they moved to, their age, race and income) that essentially predicts future behavior among those who will purchase homes or locate businesses based on recent past behavior. Starting with the 1,200 TAZs in the region, Metropolitan Council researchers have layered on additional attributes to essentially create a "desirability index" for each TAZ that reflects the degree to which it has attributes that homeowners want: housing type, employment types, population demographics, proximity to water (lakes, rivers, beaches) and open spaces, access to transit and amenities, etc. However, the researchers said they are not considering factors such as crime rate, quality of schools, age of housing, and other factors that one would expect would also affect decision - making about where people want to live. Metropolitan Council staff explained that while those factors appear obvious now, Page 5 they are likely to change over the next 25 years in ways that are hard to predict, so they are not built into the forecast assumptions. Todd Graham explained that Metropolitan Council staff assumed the market segments — for example, Millennials, Gen X/Y and Baby Boomers — would make housing or location decisions in the next two decades in the same ways they have recently. Traditionally, young and single professionals have gravitated to higher- density rental housing in urban areas with a variety of social opportunities. When they marry and begin having children, they typically move into single family homes with more space, bigger yards, closer to parks and recreation, and where good schools and safe neighborhoods can be found. Metropolitan Council population /housing forecasts anticipate much less of that movement because data from the recession shows young adults delaying commitments like marriage and homebuying in favor of living in more urban areas in rental property. On the other hand, the Metropolitan Council population /housing forecasts assume older adults in the Baby Boomer generation and later, as they become empty- nesters, will shed their current housing in those family- oriented suburban areas described above and will move into the type of low- maintenance housing currently preferred by Millennials, where they can get to conveniently - located services using public transit. City planners at the workshops, however, said they've seen very little of that shift; they report older adults value their one -level (accessible) homes that are already paid for, and which may be close to grandchildren and are not in a hurry to move. Metropolitan Council modeling data that underpins the forecasts is available. Metropolitan Council staff used Cube Land software, which is the same vendor they use to produce their travel demand estimates. Once the Thrive2040 forecasts are final, researchers will revise the 2020 and 2030 projections as well. Employment numbers are arrived at with a similar model, except it is based on decisions made by business owners instead of home buyers. Predicting the numbers of jobs 25 years into the future is difficult considering rapid changes in technology, whims of consumers, and cities' ability to attract businesses with many jobs. Metropolitan Council researchers said they use their land use model for this forecast, which looks at how jobs were distributed across the region in 2010 StarTribune - Print Page Sta- rTr i b u n e Met Council reassures Scott County on growth Article by: David Peterson Star Tribune November 19, 2013 - 3:37 PM http://www.startribune.com/printarticle/?id=232558791 There's no need to panic over a new set of forecasts predicting far less growth in Scott County cities than many are expecting. That is the message from the Metropolitan Council, which issued the forecasts earlier this fall. The predictions matter because they can become self - fulfilling prophecies: the basis for lots of decisions on future spending on roads and much more. "I want to stress that these local forecasts are preliminary and will be revised based on comments from cities," research analyst Dennis Farmer assured a group of county and city staffers and elected officials in Prior Lake earlier this month. "They are already being modified.... A lot of developing suburbs" — not just those in Scott — "think they are too low." Despite the assurances, a procession of local officials stood up and objected to them. "It seems as though your assumptions are based on what has recently occurred rather than the overall trend over 15 or 20 years," said Savage City Administrator Barry Stock. "The economy is improving, land values are rapidly increasing — though not to the craziness we saw six or seven years ago — but they are going up." Under the older forecasts, Savage would rise from its 2012 figure of 27,552 to 39,200 by 2030. The new preliminary forecast doesn't assign a value for 2030 but ratchets expectations back to 34,400 by 2040. Similar changes in projections occurred in lots of outer -ring suburban areas. The forecasts, Met Council officials said, were never anything more than an opening shot that would lead to a period of give and take in which they moved from a computer model to sounder predictions based on local knowledge of on- the - ground realities and expectations. Said Met Council forecaster Todd Graham: "In all humility, a forecast model is an analytic construct, and we can modify it." Most likely, growth will end up being redistributed as local officials react to the numbers, he said, and "differences in population will show up a little further out, in the third ring or even [a rural outpost such as] Elko New Market.... There will be substantial differences in the next version of the forecast." Why they matter The forecasts are drawing keen interest because they're far from just casual guesses or an academic exercise. The council carries a lot of weight in approving things like new transit lines and bridges that are needed to support growing populations. Shakopee Mayor Brad Tabke thanked council officials for "coming out and engaging with us on these numbers," adding: "When I first saw them, I didn't realize this was just the first part of a process. I thought it was what would be. "We need to make sure we get it right. We know that around [County Road] 83 and [Hwy.] 169, 5,000 jobs are coming in the next five years. That will significantly impact the entire region's growth." The timeline, council officials explained, is this: • Local governments are asked to comment officially by Dec. 1. of 2 11/20/2013 10:06 AM StarTribune - Print Page http://www.startribune.com/printarticle/?id=232558791 • The council will process those and get back to cities by January. Further give and take will ensue. • By April the council's members, appointed by the governor, are to approve a new set of forecasts that set the stage for planning. "These are preliminary forecasts that are not being used for planning purposes but just for discussions with cities," Farmer said. David Peterson • 952 - 746 -3285 © 2013 Star Tribune 2 of 2 11/20/2013 10:06 AM LAM No. City of Lakeville • Community & Economic Development Memorandum To: Economic Development Commission From: David L. Olson, Community and Economic Development Director Copy: Steven Mielke, City Administrator Adam Kienberger, Economic Development Specialist Date: November 22, 2013 Subject: November Director's Report The following is the Director's Report for November, 2013. Building Permit Report The City has issued building permits with a total valuation of $123,290,334 through October. This compares to a total valuation of $104,698,684 through October of 2012. The City issued commercial and industrial permits with a total valuation of $10,062,750 through October compared to a total valuation of $9,606,500 during the same period in 2012. The City has also issued permits for 304 single family homes through October with a total valuation of $96,439,000. This compares to 215 single family home permits through October of 2012 with a total valuation of $63,658,000. Development Update The new McDonalds located on County Rd. 46 near Brunswick Zone opened on Friday, November 8th. The new Advanced Auto Parts store on Kenwood Trail near Rainbow Foods and Culvers was recently completed and should be opening soon. QA -1 in Airlake Industrial Park was recently issued a Certificate of Occupancy for their 17,200 square foot addition to their recently acquired second building. The Planning Commission will be considering a Conditional Use Permit for a new SuperAmerica gas convenience store at their December 5th meeting. The proposed location is at the corner of Keokuk Avenue and Co. Rd. 70 just south of Harry's Cafe and the new Lakeville Walmart store. Foreclosure Update There were a total of seven (7) Sheriff Sales in October in the City of Lakeville and there have been a total of 95 through the first 10 months of the year. This compares to a total of 220 for the year in 2012. Based on the recent monthly rate of foreclosures, the total number for 2013 should be approximately half of what it was in 2013. DLBA Downtown Lighting Ceremony The EDC is invited to attend the annual Holiday Lighting ceremony in Pioneer Plaza at 6:00 p.m. next Tuesday immediately after the EDC meeting. W E= O aj . ca � a. b N a w rA m e� ►-4 a rA 0 U ya o tu oq z U a � rx a w to M 0o h 0 0 00 = •--� w) 0 0 0 0 0 0 0 0 --� O� O N 0 0 0 0 a\ 0 0 0 0 0 0 M N O 00 h h `O O O L . 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Mapping Using Dakota County GIS http://gis.co.dakota.mn.us/website/dakotanetgis/ The Dakota County Office of GIS is updating the 2013 Foreclosures and Notice of Pendency layers on a monthly basis. If you need assistance using this Web page, please call Randy Knippel or Mary Hagerman with the Office of GIS at (952) 891 -7081. If you have any concerns, please call me at (6S 1) 675 -4467 or send me an email at Ihenning(&-dakotacda.state.mn.us G Wx a =W z 0 Qi 4 C O O U •� +E O C ca t] Ud • N 4J V1 N — M N Ln 042 w N— t. 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LA vi 4J C Z > 4) = C ed CL _ d V) d V; pq� 4J C H J C to _ •� -W i • r 4) 4J N _u L r QmLuU. cd IV � > �c��d �JEccJS Uf I t O C 4+ 75 N d L L L O m= o °- Z V C 7 7 E O L H V1 .� d � O t L � � L d W L � 7 O C L N .o U N yj N L A 0 t y 4j R c O w a 41 O O a C � c oU c > Y W L O 0 4 y 3 _c o0 C C E V C to W N O d O E W cd V 41 �Z N w O v-0 t-(D N C y C W v O E �Z 4+ N 0 Z N W H O (D Z H h N V N C 0 d C N C O � U� d Ln L � h C ^ L n 0 d = C V 0 L- 20 a w Q O U u s 0 a+ td 0 O fd C O c"d a w C L C 0 C L- 0 Business News - Indian Stock Market, Stock Market News, Business & Finance, Market ... Page 1 of 1 » Print This copy is for your personal, non - commercial use only. To order presentation -ready copies for distribution to colleagues, clients or customers, use the Reprints tool at the top of any article or visit www reutersreprints.com. Largest U.S. food contract manufacturer Hearthside on the block Fri, Oct 25 2013 By Greg Roumeliotis NEW YORK (Reuters) - Private equity firm Wind Point Partners is exploring a sale of Hearthside Food Solutions LLC, the largest food contract manufacturer and largest privately held bakery in the United States, three people familiar with the matter said this week. Wind Point has asked Barclays Plc (BARC.L: Quote, Profile, Research) to run an auction for Hearthside, hoping it can fetch more than $1 billion, the people said, asking not to be identified as the sale process is confidential. Hearthside has earnings before interest, tax, depreciation and amortization of around $120 million, two of the people added. Wind Point and Hearthside did not respond to requests for comment while Barclays declined to comment. Hearthside produces baked foods and snacks out of 20 manufacturing facilities in eight U.S. states for the world's premier food companies, employing more than 7,500 full -time workers, according to its website. The Downers Grove, Illinois -based company was created in 2009 by Wind Point and former Ralcorp Frozen Bakery Products President and ConAgra Foods Inc (CAG.N: Quote, Profile, Research) veteran Rich Scalise, who now serves as Hearthside's chairman and chief executive. Hearthside started with four manufacturing plants and just over 2,000 employees but grew quickly through acquisitions. Last May it was merged with another Wind Point portfolio company that specializes in food packaging, Ryt -way Industries, to create a food contract manufacturer with over $1 billion in annual sales. With outsourcing companies looking for greater economies of scale and expanding their offerings to meet the increasingly complex formulation needs of their clients, the fragmented food contract manufacturing sector is expected to see more merger and acquisition activity, according to a third - quarter review of the market by investment banking firm Capstone Partners LLC. One of the major deals of the year in that market was the $5 billion acquisition of Ralcorp by ConAgra in January, which created the largest private brand packaged food business in North America. In May, Hearthside agreed to sell Golden Temple, its ready -to -eat cereals and granola making business, to Post Holdings Inc (POST.N: Quote, Profile, Research), the company behind the Raisin Bran and Honey Bunches of Oats cereals, for $158 million in cash. (Reporting by Greg Roumeliotis in New York; Editing by Marguerita Choy) © Thomson Reuters 2011. All rights reserved. Users may download and print extracts of content from this website for their own personal and non - commercial use only. Republication or redistribution of Thomson Reuters content, including by framing or similar means. is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters and its logo are registered trademarks or trademarks of the Thomson Reuters group of companies around the world Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. This copy is for your personal, non - commercial use only. To order presentation -ready copies for distribution to colleagues, clients or customers, use the Reprints tool at the top of any article or visit: www.reutersreprints.com http: / /in.reuters.com/ assets /print ?aid= INBRE9900QY20131025 10/28/2013 Finance & Commerce > Print > Greater MSP event highlights global demands, workforce... Page 1 of 2 Finance & Commerce http:/ /finance - commerce.com Greater MSP event highlights global demands, workforce development by Charley Shaw Published: October 29th, 2013 Twin Cities executives and public officials who gathered on Monday night at Greater MSP's annual meeting touted the pluses of the Twin Cities, but also sounded an alarm about global competition and the need for workforce development. About 600 attendees at the regional economic development group's event were reminded that Minnesota ranks near the top in the most Fortune 500 companies per capita of any state in the nation and that the Twin Cities' unemployment rate, at 4.7 percent according to the U.S. Bureau of Labor Statistics, is the lowest among major Greater MSP was lauded Monday for its efforts in metropolitan areas in the country. recruiting Redwood City, Calif. -based Shutterfly Inc. to build a Midwestern production hub in Shakopee, Since its launch in 2011 Greater MSP where the online photo storage company will locate more than 325 jobs over the next two to five years. has acted as a cheerleader for the A 217,000- square -foot facility is under construction region's business potential. But during by Minneapolis -based Ryan Cos. US. (Staff photo: Monday's gathering at the Guthrie B ill Klotz) Theater in Minneapolis, the group also diverted from the rah -rah script in making the point that the long -term trend of success could be reversed if the region's companies don't position themselves to handle the demands of the global marketplace. In particular, executives and economic development officials speaking at the event raised continuing concerns about the need to improve the state's workforce. Ravi Norman, CEO of Minneapolis -based Thor Construction, said that by 2020 there will be a need for 120,000 more workers than current estimates calculate can be produced by the normal growth of the workforce, according to projections derived from data from Wilder Research, the U.S. Census and McKinsey & Co. By 2030, the gap is expected to grow to 243,000 workers. Norman drew the most enthusiastic applause of the night when he implored the group to find ways to prepare and train workers in technologies that will generate economic growth ranging from robotics to data management. "Talent availability is the new currency in economic development.... One of the headlines from tonight is we must prioritize talent as a major economic development imperative," Norman said. Sharing the stage with Norman was Minnesota Department of Employment and Economic Development Commissioner Katie Clark Sieben. She noted that the Twin Cities region currently has 42,000 jobs that are unfilled, a statistic that points to the need for workforce development programs. Sieben noted the need for programs such as the Minnesota Jobs Skills Partnership and the dislocated workers program. She also pointed to the new Minnesota fastTRAC program to help adults with limited education to get skills in high- demand fields. The state needs a variety of these sorts of programs to supply businesses with enough skilled workers. http: / /fmance- commerce. com /wp- contentlplugins /tdc- sociable - toolbar /wp- print.php ?p =67... 10/30/2013 Finance & Commerce > Print > Greater MSP event highlights global demands, workforce... Page 2 of 2 "To meet our future workforce needs will require a variety of approaches," Sieben said. Greater MSP, which is run by executive director Michael Langley, was launched in 2011 with the aim of attracting 100,000 new jobs to the Twin Cities by 2016. To date, the group has helped bring 9,000 new jobs with an average salary of $54,000, Langley said. The organization has a $5 million annual budget, of which 80 percent is privately funded and 20 percent is publicly funded. Langley credited the diversity of the region's economy for its ability to regain its footing after the deep economic recession in 2008. "We've gone from trailing our peers to competing with them," Langley said. Greater MSP in particular touted the recruitment earlier this year of Redwood City, Calif. -based Shutterfly Inc. to locate 325 jobs over two to five years in a 217,000- square -foot production hub under construction in Shakopee. A video presentation at the meeting about the online photo storage company's decision to put its Midwestern expansion in the Twin Cities featured testimonials from Shakopee Mayor Brad Tabke and others involved in the deal "Having Greater MSP was integral. They were able to do a lot of things that we as a city cannot," Tabke said in the video presentation. As for the broader Twin Cities business landscape, Greater MSP identified five major industries: health and life sciences, food and agribusiness, financial and insurance services, innovation and technology, and headquarters and business services. To end the evening at the Guthrie, the group unveiled a new mission statement that calls on the Twin Cities to solve global problems that are related to these industries: "Safe and abundant food, clean water and health solutions will drive the global economy in coming years. The Greater MSP region is the leader in these technologies and industries, and has the R &D, financial and business services infrastructure to support them. Our highly educated and culturally connected workforce will create that business success." Complete URL: http: // finance - commerce.com/ 2013/10 /greater -msp- speakers - look -to- horizon/ http: / /fmance- commerce. com /wp- contentlplugins /tdc- sociable - toolbar /wp- print.php ?p =67... 10/30/2013 StarTribune - Print Page StarTribune With hiring up, Minnesota firms' unemployment insurance taxes drop Article by: Adam Betz Star Tribune November 19, 2013 - 9:24 PM In a sign of the state's gradually improving job market, about 120,000 Minnesota businesses will pay lower unemployment insurance taxes at the beginning of 2014. Minnesota firms pay a tax on the first $29,000 in annual wages for each employee, with the money going into a pool from which unemployed workers collect benefits. The tax rate moves depending on how many people are filing for unemployment, and the rate will be cut from the maximum 0.5 percent to the minimum 0.1 percent, effective Jan. 1. http://www.startribune.com/printarticle/?id=232537881 Patrick T. Fallon, Bloomberg That was scheduled to happen in 2016 as fewer Minnesotans file for unemployment, but Gov. Mark Dayton and the Minnesota Legislature agreed in the spring to move the rate cut forward by two years. "Given evidence of an improving economy and a healthy trust fund balance, the unemployment insurance tax cut is a smart move that will result in real savings for Minnesota businesses," said Katie Clark Sieben, commissioner of the Minnesota Department of Employment and Economic Development. The agency manages the state's unemployment insurance program. Beginning in January, employers will also no longer have to pay an extra 14 percent tacked onto their total unemployment insurance tax bill. That assessment was added during the recession to ensure the state had enough money to cover unemployment benefits for all the people who lost their jobs. From the beginning of 2007 to the end of 2012, about 1.9 million claims were made by Minnesotans for unemployment benefits, some of them the same person filing multiple times. The peak was 2008, when 454,000 claims were filed in the state. That number has fallen steadily, to 281,000 in 2012, which is lower than the prerecession average. The number of filings is on pace to be even lower in 2013. Minnesota businesses will save $346.5 million over two years thanks to the rate reduction, state officials said. Sieben made the announcement at a news conference with Ravi Norman, CEO of Fridley -based Thor Construction Co., which is the type of company most affected by unemployment insurance taxes. "Construction companies, with high volumes of seasonal workers, often have a harder time adjusting to the tax climate," Norman said. "This unemployment insurance tax cut is a great mechanism for savings in our industry. It will add thousands of dollars to Thor's bottom line over the next two years, which will enable us to further reinvest in our employees as a greater competition for talent occurs during this projected local construction boom." The rate reduction for 2014 was contingent on the trust fund having a balance of more than $800 million as of Sept. 30, 2013. The rate reduction in 2015 is contingent on the trust fund having a balance of more than $900 million as of Sept. 30, 2014. State officials said they anticipate the trust fund level to exceed $1.2 billion over the next two years, well above the level required for reducing the tax rate. Adam Belz • 612 - 673 -4405 Twitter: @adambelz of 2 11/20/2013 8:22 AM As the number of people seeking unemployment benefits has fallen in Minnesota, state officials are cutting the tax businesses pay for unemployment payouts. File photo of a 2013 job fair. Finance & Commerce > Print > Minnesota unemployment rate falls to six -year low Page 1 of 2 Finance & Commerce http: / /finance - commerce.com Minnesota unemployment rate falls to six -year low by Art Hughes Published: November 21st, 2013 The construction industry posted slight job gains in October, contributing to the lowest overall monthly unemployment rate for Minnesota since December 2007. The state's unemployment rate fell to 4.8 percent for the month, down from 5.6 percent a year ago, according to the state Department of Employment and Economic Development, which released Jobs data Thursday. The construction industry eliminated 900 jobs in September, but rebounded with 1,200 jobs in October for an overall gain. "Between construction and education and health [sectors], October was a good month," said Steve Hine, director of DEED's Labor Market Information Office. "Of course, we've got a large hole to dig ourselves out of," Hine said, referring to the loss of nearly 50,000 construction jobs during the recession. The rate of growth in construction jobs over the year is 3.3 percent, second only to logging and mining, at 7.1 percent. "The outlook is positive, absolutely," said David Semerad, CEO of Associated General Contractors of Minnesota whose organization released an upbeat forecast this month for the construction industry for the coming year. The AGC survey shows 46 percent of their members expect growth in the coming year. That's up from 39 percent last year. Even so, he said, many AGC members predict the industry may not ever rebound to the heady levels from the mid- 2000s. "We're still a long ways away from where we were in February of 2006," he said. The construction industry hit a peak of 132,000 jobs in February 2006. The job count plummeted below 86,000 in May 2010. As of last month, the industry has climbed back to 97,600 construction jobs. Manufacturing is also struggling. Despite adding 5,300 jobs over the last two months, the industry lost 800 jobs since October 2012. It's one of only two sectors to show a job loss since last October, according to the DEED analysis. The figures square with what Minnesota Manufacturers Alliance Vice President Kirby Sneen is hearing from his members. He points to the skills gap as a constant struggle. But Sneen's outlook is positive for the coming year. "Most of our small and midsize manufacturers are optimistic for 7 to 10 percent growth in the next year," Sneen said. He bases his outlook on member surveys, reports on the number of back orders being filled, and anecdotal exchanges. DEED's report shows Minnesota employers, overall, cut 8,700 jobs in September, but then added 9,900 in October for a net gain. The state's nonfarm growth rate of 1.8 percent over the past year is slightly better than the nation's 1.7 percent rate during the same time. DEED typically releases a monthly analysis, but reported two months on Thursday because the federal government shutdown delayed September's data. The numbers are subject to change as state researchers compile more data. Minnesota year- over -year employment growth, 12 months ending in October 2013 http: // finance - commerce. com /wp- contentlplugins /tdc- sociable - toolbar /wp- print.php ?p =68... 11/22/2013 Finance & Commerce > Print > Minnesota unemployment rate falls to six -year low Page 2 of 2 Total non -farm employment: +50,000 / +1.8% Logging and Mining: +500/ +7.1% Construction: +3,500/ +3.3% Manufacturing: -800/ -0.2% Trade, Transportation and Utilities: +13,600/ +2.7% Information: +900/ +1.7% Financial Activities: +2,100/ +1.2% Prof. and Bus. Services: +7,300/ +2.1% Ed. and Health Services: +14,200/ +2.9% Leisure and Hospitality: +6,200/ +2.5% Other Services: -10/ 0.0% Government: +2,400/ +0.6% Complete URL: http:// finance - commerce. com / 2013 /11 /minnesotas- unemployment- rate -is- lowest- in -six- years / http: / /finance- commerce. com /wp- contentlplugins /tdc- sociable - toolbar /wp- print.php ?p =68... 11/22/2013