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HomeMy WebLinkAbout11-25-14Lakeville AGENDA Economic Development Commission November 25, 2014 — 4:30 p.m. City Hall, Marion Conference Room 1. Call to order 2. Approval of October 7, 2014 minutes 3. Review of Proposed Dakota County Tax Increment Policy Amendments 4. Overview of 2014 Manufacturers Event 5. Review of EDC's Role and Responsibilities 6. Directors Report 7. Adjourn Attachments: October 2014 Building Permit Report Minnesota's DEED wins national economic development award, Minneapolis/St. Paul Business Journal, 11/18/14 Great MS steps up efforts to build region's talent pool, Finance & Commerce, 11/18/14 Twin Cities ranked 'most affordable' among largest metros for homebuyers, StarTribune, 11/17/14 Forbes: Minnesota 9th in nation for being business -friendly; N.D. No. 2, StarTribune, 11/17/14 Does greater MSP give cities their money's worth? Finance & Commerce, 11/10/14 BTD Invests $33.3 million in 2015 Minnesota Facilities Expansion Project, 10/29/14 State Adds 9,500 Jobs in October, DEED News Release, 11/20/14 No..-a- CITY OF LAKEVILLE ECONOMIC DEVELOPMENT COMMISSION MEETING MINUTES October 7, 2014 Chair Starfield called the meeting to order at 4:34 p.m. in the Marion Conference Room at City Hall. Members Present: Comms. StarField, Tushie, Julius, Smith, Matasosky, Longie, Emond, Collman, Ex -officio member Lakeville Area Chamber of Commerce President Tim Roche. Members Absent: Comms. Vlasak, Mayor Mr'Little, In City Administrator Allyn Kuennen�` Others Present: David Olson, Communli Economic Develop k:_. p Director; Rick Howden, Economic Development Specialist:;a, 2. Approval of August 26, 201*=Q,eting mini Motion Comms. 3. Review of D Mr. Olson sl FinancinaXT 26, Lusly. ✓edp , pprove the minutes of the as nted. Motion carried D Tax R` remen ` "ncing Plan d D M Facturing submitted a request for Tax Increment to a'# bR' `47,14 ° ,IF eligible project costs associated with M :" >..o on also stat City '`�Y`Ire a Tax was inced in the at46, of the requirements of the TIF Statutes is that the ncing Plan, prepared by Springsted Inc, which Mr. Olson ex piped that,tpe County Assessor has provided an estimated range of $12,600,000 to��,14,1QQ,,QbO as the Estimated Market Value for this property after the proposed ex psl The current Estimated Market Value of this property is $7,200,000, which wl result in an estimated available tax increment in 2017 of $119,806 and estimated available increment of $146,601 in 2024. The total estimated amount of available increment for the total duration of the proposed TIF District is $1,077,832. After retaining 5% for administration of the TIF District, the net available tax increment for the project would be $1,023,941. Mr. Olson stated that the reason for retaining funds for administration had to deal with filing reports with the State Auditor, as well as additional internal financial reports that have to be compiled. Economic Development Commission Meeting Minutes, October 7, 2014 Page 2 Mr. Olson explained that since this TIF District will be structured as a "pay-as-you- go" project, the actual amount of increment that will be available will be based on the actual amount of new taxes paid in the future. Mr. Olson stated that this minimizes the risk for the City, as the company will be reimbursed for taxes already collected. There was discussion regarding the lease arrangement of BTD, if they were owned by the same entity or different entities. Mr. Olson indicated that this project will be different than the previous Menasha TIF District, where the owner of the building is the Fulford Group and BTD will be a lessee. BTD will be paying the property taxes through their lease and will be the beneficiary of the TIF District. Mr. Olson requested the EDC recommend to the City Council approval for the proposed Tax Increment Financing Plan for Tax Increment Financing District No. 19 for the BTD Manufacturing Expansion Project. Motion Comms. Smith/Emond moved to recommend to the City Council approval for the proposed Tax Increment Financing Plan for Tax Increment Financing District No. 19 for the BTD Manufacturing Expansion Project. Motion carried. Comm. Matasosky abstained, due to his company, APPRO Development, constructing BTD's expansion. 4. Update on 2014 Manufacturers Event Mr. Howden stated that once again this year, the City of Lakeville will be recognizing our local manufacturers during Minnesota Manufacturing Week, which will take place October 20th -24th. We will be hosting our annual reception for manufacturers at Brackett's Crossing Country Club on Tuesday, October 21St from 4:30-6:30pm. Mr. Howden explained that in addition to the reception, the City has been working with the Lakeville Area Chamber of Commerce to make visits to targeted manufacturers in the Industrial Park the week before Minnesota Manufacturers Week. The goals of the visits are to conduct business retention visits and to encourage attendance at this year's manufactures reception event. Mr. Roche from the Lakeville Area Chamber of Commerce provided an updated itinerary of site visits scheduled. Mr. Howden explained that all EDC Members are invited to attend site visits and if they are able to attend to let him know to expect them for the visit. There was discussion regarding the RSVPs and the program specifics. Mr. Olson reported that there were approximately 50 RSVPs to date and approximately 5 requests for display tables from businesses. There will also be displays for our sponsors, Dakota Electric, Frontier Communications, and Minnesota Energy Resources. Xcel Energy is a sponsor but has not requested a table this year. Additionally the Lakeville Area Chamber of Commerce will also have a table at this Economic Development Commission Meeting Minutes, October 7, 2014 Page 3 year's reception. At approximately 5:30pm, Mayor Little will begin with a welcome statement and following the Mayor's welcome will be prize drawings. 5. Director's Report Mr. Olson reviewed the Director's Report. He commented on the Building Permit Report. He highlighted the downtown parking lot improvements, stating that paving should be starting on Thursday. Mr. Olson highlighted Mendell as they were recognized with a Silver award for midsize company (51 to 250 employees) by Minnesota Business Magazine at their 2014 Manufacturing Awards. Summit Brewing received the Gold award in that class. Mr. Olson noted that the City Council had approved an application from HyVee and Tradition Development for a proposed grocery store in the commercial portion of the Spirit of Brandtjen Farm Development. Mr. Olson explained that cities and counties in the outlying areas have banded together to highlight the issues in the Metropolitan Council's 2040 Transportation Policy Plan, as it does not adequately address the operations, maintenance, and capacity of the regional transportation system. Mr. Olson explained that staff will continue to forward updates on this issue. Mr. Olson noted that he and Mr. Howden will be attending the 8th Annual Minnesota Commercial Association of Realtors on Wednesday, October 29th. The event will allow them to network with 500+ MNCAR professionals and help market the City of Lakeville. Mr. Olson explained that the City Council had approved the FedEx Freight facility at their meeting the previous evening. The facility will be a long cross -dock building that will accommodate FedEx's business to business shipping. Approximately 125 jobs are expected to be created at first. Their plans also include future expansion. There have been discussions over a number of the site improvements that will need to be made. One to note is the extension of Humboldt Road to provide a secondary access to the site. The primary access for FedEx will come from Dodd Blvd onto 217th Street. The City Council approved the project with minimal complaints from residents close to the project site. The land being acquire has been zoned industrial for decades and there will be landscaping and screening to create a buffer. Economic Development Commission Meeting Minutes, October 7, 2014 Page 4 6. Adjourn Meeting adjourned at 5:28 p.m. Respectfully submitted by: Rick Howden, Economic Development Specialist "i Lakeville Memorandum City of Lakeville Community & Economic Development To: Mayor and City Council Economic Development Commission ,-` From: David L. Olson, Community & Economic Development Director/ 2 Copy: Allyn Kuennen, Interim City Administrator Rick Howden, Economic Development Specialist Date: November 21, 2014 Subject: Proposed Amendments to Dakota County's Policy on Tax Increment Financing Dakota County staff has recently distributed the attached proposed revisions to the County's Policy on Tax Increment Financing (TIF). The proposed policy revisions were discussed at a meeting of Community and Economic Development Directors from Dakota County cities and Dakota County Deputy Director of Property and Records Amy Koethe on August 2151 and with the City/County Administrators group and Ms. Koethe on October 24th. The EDC also previously discussed this issue at the August EDC meeting. While a number of technical changes are being proposed that deal with the definitions for affordable housing and other more technical issues, the most significant policy change is the elimination of the County supporting any TIF projects that: "Provide a net increase in livable wage jobs". This change is contained in the Policy Statement in the first paragraph of the Policy. As a result, the County will not support any Economic Development TIF projects that either create or preserve livable wage jobs. This has already been the County's practice for many years because Economic Development TIF Districts are not listed in the first sentence of the policy. This policy was the basis for resolutions being adopted by the County Board indicating that both the Menasha Packaging and BTD Manufacturing Economic Development TIF projects were not consistent with the County's Tax Increment Financing Policy. County staff has indicated that the County plans to update its Strategic Plan for Economic Development in 2015. The Community and Economic Development Directors group indicated in August, that significant changes to the County's TIF Policy should not be acted on until this strategic planning process is completed. However the Administration Finance and Policy Committee of the County Board is scheduled to consider the proposed TIF Policy Changes on Tuesday, December 16th. As a result, staff is recommending that the City submit a letter to the County Board requesting that any significant changes to the County's TIF Policy be delayed until the Strategic Planning process is completed. Attached is a draft letter to be forwarded to the County Board Chair. Recommended Action: Authorize the submittal of the attached letter to County Board requesting that any significant changes to County's Policy on Tax Increment Financing be delayed until the County Strategic Plan for Economic Development has been completed. City of Lakeville Dnc�tinsan� to 'T�r��io November 24, 2014 Commissioner Liz Workman Chair, Board of Commissioners Administration Center 1590 Highway 55 Hastings, MN 55033-2343 RE: Dakota County Policy on Tax Increment Financing Dear Chair Workman: The City has received a copy of the attached draft Tax Increment Financing Policy dated October, 2014 that proposes to eliminate the provision of the current policy that states the County would consider supporting TIF districts that "Provide a net increase in livable wage jobs" along with other more technical changes. Lakeville is home to one of the largest industrial parks in the State of Minnesota and there are a considerable number of existing businesses that have expressed interest or are currently expanding their facilities. The City also has a considerable amount of vacant industrial land available for new industrial businesses. In many instances there are significant infrastructure improvements including upgrades to County roads that are required to facilitate the expansions of these businesses or development of new businesses. TIF is a tool that in some instances can assist the financing of these types of improvements and the City has approved the use of this tool for the Menasha Packaging and BTD Manufacturing Projects earlier this year. These two projects will result in the retention of 435 existing quality jobs and the creation of an additional 115 new "Livable Wage" jobs over the next two years and over $20 million in capital investment in Lakeville. The City requests that dialogue take place regarding the potential for Dakota County to partner with cities to continue to facilitate the creation of livable wage and high wage jobs in Dakota County as part of the County's Strategic Plan for Economic Development. As a result, the City of Lakeville respectfully requests that the County Board delay any action on significant changes to the County's current policy on Tax Increment Financing. The City Council welcomes the opportunity for continued dialogue with the County Board on this issue. 20195 Holyoke Avenue, Lakeville, MN 55044 952-985-4400.952-985-4499 fax www.lakevillemn.gov Respectfully, Matt Little, Mayor c: Commissioner -Elect Mary Liz Holberg Brandt Richardson, Dakota County Administrator Lakeville Economic Development Commission Tim Roche, President of the Lakeville Area Chamber of Commerce Allyn Kuennen, Interim City Administrator Policy 8002 TAX INCREMENT FINANCING Published 09/16/02 Revised: October 2014 POLICY STATEMENT Dakota County w4 -may support housing, redevelopment, renewal and renovation and soils condition TIF districts that increase or have a neutral effect on the number of affordable housing units in the community, clearly demonstrate that they meet the "but for" test, and meet at least one of the following: 1. Provide affordable housing 2. Include livable community housing and provide mixed use 3. Remove blight conditions and/or contamination 4. Provide a Pet Onnro4Vo in. livable wage ebs DEFINITIONS Affordable Housing: 5-0-%- A -f th,-z families served aFe below 80% of mediarl 6RGE)me and the P61FGhase priGe should no be greater thaR the Gurrent purGhase PF'Ge IiMit established for Forst Time Homebuyer programs_-. Rental housing that must meet all of the requirements for a low income housing credit under section 142(d) of the Internal Revenue Codes regardless of whether the project actually receives housing credit including maximum income and rent limits established annually by the U.S. Department of Housing and Urban Development (HUD). Owner occupied housing that must meet both of the_followinq: (1) the definition of "housing oroiect° under Minnesota Statutes 469 1761 Subd 2'. 95 percent of the housing units must be initially purchased and occupied by individuals and families whose household income is less than or equal to the income requirements for qualified mortgage bond projects under Section 143(d) of the Internal Revenue Code: and (2) the Dakota County policy requirement that 50 percent of the housing units must be initially purchased and occupied by individuals and families whose household income is less than or equal to 80 percent of the area median income (AMI) as determined annually by HUD Maximum initial sale price limits will be enforced to ensure homes are affordable to homebuvers at these incomes. Blight conditions: Areas that contain (or conditions that cause) high percentages of dilapidated buildings or otherwise deteriorating and substandard structures. (Minn. Stat. 469.174, subd 10) "But -For" Test: Shows that, in the opinion of the municioalit (i) the proposed development or redevelopment would not reasonably be expected to occur solely through private investment within the reasonably foreseeable future and (ii) the increased market value of the site that could reasonably be expected to occur without the use of tax increment financing would be less than the increase in the market value estimated to result from the proposed development after subtracting the present value of the projected tax increments - be �� �. of median iRGerne OF nGEWRe, the maximurn gross rent would be .. of _,. 5-0-%- A -f th,-z families served aFe below 80% of mediarl 6RGE)me and the P61FGhase priGe should no be greater thaR the Gurrent purGhase PF'Ge IiMit established for Forst Time Homebuyer programs_-. Rental housing that must meet all of the requirements for a low income housing credit under section 142(d) of the Internal Revenue Codes regardless of whether the project actually receives housing credit including maximum income and rent limits established annually by the U.S. Department of Housing and Urban Development (HUD). Owner occupied housing that must meet both of the_followinq: (1) the definition of "housing oroiect° under Minnesota Statutes 469 1761 Subd 2'. 95 percent of the housing units must be initially purchased and occupied by individuals and families whose household income is less than or equal to the income requirements for qualified mortgage bond projects under Section 143(d) of the Internal Revenue Code: and (2) the Dakota County policy requirement that 50 percent of the housing units must be initially purchased and occupied by individuals and families whose household income is less than or equal to 80 percent of the area median income (AMI) as determined annually by HUD Maximum initial sale price limits will be enforced to ensure homes are affordable to homebuvers at these incomes. Blight conditions: Areas that contain (or conditions that cause) high percentages of dilapidated buildings or otherwise deteriorating and substandard structures. (Minn. Stat. 469.174, subd 10) "But -For" Test: Shows that, in the opinion of the municioalit (i) the proposed development or redevelopment would not reasonably be expected to occur solely through private investment within the reasonably foreseeable future and (ii) the increased market value of the site that could reasonably be expected to occur without the use of tax increment financing would be less than the increase in the market value estimated to result from the proposed development after subtracting the present value of the projected tax increments for the maximum duration of the district permitted by the plan. The requirements of this item do not apply if the district is a housing district. (Minn Stat. 4 469.175, Subd. 3, b, (2)), Contaminatedion: The presence of hazardous substances, pollution, or contaminants that require removal or remedial action Livable Community. A community that is designed with 1) mobility options such as transit, walk, bike or drive, 2) protects and enhances natural resources, 3) Provides housing choices including single -family homes, condominiums and apartments in a variety of architectural styles and prices to meet the needs of people of all ages and incomes, and 4) a plan for mixed uses such as locating housing, workplaces, shopping, daily services, schools, parks, civic places and public facilities together in an area. -hasir- needs, food, housing, health GaFe, #anspeFtatien, Ghild GaFe, GlethingipeFsenal and taWAA UP nwnheF typiGally adjusted based on family size, WhetheF A-Ae, OF bAgQ adults aFe weFking, and the Low Income Housing: Housing occupied by persons whose income is at or below 50% of the area median income with rents not exceeding 30% of the 50% area median income. Mixed Use: Developments that include housing, varied by type and prices, integrated with commercial development and places of employment. It includes those developments being accessibility by multiple transportation modes Moderate Income Housing: Housing occupied by persons whose income is at or below 80% of the area median income with housing costs not exceedina 30% of 80% of the area median income. Proiect area: The -geographic area in which tax increment revenues may be spent. Project areas are designated by the development authority under the applicable development law, such as the HRA, port authority, economic development authority, or municipal development act. Qualifying Inspection: The inspections performed to document the status of the property to determine that the district meets the criteria as a redevelopment district, a renewal and renovation district, or other TIF district. Redevelopment: Actions taken to improve areas affected by substandard buildings, blight, railroad or tank facilities, as described by Minn. Stat. § 469.174, subd. 10. Tax Increment Financing: A statutory financing tool used to promote economic development, housing, redevelopment, renewal and renovation in areas where it otherwise would not have occurred. TIF enables an authority to "capture" property taxes generated by new development or redevelopment to pay for development expenses. A TIF authority captures the increase in net tax capacity resulting from new development within a designated geographic area called a TIF district. Tax Increment Financing Authority. An authority created pursuant to Minnesota Statutes to administer a tax increment financing district. (See Minn. Stat. § 469.174, subd. 2) Tax Increment Financing District: The geographic area from which tax increments are collected. The development authority defines the area in the tax increment financing plan. A district may be a -contiguous or noncontiguous area within -a project area. (See Minn. Stat. § 469.174, subd. 9) Tax Increment Financing Plan: A plan that must describe the project supported by tax increment financing, project objectives, development programs and activities to be undertaken, type and duration of district being created, parcels included in the district, estimated costs and revenues, impact on other taxing jurisdictions, and other details of the proposal. The TIF plan may be approved by the municipality after the required public hearing is held. (See -Minn. Stat. § 469.175, subds. 1, 4) SOURCE Tax Increment Financing is governed by Minn. Stat. § 469.174-469.17941792 as amended. Dakota County Board Resolution No. 92-40414-_ GENERAL INFORMATION Dakota County must receive sufficient information to be able to determine that the qualifying criteria has have been met. Depending on the type of TIF district, Dakota County requires documentation related to: • TIF plan • qualifying inspections • analysis of net affordable housing impact within the TIF district or project area • analysis of net livable wage jobs • average market value of comparable housing in the city or area • estimated financial impact on the county • map(s) of the proposed TIF district and project area • traffic study, if appropriate As provided instate lave Minn. Stat. 4 469.174.1a and the Dakota County Transportation Policy Plan, the Dakota County Board of Commissioners shall require the authority to pay all or a portion of the cost of related or required improvements to the county transportation system from increment revenues, if the following conditions occur: 1. The proposed plan would, in the judgment of the county, substantially increase the use of the county transportation system and require construction of road improvements or incur other transportation system costs; and 2. The transportation system improvements are not scheduled for construction within five years under the county capital improvements plan, and, in the opinion of the county, would not be expected to be needed within the reasonably foreseeable future were it not for the tax increment financing district. For projects that are included in the capital improvements plan, the costs of road improvements or other road costs (e.g., traffic controls) which are in the determination of the County the result of a tax increment financing plan or an amendment to a TIF plan, will be subtracted from the County eligible project costs, with the balance of costs divided according to the cost sharing policy of the County Transportation Policy Plan. A County Board resolution is required for any significant deviation from this policy. Dakota County encourages municipalities to furnish TIF plans, or documentation related to the above, at least 45 days prior to the public hearing for the following purposes: 1. To coordinate the timeline of the road improvement cost estimates and the comments from the Dakota County Board. Dakota County reserves the right to identify costs after the public hearing if necessary. 2. To allow for a thorough analysis by all essential county departments and ensuring an appropriate recommendation to the county board prior to the public hearing a. To assure documentation is received timely, in addition to the requirement of delivery to the auditor. Dakota County encourages municipalities to electronically forward the TIF Plan to tax. incrementftco.dakota.mn.us. . which will automatically distribute the document(s) to departments included in the review process Dakota County will indicate its support/non-support for municipal TIF districts via comments in a County Board resolution provided to the city, except when a County Board meeting is not held within the 30 -day response period. If the County Board cannot provide comments by resolution within the 30 -day response i period, comments will be provided following Board action. The Dakota County Board must approve or disapprove all CDA TIF Districts. Dakota County encourages municipalities to 1) limit the duration of the district and supports the early decertification of all TIF districts and 2) require that TIF assistance provided in housing districts be repaid at the time the property is sold or transferred if the home appreciates in value. Dakota County will consider a municipality's history regarding compliance with Dakota County's TIF policy and state law in its deliberation. PROCEDURES The Dakota County Property Taxation & Records Department will develop and maintain procedures. Lakeville officials oppose county TIF policy change By Laura Adelmann November 13, 2014 at 10:22 am Competition for business key to battle Lakeville leaders are rallying local officials to oppose a proposed Dakota County policy change they say could put cities at a disadvantage in attracting or retaining commercial businesses. Dakota County is set to change its policy eliminating job creation as a platform to support tax increment financing. Under such a change, the county's policy would only support TIF for affordable housing projects, not business expansion or development. TIF is a financial agreement to encourage development of properties that without it would otherwise not occur. It allows developers to use the increased property value created by property improvements to fund project costs instead of going to schools, cities and the county, for a set time period. If the policy change is approved, it will counter Lakeville's goals in regard to the creation living - wage jobs, Lakeville Community Development Director Dave Olson said. "That's our goal," Olson said. "That's the policy I operate under, and the Economic Development Commission has recommended we look to facilitate that, to make that happen." He said while Dakota County's proposed policy change cannot stop cities from using TIF for economic development projects, having opposing policies sends businesses a mixed message. "It would be nice if we were working together on economic development," Olson said. Dakota County Administrator Brandt Richardson indicated concern that using TIF for economic development favors some businesses over others and increases taxes. "Our county has long held the point of view that we can best contribute to the economic success of all businesses in Dakota County by providing excellent services at a very low tax rate, rather than choosing certain businesses to subsidize," he said in an email. Richardson said Dakota County is attractive to business because it has the lowest county taxes in the Twin Cities metro area. "Many of our services are essential for businesses," Richardson said. "For example, our county road system 'stands in' for a less-developed state highway system in our county, and the county levy is increasingly important in funding this essential need for our business community. We believe our low county taxes overall are an advantage that at least some other counties do not provide." Richardson said using TIF for affordable housing assists a low-income household instead of assisting a private business that is competing with other businesses that may or may not have the benefit of a public subsidy. Lakeville Mayor Matt Little and Lakeville Chamber of Commerce President Tim Roche are teaming up to advocate for the county to support TIF as a job -creation tool. They plan to appear before the Dakota County Board of Commissioners in December to discourage the proposed TIF policy change. Little said economic development TIF districts provide employment for some of those low-income people living in the subsidized housing. He added that every business has the same opportunity to take advantage of TIF. Dakota County Commissioner -elect Mary Liz Holberg said she supports the city's position to keep job creation as a reason for TIF. "By only supporting affordable housing, you're only supporting one side of the equation," Holberg said. "How do we ever get people out of subsidized housing if we don't support job creation?" Little said he also supports TIF for businesses because it helps Dakota County compete to attract and retain businesses and expansions against neighboring cities, particularly in Scott County, which has fully embraced TIF as a driver of its economic development goals. Scott County Minnesota Chamber of Commerce Communications Director Jim Pumarlo called Scott County "an island" among Minnesota counties for its embrace of the program. Scott established a "First Stop Shop," in 2013 to carry out a shared local goal of government leaders to create enough jobs in the county by 2030 to employ half its local labor force to help reduce congestion on roads going north over the river. The effort is supported by SCALE, the Scott County Association for Leadership and Efficiency, an organization made of all Scott County government leaders, including its seven cities, Shakopee Mdewakanton Sioux Community, Scott County Community Economic Agency and local school districts that include Burnsville -Eagan -Savage. First Stop Shop Business Development Manager Stacy Crakes said she assists the cities in economic development, marketing the county to brokers with business clients seeking locations and responding quickly with information and service when businesses express interest. Crakes said the program has helped to attract 5,000 new direct jobs or spin-off jobs over the last two years from companies who announced they were coming to Scott County. "We're finally getting to the point where some of them are actually starting to move in, buildings are getting completed and hiring has started," Crakes said. New businesses include Shutterfly, Emerson and Data Card. Crakes said some of their initial discussions with those businesses included whether local government was willing to "at least discuss" financial incentives with them. "I think the fact that the county and the cities have said yes, regardless of whether it ended up happening, still showed that there's interest here in working with the businesses and trying to do what it is they need to have done to bring that here," Crakes said. "I think that just those conversations have been instrumental in getting some of those businesses to come to our area." Other views Business advocates in Dakota County express more caution about using TIF as a tool for spurring commercial development. Dakota County Regional Chamber of Commerce President Vicki Stute said the business community most often supports economic polices driven by the private market and "not necessarily government subsidies." She said they want to ensure a level playing field for all businesses. "I can't imagine supporting subsidy where one business gets it and another does not," she said. "There has to be some very special circumstances." Stute said special cases could include development of polluted properties where substantial cleanup is required before development can occur. In 2011, author Randal O'Toole, a Cato Institute public policy analyst, released a paper critical of tax increment financing. He said after freezing the amount new development pays in taxes — not how much governments collect — other taxpayers either have to pay more to cover costs the new developments create or accept lower service levels for the years TIF is in place. O'Toole, who has spoken in the Twin Cities several times regarding economic and transportation issues, also cited the potential for political abuse surrounding TIF. "No matter how well intentioned, city officials will always be tempted to use TIF as a vehicle for crony capitalism, providing subsidies to developers who in turn provide campaign funds to politicians," O'Toole said. Lakeville concerns Before Dakota County has changed its policy to exclude job creation as a reason to support TIF, the county issued resolutions against TIF districts recently established in Lakeville. Holberg questioned why the county would give a negative recommendation on the Lakeville projects before the policy was changed. "We don't want to leave Dakota County cities uncompetitive with cities in other counties," Holberg said. The Lakeville City Council members approved two economic development TIF districts, including one for $1.08 million for a 200,000 -square -foot building expansion to accommodate BTD Manufacturing. Once complete, the building will be over 500,000 square feet, and become the largest single building in Airlake Industrial Park, according to Olson. BTD's expansion is promised to add jobs that pay between $14 and $30 per hour. While the projects enjoyed full council support, several members said they want use the TIF tool with constraint. City Council Member Colleen LaBeau, a real estate business owner, said she has never taken TIF and looks for some of the projects to "stand on their own." "I look at TIF as an opportunity to keep and maintain an existing business, and to be able to expand for someone who is already invested in Lakeville," LaBeau said. "I don't know that having new business that comes in we have to look at it being a TIF opportunity by all means." LaBeau cited concerns at giving TIF for new businesses because it does not generate tax dollars but increases city services. "I'm not saying I'm totally against it," LaBeau said. "What I'm saying is, I don't believe it's for every new project." Council Member Bart Davis called TIF a "viable option," and an "effective tool," but said the city has to be "judicious" in how TIF is used. "You have to make sure you understand the impacts of TIF on all appropriate parties," Davis said. He said he considers each project individually, using criteria that includes jobs created, development goals and if it makes sense at the given time. "With Scott County using it aggressively, I don't know that it's a bad thing," Davis said. "But I think using too much TIF, I don't understand the total impacts of that yet to say whether they're right or they're wrong." Davis said Dakota County has taken a pretty hard stance against TIF for economic development, and while he does not believe the county has to whole-heartedly embrace it, he would like them to have more consideration on using it for certain projects. "I do think it's a very effective tool to spur development, especially economic development," Davis said. He said if Dakota County takes a stance against TIF, it could put the county and Lakeville in a somewhat contentious situation. "From the couple (TIF) projects we've moved through lately, honestly, it's what we feel is best for Lakeville, and we're going to do what's best for Lakeville," Davis said. "We hope Dakota County gets on board with us and supports us. But at the end of the day, while we do look at what's the greater good for Dakota County, we have to first and foremost take care of Lakeville." V it O�� aco 0 WLU 0 J W a>� WW IL Q m Z V m oa LLZ O U O o O tD Ul) LO to w w N V N n N N vn (o V0 N co (0 co V N O (AO Lo O O F V V nwnUOOto O0) wMON (n oto V N tonnM N OOm aoOw toOto W Oo W OwOOn r V V 0) v ab nA CD V Ow 01 n A to V M00 OwA Nr LOM 0)9q m09 M LO to Cl) co .- (D O 0) to M V Mr O O Q n It co Nt V inn ) LO 0 A N C14r rM V r n 0 0,; MtC 00(D w Nf N (toD r r to 0 U) O w r �to r NA00 Cl) UO 0 W 00 M 00 UO r- P. 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Emerson bought the long -vacant ADC building in Shakopee and will use it as headquarters for its Rosemount business. Officials touted an investment of up to $70 million and say the new facility will add up to 500 jobs. Tax incentives for the project were provided by Shakopee and Scott County. INNOVATIONS GREAT PLACES TO MAKE STUFF The Magic of Relationships The City of Chaska leverages relationships and aggressive economic development to become a manufacturing powerhouse. azlier this year, Ken Camey, owner of Exactec, a manufacturer of retail displays and store fixtures was weigh- ing whether he could best accommodate projections for his company's growth by staying in his leased facility in Chaska, or by finding a different location. His company and its 70 employees make products for a Who's Who of retailers like Target and Sears as well as working for individual brands through marketing and design firms. He had purchased the company in 2000, which at the time was a small family-owned contract manufacturer that specialized in laser cutting of sheet plastic. He later transformed it into its current specialty. "The business was here when we bought it," he says. "We stayed in the same building, but we expanded quite a bit and have grown the business. It is probably four to five times the size it was." Camey admits he didn't have "a whole lot of connection" with the city before he realized he needed more space and approached the city to help defray costs associated with a 20,000 square foot expansion for manufacturing and distribution. The expansion would double the company's production capacity in terms of square footage. The city responded quickly with a package that included $100,000 in tax abatement over 20 years. "It made a difference in terms of our decision to go ahead and expand here in Chaska," Carney says. On top of that, he was impressed with the speed with which the city got it done. After talking to people in other cities, he says, he realized it can be a long and drawn out process. "They knew we were on a tight schedule to make a decision and they really accelerated the whole process." "They are very interested in seeing businesses expand here in Chaska. In fact, 8 / ENTERPRISE MINNESOTA OCTOBER 2014 it didn't take long at all." In fact, he says, the city offered Carney "a very good deal" on a piece of property, if he preferred to build a new building from scratch. With the deal done, Camey says, "now we're here for the long term." Jeffrey Dahl, assistant city administrator for Chaska, said that Exactec's experience reflects the city's commitment to jobs. "The city and the council have maintained a key objective over the past many decades that they want good jobs in the community," he says. "With that, we want people to work here, live here, spend their time here -- to build community here." He admits that Chaska might try a little harder because of its location. "It is a little bit more challenging when you are more of a third -ring suburb, far Jeffrey Dahl, Chaska's assistant city manager says his city has a three-part formula for economic success, all revolving around personal relationships. Ken Carney, owner of Exactec, recently secured $100,000 in tax abatement to help with a much needed building expansion. from the urban core," he says. As a result the city invests a lot of time and investment in terms of attracting industries "that have a lot of good quality jobs, where the businesses are part of the community, where the people that work there live in the community and take part in the community„ Chaska's three-part formula for economic success, he says, revolves around relationship building. The first is with the businesses that are already located in Chaska. "We have a proactive business retention and expansion plan. We value those relationships. We make time to meet and have relationships with key businesses through Rotary, the Lion's Club or by making company visits. We want to see how they're doing. They can call us at any time and talk about their needs and have a good relationship, so there are no barriers. We want to stay ahead of the game as far as their plans in the community." The second, he says, is to continually develop relationships with other economic development partners, such as the State of Minnesota, Carver County, and Greater MSP, the regional economic development entity. These relationships, he says, are vital. "We try to be close to the ground and know what new businesses are looking for. "As a result, we've been very successful both getting grant money, and at being the first ones to market ourselves to businesses that might be coming to the state or from a different part of the country." The third leg of the strategy has been to be "very aggressive" in providing incentives to attract businesses through tax abatement, tax increment financing and other areas. "Our council sees the value in that," Dahl says, adding that "it is quantifiable" how those development costs are offset by long term gains in job creation, increased tax revenue and improvements in infrastructure. "If a couple medical manufacturing device firms in town get to be by each other, it all kind of snowballs," he says. "It creates a strong business environment and economic base." One of the biggest recent success stories was when Beckman Coulter was able to leverage direct economic development assistance spearheaded by the city to help bring a hundred new high -paying jobs to Chaska. The Beckman Coulter Chaska facility is part of a company based in Pasadena, California that manufactures biomedical laboratory instruments. Worldwide, the company reportedly has revenue of more than $3.6 billion and more than 12,000 employees. The Chaska -based branch approached the city for help offsetting some development costs related to locating a new line of manufacturing into the plant. "They came to us and asked if there were any programs. With our relationships with the state and the county we were able to provide them with more than $700,000 in funds to help. And it worked. Ultimately, Dahl says, the Beckman Coulter effort will bring a hundred new jobs, averaging $70,000 per year — a home run in any economic development playbook. "The executives know that they can call us to get things done," Dahl says. "And they also know the relationships we have with the state and the county folks that partner with us." t PROUDLY SERVING MINNESOTA BUSINESSES FOR MORE THAN 145 YEARS. Providing our clients and communities the legal counsel, firm commitment, and high principles they deserve. WE SEE SOLUTIONS MINNLUSOUS 613.313000 1 9.. CLOUD 330.=3 14 I-INGTON, OC f03.1fS.3306 OCTOBER 2014 ENTERPRISE MINNESOTA / 9 Memorandum City of Lakeville Community & Economic Development To: Economic Development Commission From: Rick Howden, Economic Development Specialist Copy: David L. Olson, Community & Economic Development Director Date: November 19, 2014 Subject: Recap of 2014 Manufacturers Week Events The annual Manufacturers Appreciation Reception was held on Tuesday, October 21 It at Brackett's Crossing Country Club. This year approximately 90 people representing 32 Lakeville businesses attended the event. Each year during Minnesota Manufacturing Week the City of Lakeville coordinates this event as a way to say thank you to our manufacturing and industrial businesses in the community. Turnout was relatively close to where it has been the last few years. The staff of Brackett's was very accommodating and the layout of the space seemed to help the flow of attendees navigate the vendor tables. In addition to the Manufactures Reception and in partnership with the Lakeville Area Chamber of Commerce and Convention and Tourism Bureau, staff visited 11 industrial park businesses, often time accompanied by members of the Economic Development Commission, City Council and Mayor. Businesses visited were: Hearth and Home Technologies ■ 92 team members at Corporate Headquarters in Lakeville 1,400 team members company -wide at 6 manufacturing plants and 4 regional distribution centers Recently purchased 4 new brands and seeing increase in consumer care area and will be increasing sales force Looking to expand office space into existing "warehouse" space Progressive Rail ■ 25 employees based in Lakeville including conductors, engineers and maintenance staff ■ Serves approximately 50 businesses in the Airlake Industrial Park and can be an indicator of the local economy. ■ After years of an empty warehouse and lack of work, their warehouse is steadily occupied and business has picked up a great deal. ■ Recently added a $1 million building to house cotton seed for a long-term customer. Wausau Supply ■ Employs approximately 36 individuals; 25 warehouse workers and truck drivers and 11 office staff ■ Increase in sales over the last year, approximately 11 % and currently has available land to expand ■ Lakeville location is in line for an investment in expansion and preliminary plans have been looked at. ■ One issue that Wausau is having currently is in hiring truck drivers. Performance Office Supply ■ Employs 65 employees and maintains a no layoff policy ■ Celebrating 301h year in business in Lakeville ■ Innovative staffing schedule allows employees to earn up to $35/hour Advanced Wireless Employs 45 individuals in Lakeville, has sales reps throughout country Creates wireless (mostly radio) communication systems. Primarily used in senior living facilities, also large distribution centers and college campuses. Uponor ■ 35 employees at their Lakeville site ■ Distribution and warehousing supports manufacturing facility in Apple Valley ■ No longer house office staff, but has space to accommodate additional staff J&E Earll Manufacturing ■ 55 employees a in Lakeville ■ Part of J&E Companies with additional facilities in Shakopee, Delano and Amery, WI ■ Facing workforce issues - average age of employees is around 50-55 years Platinum Code ■ Currently employs 25 employees in Lakeville ■ Recently relocated from Burnsville, started in North Dakota. ■ Some work continues at North Dakota location, however most has been relocated to Lakeville. ■ Built for growth, initially leased space out but will be utilizing the space in near future Atlas Specialized Transport ■ Company started in 1984 and relocated to Lakeville in 1997 ■ 6 full time employees and contracts with approximately 30 drivers ■ Specializes in transport of unusual and oversized loads ■ Provides transportation, logistics and warehousing services Hobo, Inc. ■ 28 employees in Lakeville 0 Expanded Lakeville facility in 2002, possibly need to expand in future (including office) ■ Creates, manufactures, sells and distributes car wash detergents Midwest Veterinary Supply ■ Approximately 60 employees in Lakeville ■ Relocated from Burnsville, partly because most of workforce resided in Lakeville ■ Family business started in 1960 in West Fargo, ND ■ Has sales staff of 175 throughout country ■ Distributes products for veterinarians Recommended Action: No action required. This is an update of the 2014 Manufacturers Week Events. City of Lakeville Community & Economic Development Memorandum To: Economic Development Commission From: David L. Olson, Community & Economic Development Director Copy: Allyn Kuennen, Interim City Administrator Rick Howden, Economic Development Specialist Date: November 21, 2014 Subject: Review of EDC Purpose and Responsibilities Chair Starfield has requested that I schedule as a discussion item, the types of items that may or may not be brought to the EDC. This issue was raised recently as a result of a public hearing the City Council held this week on proposed increases to development fees in 2015. Attached is a copy of Resolution 94-41 adopted by the City Council in 1994, This resolution confirms and defines the purpose, responsibilities, and terms of office for the Economic Development Commission. Also attached is a copy of Resolution 2000-79 that amended the composition of the Economic Development Commission. Staff will be prepared to discuss purpose and responsibilities of the EDC as contained in these resolutions and the history of the EDC's involvement in economic development issues and projects over the past 10-15 years. EDC members that have been on the Commission longer than that can hopefully address the role of the EDC on economic development issues prior to that. Olson, David From: Starfield, Glenn M. <Glenn.Starfield@ExpressPros.com> Sent: Monday, November 17, 2014 3:16 PM To: WEB CouncilInfo Email Cc: Olson, David Subject: EDC input Greetings Mayor and Lakeville Council members, I hope you are all enjoying this fine winter day! It has been brought to my attention that the agenda for the council meeting tonight includes a public hearing to consider an ordinance amending fees. I am surprised that the EDC has not had an opportunity to discuss this before moving this to your agenda tonight. As the Chair of the EDC, I strive for our group of volunteers to be engaged and feel that their input matters. An item like this on the agenda tonight could be interpreted that our input is not valued or it could be perceived that items will be brought through the EDC when convenient. You have all appointed us and I ask that no decisions on this are made tonight but rather you allow the EDC to offer some input. We could offer some perspective and make your decision to approve or not approve more widely accepted if we are able to discuss at an EDC meeting before taking a vote. I have also asked Dave Olson to add to our EDC agenda a discussion on what type of items may or may not be brought to the EDC going forward. Clarity on that would help our group operate more effectively. Thank you in advance for your consideration! Sincerely, Glenn M. Starfield - Franchise Owner Express Employment Professionals Lakeville - Savage - Minneapolis Main: (952) 469-5112 Direct: (952) 698-1840 Fax: (952) 469-6936 ale nn.starfieldCcDexoressoros.com www.expressHRcenter.com Click below to see our online brochure! LM Evmw Work far You! CITY OF LAKEVILLE DAKOTA COUNTY, MINNESOTA RESOLUTION Date February 22, 1994 Motion By Harvey Resolution No. 94-41 Seconded By Mulvihill RESOLUTION CONFIRMING_ AND DEFINING THE PURPOSE, RESPONSIBILITIES, AND TERMS OF OFFICE FOR THE ECONOMIC DEVELOPMENT COMMISSION WHEREAS, the City Council wishes to support, promote and assist in the economic development of the City; and WHEREAS, the City Council believes the requirements for maintaining the designation of the City as a "Star City" by the State of Minnesota will greatly enhance the development of the City in a sound, economic manner; and WHEREAS, it is a requirement for the City Council to establish an Economic Development Commission to achieve a "Star City" designation by the State of Minnesota NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lakeville: 1. Establishment. The City's Economic Development Commission is hereby confirmed. 2. Purpose. The purpose of the Commission is to study and review economic development issues and needs, and to advise the City Council on what policies and programs the Council might implement to achieve them. 3. Composition. The Economic Development Commission shall consist of nine (9) persons appointed by the City Council. One member shall be a board member of the Lakeville Chamber of Commerce. Members shall serve three year staggered terms with three appointments made annually. The Mayor and the City Administrator are appointed ex -officio members of the Economic Development Commission. The members and ex -officio members of the Commission shall hold their positions until their resignation, replacement or termination. Vacancies shall be filled by the Council for the unexpired portion of a term. All members shall serve without compensation. 4. Qualifications. The qualifications of the members of the Commission shall be those who, in judgement of the Council, are representatives of the community and are qualified by training, experience and interest useful for the fulfillment of the Commission's responsibility in economic development. 5. Organization/Meetings. At the first meeting of the year, the Commission shall elect a Chairperson, Vice Chairperson and Secretary from amongst its appointed members to serve for a term of one year. The regular meeting date of the Commission shall be the fourth Tuesday of the month. Special meetings may be called as needed by the Chairperson. 6. Attendance at Meetings. Any members of the Economic Development Commission who misses three (3) consecutive meetings, or a total of one-third (1/3) of all meetings in a calendar year, shall automatically be removed from office without City Council action, and the City Administrator shall notify the member of his or her removal. 7. Powers. The Commission shall have no power to make contracts, levy taxes, borrow money or condemn property, but shall have authority and responsibility to investigate and recommend the necessity of taking these and any other actions related to the economic development of Lakeville. 8. Duties. The Commission is an advisory body of the Council with responsibility to provide information and assistance and to cooperate with those interested in new, expanded or upgraded facilities which will enhance the economic strength of the City in a manner consistent with the goals and policies of the City's adopted Comprehensive Plan and Economic Development Plan. The Commission shall consult and cooperate with City departments and other agencies and present recommendations and advice to the City Council for appropriate action to enhance economic conditions in the City. The Commission shall review and make recommendations to the City Council regarding tax increment financing applications. The Commission shall actively promote the optimal and beneficial use of land within the City in order to assist in the realization of the goals and policies of the Comprehensive Plan. As a part of its duties, the Commission shall: 1. Promote communications and interactions between the business community, elected officials and the City's administration to improve the climate for economic development. 2. Develop proactive policies and program recommendations to enhance and facilitate economic development. 3. Develop a marketing plan which creates a positive image of Lakeville as a good place to live and work. 4. Suggest ideas to retain and enhance existing business as well as strategies to bring new business to Lakeville. The Commission shall annually issue a report to the City Council outlining accomplishments of the previous year and explaining the proposed program of work and activities for the upcoming year as part of the Minnesota Star City program. 9. Resolution Repeal. Resolution No. 92-221 is hereby repealed. APPROVED AND ADOPTED by the Lakeville City Council this 22nd day of February , 1994. • i m PC TM 07:8 • �� • ATTEST: Charlene Friedges, Ci Clerk DATE April 17, 2000 MOTION BY Luick CITY OF LAKEVILLE RESOLUTION RESOLUTION NO. 2000-79 SECONDED BY Sindt RESOLUTION AMENDING THE COMPOSITION OF THE ECONOMIC DEVELOPMENT COMMISSION WHEREAS, Resolution No. 94-41 confirming and defining the purpose, responsibilities and terms of office for the Economic Development Commission was approved by the Lakeville City Council on February 22, 1994 and; WHEREAS, Paragraph 3 of Resolution No. 94-41 defines the composition of the Economic Development Commission. NOW, THEREFORE, BE IT RESOLVED that the composition of the Economic Development Commission shall be amended to read as follows: 3. Composition. The Economic Development Commission shall consist of nine (9) persons appointed by the City Council. One member shall be a member of the Lakeville Chamber of Commerce. Members shall serve three year staggered terms with three appointments made annually. The Mayor, City Administrator and Executive Director of the Lakeville Area Chamber of Commerce are appointed ex -officio members of the Economic Development Commission. The members and ex -officio members of the Commission shall hold their positions until their resignation, replacement or termination. Vacancies shall be filled by the Council for the unexpired portion of a term. All members shall serve without compensation. APPROVED AND ADOPTED by the City Council of the City of Lakeville this 17th day of April , 2000. CITY OF LAKEVILLE Memorandum City of Lakeville Community & Economic Development To: Economic Development Commission From: David L. Olson, Community and Economic Development Director Copy: Allyn Kuennen, Interim City Administrator Rick Howden, Economic Development Specialist Date: November 21, 2014 Subject: November Director's Report The following is the Director's Report for November, 2014. Building Permit Report The City has issued building permits with a total valuation of $114,965 through October. This compares to a total valuation of $123,275,384 through October of 2013. The City issued commercial and industrial permits with a total valuation of $9,872,000 through October compared to a total valuation of $9,588,750 during the same period in 2013. The City has also issued permits for 258 single family homes through October with a total valuation of $88,778,000. This compares to 304 single family home permits through October of 2013 with a total valuation of $96,439,000. 2014 MNCAR Expo The City of Lakeville was an exhibitor at the 8th Annual Minnesota Commercial Association of Realtors (MNCAR) Expo on Wednesday, October 29th at the Depot in Downtown Minneapolis. Staff collected more than 100 business cards from members of the broker community and had conversations with most of them. Staff has also met with developers as a result of the event on potential developments in Lakeville. Otto Schmidt, a RE -MAX Realtor from Edina was this year's winner of a Garmin Fish Finder. (See attached letter from Mr. Schmidt.) Downtown Parking Lot Projects Construction of the Downtown Parking Improvement projects located in the Ben Franklin block and the public parking lot on Holyoke Avenue adjacent to the Art Center was completed in October. This project was funded with Dakota CDA TIF funds and Redevelopment Incentive Grant funds from the CDA. County Road 50 Study The City and Dakota County have retained the Planning Consultant Hoisington Koegler Group who has partnered with SRF and Springsted to analyze options for the reconstruction of County Road 50 between Ipava Avenue and Dodd Blvd. There are both single family homes as well a number of long-time Lakeville businesses adjacent to this portion of Co. Rd. 50. The goal of this study is work with property owners to develop a four -lane roadway design that allows the businesses to continue to operate in this area while still providing the necessary roadway improvements. The study will also evaluate redevelopment options in this area of the corridor. The first neighborhood meeting on this project was held on Thursday, November 13th. Individual meetings will be taking place during the next month. Additional updates on this study will be provided to the EDC in the future. Senior and Workforce Housing Projects The City is currently reviewing a 62 unit Senior Housing project at the November 201h Planning Commission meeting. The project is proposed on a site behind the Argonne Village Shopping Center where the former Rainbow (now Cub) Store is located. The project is the fourth Senior Project developed by the CDA in Lakeville. This proposed project is to be constructed in 2016. The CDA is also seeking final approval of a 36 unit Workforce Housing project in the Morgan Square Townhome Development located behind Lakeville Theater. This project is proposed to be constructed in 2015. Development Update United Properties has submitted plans for a proposed Allina Clinic along Keokuk Avenue, north of County Road 70. The proposed building would be 12,507 square feet and will undergo an administrative level site plan review. DLBA Lighting Ceremony The Downtown Lakeville Business Association will have their lighting ceremony on Tuesday, November 25th at 6:00 p.m. at Pioneer Plaza in Downtown Lakeville. EDC members are invited and encouraged to attend this event. Next Meeting Date There will not be a December EDC Meeting. The next regular meeting of the EDC will be Tuesday, January 27, 2015 unless there is a need for a special meeting prior to then. On behalf of staff, we would like to wish all EDC members and your families a Happy Thanksgiving! N W S S S S S S S S S O S � S�S S S S S S S S S S S S S N S S S O S OR 5 O C� 0 0 0 0 O O O O O O O O O O O O O O C O O C O en 0 0 0 0 0 M G4 00 N M N O �O O O 00 eV N m a a en Wo o 8 SS SooScSo oc 0 0Oo 00Qa cQ0 0Q00000 QQ oG U Z-5 0e}}2S 06 o v O N 1- O CZo � en N en W N Ow O ~ W O N O O N n S S N N S S S S O 00 O S O N S O O O O O S n S CO ' S O S S W O to V1 O cV ON O O m r. 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Q.. ri c C V N d w it V cC cO U ate+U ccs LL a7 Ca V N N ^ d d O An G •ap O O w cad N id ed ,�� ,C 0�d`�'. .0 .[ id = q N N a Ir �. •y' N '� U c7c7xx a> �¢c�c�.5a��a33 vn wUA�aav�3 �n �waH S 0 S 0 0 N M O O O 00 N M 0 00 N N 3 11/18/2014 Minnesota's DEED wins national economic development award - Minneapolis / St. Paul Business Journal From the Minneapolis / St. Paul Business Journal :http://www.bizjournals.com/twincities/blog/real_estate/2014/ 11/minnesotas- deed-wins- national-economic-development.htmI Minnesota's DEED wins national economic development award Nov 18, 2014, 1:44pm CST Updated: Nov 18, 2014, 2:05pm CST Sam Black Senior reporter- Minneapolis / St. Paul Business Journal Email I Twitter I Google+ Minnesota economic development officials won a national award this week for a job creation program that helped 26 companies expand in the state. The Minnesota Department of Employment and Economic Development won the Excellence in Access in Capital Finance Award from the Council of Development Finance Agencies (CDFA), a Columbus, Ohio-based nonprofit. DEED won the award for the Minnesota Job Creation Fund, an eight -month-old program that has awarded a combined $15.1 million to 26 companies. The funding recipients plan to invest more than $314 million in expansions here and create 1,570 new jobs. The average state investment through this program is $9,631 per job. The expansions including Code42 Software Inc.'s addition of hundreds of jobs in Minneapolis, Polaris Industries Inc. purchase of a building in n Plymouth and Cardiovascular Systems Inc.'s headquarters relocation in New Brighton. The Job Creation Fund was singled out for being "one of the most innovative" approaches to economic development financing in the country due to its pay -for -performance aspect. Incentives aren't paid to recipients until the companies meet job creation and investment thresholds. "DEED is honored to receive this prestigious national award that recognizes our team's innovative approach to economic development," DEED Commissioner Katie Clark Sieben said. "Minnesotans and our state's economy are benefitting from the smart, pay -for -performance investments made through the Job Creation Fund that is spurring job growth throughout our state." http://www.bizj our nal s.corn /tw i nci ti es/blog/real estate/2014/1 1/m innesotas-deed-wins-national-econom ic-development.html?s= print 1/2 11/18/2014 Minnesota's DEED wins national economic development award - Minneapolis / St. Paul Business Journal The CDFA awards will be presented Thursday at a national conference in Scottsdale, Ariz. Click here to see all the award winners. The companies that have received money from the Minnesota Job Creation Fund, plus how much they received, how much they'll invest and how many jobs they'll create, are: • Cardiovascular Systems, $1,900,000, $30,676,000, 205 ( read more here) • Code42 Software Inc., $2,000,000, $70,000,000, 250 ( read more here) • Emerson Process Management, $905,000, $26,345,000, 200 ( read more here) • Daikin Applied, $880,000, $8,437,552, 40 ( read more here) • Polaris Industries Inc., $800,000 $22,200,000, 100 ( read more here) • Axis Clinicals, $778,988, $11,000,000, 100 ( read more here) • Capital Safety, $750,000, $11,750,000, 100 ( read more here) • Bluegrass Proteins, $650,000, $18,200,000, 56 ( read more here) • Andersen Corp., $626,900, $17,800,000, 100 ( read more here) • Park Industries, $624,266, $5,980,218, 25 ( read more here) • North Star Insurance, $620,000, $9,515,654, 12 • Wurth Adams, $590,000, $27,568,593, 20 ( read more here) • DC Group, $535,516, $6,200,000, 33 ( read more here) • Ikonics Corp., $508,500, $4,300,000, 20 • Heraeus Medical Components, $498,100, $7,762,000, 55 ( read more here) • Menasha Packaging, $422,520, $7,900,000, 15 • Unison Comfort Technologies, $400,000, $626,883, 75 • Super Radiator Coils, 287,500, $3,000,000, 28 • Custom Products of Litchfield, $231,684, $2,151,126, 31 • Harmony Enterprises $215,000 $1,065,000, 14 ( read more here) • Miller Manufacturing, $185,018, $2,026,900, 20 • Halcon Corp., $175,000, $3,300,000, 12 • Team Industries, $174,900, $7,832,000, 16 • Perbix, $139,000, $6,910,000, 12 ( read more here) • Valmont Industries, $129,000, $1,100,000, 15 ( read more here) • Rambow Inc., $84,035, $507,135, 15 Sam Black covers real estate, manufacturing and economic development. http://www.bizj ournals.com/twi ncities/blog/real_estate/2014/11/m i nnesotas-deed-wins-national-economic-developm ent.htm I?s=print 2/2 Greater MSP steps up efforts to build region's talent pool I Finance & Commerce FINANCE& COMMERCE Pagel of 3 Greater MS steps up efforts to build region's talent pool By: Cali Owings November 18, 2014 5:30 pm 0 The adage "hard to get someone to move here, impossible to get them to leave" rings true for the Minneapolis -St. Paul region — with a few exceptions, says Ecolab CEO Doug Baker, who's leading an effort to attract more talented workers to the Twin Cities. J:_g Using U.S. Census data, University of Minnesota researchers found that the region has the highest retention rate of young professionals among the top 25 markets, Baker said. But that picture changes when researchers looked at retaining young professionals of color: The Twin Cities ranks 14th. And when it comes to attracting new workers, the region is a tough sell and Dou ranked 19th. CEO of based co-chair "It has something to do with CNN newscasts with reporters in blizzards, so somehow we have force fo to stop that stuff," Baker said Monday at an annual meeting of Greater MSP. "Fortunately, we ruit re seta know that if we get people to move here, we can usually keep them. Still, too few outsiders talented know how good life is here." in Minnea Paul r Baker, who co-chairs a taskforce on talent for Greater MSP, a private regional economic (Sub[ development partnership, shared findings from the group's new talent attraction and retention ph[ initiative. Non-white professionals come and leave the region at a greater rate than the population overall, said Jami a member of the talent task force and co -executive director at Pollen, an interactive storytelling website. According to a Greater MSP survey of more than a thousand young professionals, the Twin Cities ranks abc average in the amenities that people look for when relocating like good jobs and career opportunities, outc recreation, entertainment, commute times and transportation options, Millard said. Still, the region has a recruitment problem, she said. In another Greater MSP survey, 50 percent of local hr resources professionals said they have trouble recruiting candidates because the candidates lack understar about the area. http://fmance-commerce.com/2014/1 1/greater-msp-steps-up-efforts-to-build-regions-talen... 11/19/2014 Greater MSP steps up efforts to build region's talent pool I Finance & Commerce Page 2 of 3 The region's networks haven't always been open to newcomers and people of color, said Orinthia Montagu president of student affairs at Normandale Community College, who spoke at the event. It's important to h residents connect easily and more quickly so they become rooted in the community, she said. "Highly prized talent have options for mobility. If they don't connect here, they will move on," Montague sE Greater MSP's talent task force is focusing on a few key recruitment and retention areas including improvir inclusion especially for professionals of color, helping to advertise the region to young professionals, assisti companies in high -demand industries to close their short-term talent shortages, and better connecting wor employers. One effort is an advertising campaign developed by the Minneapolis-based Olson agency to encourage you creative people to "Make It MSP." Marquette Financial Cos. CEO Albert Colianni Jr., who co-chairs the task said the campaign aims to "cast the region in a new light" Colianni said the task force envisions a "Make Ii roadshow" of sorts traveling to cities and colleges to encourage people to consider the Twin Cities. The region's workforce has been a competitive advantage for several years, Baker said. At the same time, region doesn't address its workforce challenges, the economic success of the region is at risk, he said. Various estimates show that the demand for workers will outpace workforce growth. The Minnesota State Demographic Center projects a shortage of nearly 130,000 workers by 2020. "The gap, if not closed, is going to limit our region's opportunity to grow and our companies' ability to pros here," Baker said. Other groups are also increasing their efforts in other cities and it will be a priority going forward, accordin Greater MSP CEO Michael Langley. "Talent attraction initiatives like ours have become the critical work of regional economic development org< throughout the country," he said. [[headline]] Greater MSP recap: 5,200 jobs added in 2014 Greater MSP, a St. Paul -based private regional economic development partnership, claims it has helped ad( new jobs to the region since its founding in 2011. The partnership is on track to meet its goal of 100,000 new jobs within five years, Greater MSP CEO Micha said Monday during a recap of the organization's third year. The goal was created to replace jobs lost durir Great Recession and increase it by a 25 percent "margin of excellence" measure. By the end of 2014, Greater MSP estimates its efforts in the region will have helped to add 5,200 jobs and million in capital investment. The 5,200 direct jobs spur an additional 7,500 indirect jobs and about 5,000 construction jobs, Langley said. The job figures reported Monday would exceed the group's work in 2013. The organization said it was invc 20 projects that created 4,903 new jobs and $864 million in capital investment in 2013. The partnership is also involved in promoting the region and enhancing awareness of the Twin Cities as a I do business. In 2014, the group's marketing efforts generated 70 million media impressions with an estime media value of $2.5 million, Langley said. Those efforts included hosting journalists from Japan who wrote Twin Cities for Japanese business audiences. Langley noted that the Twin Cities "took the global stage in sports" through its winning Super Bowl 2018 b hosting the Major League Baseball All-Star Game this summer, bringing the 2016 Ryder Cup to the Hazeltir National Golf Club in Chaska, and most recently, being selected to host the 2019 NCAA Final Four baskethE tournament. http://finance-commerce.com/2014/1 1/greater-msp-steps-up-efforts-to-build-regions-talen... 11/19/2014 11/18/2014 Twin Cities ranked'most affordable' among largest metros for homebuyers I Star Tribune �StarTribune Twin Cities ranked 'most affordable' among largest metros for homebuyers Article by: Kristen Leigh Painter Star Tribune November 17, 2014 - 8:26 PM Minneapolis -St. Paul does not have the cheapest housing stock in the nation, but its higher wages make it the most affordable region for homeownership among the 25 largest U.S. metro areas, according to a new report. Interest.com calculated its new rankings based on several criteria. The study found that the median household income in the Twin Cities is a little more than $67,000 — nearly $15,000 above the national average — and the median -priced home is nearly $213,000. A combination of a relatively low median home price and relatively high income has created the nation's most affordable housing market in the Twin Cities, a survey shows. David Ryder, Bloomberg The margin isn't as great as last year, but the median income in the Twin Cities exceeds the wage requirements for purchasing a home by 23 percent. These figures, when combined with median property taxes and homeowners insurance rates — both of which fall in the middle of the pack — helped lift Minneapolis -St. Paul from the No. 2 spot in 2013 to No this year. "The places that are the most unaffordable are locked in by some geographic constraint." The Minneapolis area "can grow 360 degrees. Most of the time when you talk about this, you talk about sprawl and you think of it in negative terms. But the bottom line is, sprawl keeps your prices down," said Mike Sante, managing editor of Interest.com. Atlanta won the crown in 2013 but swapped rank with the Twin Cities in 2014. St. Louis, Detroit, Pittsburgh, Baltimore, Phoenix, Washington, Dallas and Houston rounded out the top 10. Well positioned, for now "We are now kind of in that sweet spot, where we have low interest rates, lots of good houses coming on the market and, believe it or not, credit is starting to loosen up a bit," said Emily Green, president of the Minneapolis Area Association of Realtors. The Interest.com study also suggests median -income workers cannot afford a home in the remaining large metro areas because wages don't match real estate costs. San Francisco, notorious for steep housing costs, has the worst wage -to -price ratio, with San Diego, New York, Los Angeles and Miami also receiving "F" scorecards, the letter -grade system used in the rankings. Coastal cities like these do not have the option of "360 degrees" of growth afforded to the Twin Cities. It is not uncommon for Bay Area residents to spend half of their income on rent, Sante said, with some people spending as much as 70 percent, which makes the dream of homeownership unattainable. Moving up from the bottom, other unaffordable cities are Boston, Seattle, Sacramento, Denver, Portland, San Antonio and Tampa. Income growth is key "Low mortgage rates are helping home affordability to some extent, but the key ingredient — which has been missing to this point — is substantial income growth," Sante said in a statement. http:/Iwww.startribune.com/business/282990021.htm1 1/2 11/18/2014 Twin Cities ranked'most affordable' among largest metros for homebuyers I Star Tribune For comparison, the median -income earner in Minneapolis -St. Paul may make about $10,000 less than the median -income earner in San Francisco. But, the median -home price in the Twin Cities is $213,000 to San Francisco's $770,000, a gap too great for that wage difference to close. Sante said Minneapolis -St. Paul has a great housing market with better median -priced inventory than other cities but said wages have to keep growing. Year -over -year wages grew by an average of 2 percent across the 25 largest metropolitan areas, but the Twin Cities only grew 1.38 percent in 2013. "If that continues, homes in the Twin Cities will be much less affordable in a decade," Sante said. Kristen Leigh Painter • 612-673-4767 © 2014 Star Tribune http://www.startribune.com/business/2`82990021.htmi 2/2 11/18/2014 Forbes: Minnesota 9th in nation for being business -friendly, N.D. No. 21 Star Tribune StaAribune Forbes: Minnesota 9th in nation for being business -friendly; N.D. No. 2 Article by: Paul Walsh Star Tribune November 17, 2014 - 8:00 PM In Forbes' latest list of the most business -friendly states, Minnesota comes in at No. 9 with the magazine giving the state high marks for "quality of life" and a strong overall economic climate. s EE asi �'===----_--°=-- The Minneapolis skyline as seen from the University of Minnesota. Most notably among Midwest states, North Dakota was ranked Glen Stubbe, Star Tribune second as the Bakken oil boom continues to push its economy forward. Forbes also praised the state's "thriving technology and service sectors." Forbes said the list is based on 36 factors, among them: business costs, labor supply, regulatory environment, economic climate, growth prospects and quality of life. Business costs, which include labor, energy and taxes, are weighted the most heavily. The magazine turned to 11 sources, leaning most heavily on Moody's Analytics. The magazine pointed to Minnesota benefiting from being the home of Target, U.S. Bancorp, General Mills, 3M and Medtronic. It also liked the state for having the fourth -highest percentage of adults with a high school degree at 92.4 percent. "With its good schools, low poverty rate and healthy populace, the state ranks second overall on Forbes' quality of life measurements," the magazine said in its online report. South Dakota, which for years has been airing radio ads in Minnesota touting its business -friendliness, was ranked No. 14. While Forbes gave a nod to that state for its low business costs, the magazine was unimpressed by South Dakota's growth prospects (45th among the 50 states) and quality of life (30th). Wisconsin can be found further down the rankings at No. 32, but Forbes did praise the state for its "Open for Business" campaign that started in 2011 and has boosted the overall employment climate. At the top of the rankings is Utah. Bringing up the rear is Mississippi. Paul Walsh • 612-673-4482 © 2014 Star Tribune http://www.startribune.com/local/28292803l.htmI?utm campaign=Economic%2ODevelopment%200utreach&utm_medium=social&utm source=twitter 1/1 11/18/2014 Behind The Numbers u Best States for Business 2.Ok 223 159 0 Best States for Business List - Forbes SEARCH BROWSE THE LIST Search by place Rank State Search Regulatory Economic Growth Quality Population Utah OTHER LISTS 1 33 Forbes 400 Richest Rank Rank Americans World's Most Powerful 2 North Dakota Women 5 4 The World's Billionaires 6 North Carolina Global 2000 Leading 3 jF Companies i8 4 World's Most Powerful People 24 Virginia 4 7 2 LICENSING OPTIONS 9 31 Forbes 014 5 Colorado Reprints/ BEST STATES FOR E � ®Texas -Prints 35 1 Logo Licensing Products/ Plaques 7 Nebraska 9 5,307,800 13 Purchase Spreadsheet 16 1 1 8 Washington 8 9 Minnesota 2 10 Oklahoma 1,873,500 20 6 30 17 Delaware 29 11 -- 18 22 Iowa 23 12 5,439,200 7 13 Massachusetts 5 15 41 3,865,900 14 South Dakota 15 Indiana a hftp://www.forbes.com/best-states-for-busiriess/list/ 3 2 8 26 31 27 Values Calculated November 2014 Business Labor Regulatory Economic Growth Quality Population Costs Supply Environment Climate Prospects of Life 33 Rank Rank Rank Rank Rank Rank 10 5 4 9 6 10 16 2,923,000 9 9 i8 4 2 24 733,200 4 7 2 24 9 31 9,901,400 24 2 1 12 33 5 8,292,700 35 1 13 8 4 9 5,307,800 13 11 16 1 1 33 26,654,300 8 22 9 2 46 14 1,873,500 20 6 30 17 6 29 7,002,500 33 18 22 7 23 2 5,439,200 7 31 14 5 15 41 3,865,900 2 8 26 31 27 36 930,000 11 39 11 9 42 12 3,099,200 49 3 33 11 16 1 6,719,000 1 16 31 10 45 30 848,5oo 10 45 3 28 31 15 6,585,000 1/3 11/18/2014 Best States for Business List - Forbes 1 Georgia 27 u 4 38 13 38 10,019,900 i e New York 17 LA 45 30 20 3 17 10 19,688,400 i8 Oregon 12 12 39 32 8 35 3,946,100 Florida 19 38 10 15 36 7 32 19,708,200 Maryland 20 41 5 36 16 32 8 5,947,300 Tennessee 21 19 32 7 23 26 42 6,521,500 Arizona 22 25 17 17 47 5 40 6,669,200 23 South Carolina tfrL;,d 29 23 8 37 11 43 4,798,1oo Montana 24 21 14 42 13 19 37 1,019,700 Kansas 25 31 26 12 n 39 28 2,898,700 26 Ohio 30 48 6 22 36 11 11,571,500 / 27 7 Wyoming 17 15 41 42 20 22 583,200 28 1 Idaho � tAt- 16 z9 25 43 25 z3 1,620,900 Louisiana 29 6 41 26 15 29 49 4,631,900 !! Pennsylvania 3 O 42 33 21 zo 38 7 12,775400 Missouri 31 23 38 5 41 43 26 6,055,000 RWV Wisconsin 32 34 37 29 27 18 17 5,75o,600 Kentucky 33 E 14 46 24 29 30 34 4>402,500 Nevada 2 42 32 50 12 45 2,8o6,700 http://www.forbes.com/best-states-for-business/list/ 2/3 11/18/2014 Best States for Business List- Forbes 340 New Hampshire 35 43 19 46 33 24 6 1,325,000 6 Connecticut 3 47 20 37 44 28 3 3,596,700 http:/twww.forbes.com/best-states-for-business/list/ 3/3 California 37 46 28 43 26 3 25 38,499>100 38 Alaska 37 27 43 14 14 44 738,500 Arkansas 39 15 43 35 25 22 47 2,965,900 ' Illinois 40 32 34 34 35 40 13 12,893,800 New Jersey 41 48 25 38 40 37 4 8,913,900 Michigan 42 39 47 19 34 34 21 9,899>500 -�. Vermont 43 44 24 47 19 47 18 625,5oo Alabama 44 25 44 23 45 21 48 4,842,400 Hawaii 45 50 13 50 30 41 19 1,4o9,600 6 Rhode Island 36 35 49 39 35 20 1,052,200 4 New Mexico 47 27 4o z8 46 44 50 2,086,500 8 west Virginia 22 50 48 18 50 39 1,853,600 4 k ' Maine 49 40 36 45 48 48 27 1,328,700 Mississippi 50 18 49 40 49 49 46 2,991,400 http:/twww.forbes.com/best-states-for-business/list/ 3/3 Olson, David From: Skip Nienhaus <skip.nienhaus@ci.burnsville.mn.us> Sent: Wednesday, November 12, 2014 3:05 PM To: Olson, David Subject: Emailing: Does Greater MSP give cities their money's worth Finance & Commerce.htm Does Greater MSP give cities their money's worth? By: James Warden November 10, 2014 1:37 pm 0 So far in 2014, the Twin Cities promotional organization Greater MSP has told Burnsville about seven companies looking for space or land. One of those leads was for Abdallah Candies, which is already based in Burnsville. In the remaining six leads, the companies wanted something bigger than anything available in the city. That's likely to remain the case because Burnsville is built out and doesn't have any of the large tracts of land that Greater MSP's contacts typically want. Still, Burnsville has given Greater MSP $100,000 in its four-year existence and has budgeted $25,000 for the organization in 2015. "Staff is not aware of any site visits that have occurred this year, and there have been no new business attractions to Burnsville from the Greater MSP efforts since the inception of the initiative," Skip Nienhaus, the city's economic development coordinator, wrote in a staff report. Nienhaus is scheduled to discuss these results with the city's Economic Development Commission on Thursday. But he says that Greater MSP's work improves the Twin Cities overall business climate, even in communities that don't see specific business coming in. The results probably won't become a hot topic in this year's budget discussions. "I doubt if it will even bear any discussion before the council," Nienhaus said. Greater MSP is an organization whose tally of projects each year is limited to a small minority of Twin Cities communities. In 2013, it played a part in 20 projects spread among 13 communities and the Metropolitan Airports Commission, according to its 2013 annual report. Minneapolis and Shakopee, which had four projects each, accounted for more than a third of those projects. Its exact role in attracting those projects is unknown because the organization routinely declines to discuss details about what it did, along with basics about how the organization works. Mike Brown, the organization's vice president of marketing and communications, declined to comment for this story, saying the organization does not discuss membership details. But as in Burnsville, even those communities that don't benefit directly continue to see the organization as a boon for the metro and a crucial "rising tide lifts all boats" initiative. "We pull our resources together, and we're stronger together than we would be apart," said Minneapolis Mayor Betsy Hodges, a Greater MSP board member. "I celebrate when good things happen in St. Paul. I celebrate when good things happen in Burnsville." Celebration, though, is about all Greater MSP does publicly. Brown would not disclose how many cities are members of Greater MSP, how much they pay to the organization, how many received leads on new businesses or how many of those leads panned out. Greater MSP has said public funds make up just 20 percent of its revenue, which was $6 million in 2013. The remaining 80 percent comes from private groups. This aligns closely with details Greater MSP reported on the Form 990 it filed with the IRS for tax year 2012, the latest year available. That year, government money accounted for $935,000 of the $5.3 million in grants and contributions it received, or about 18 percent of the total. The exact breakdown of who contributes what isn't available. The 2013 annual report lists 20 cities and 12 counties as "investors." The state's biggest city, Minneapolis, has paid $550,000 total to Greater MSP since 2011, and the mayor's budget includes $125,000 for 2015. St. Paul has contributed $125,000 annually since 2011, or $500,000 total, and will budget the same amount for 2015. The smallest communities — Elko New Market, Belle Plaine and Jordan — are covered through Scott County, which paid $75,000 in 2014 and expects to do the same in 2015. "The county has taken the stance that it's very important, that we want all of our communities to have that opportunity," said Stacy Crakes, business development manager for the Scott County Community Development Agency. Lake Elmo, the smallest city that pays directly to Greater MSP, contributed $5,000 in 2014, said City Administrator Dean Zuleger. The list of investors also includes three other public bodies — the Metropolitan Council (contributed $150,000), the St. Paul Port Authority ($25,000) and the University of Minnesota ($75,000). Greater MSP used that money to drum up 1,406 leads in 2013, according to the annual report. The 20 major projects it played a part in created 4,903 new jobs and $864 million in capital investment, according to the organization. That list of major projects includes three of the big Shakopee projects: the $27 million Datacard headquarters move, the $71 million Emerson expansion and the new $60.9 million Midwestern production hub for Shutterfly. Those projects may not be in Burnsville, but they provide valuable jobs for Burnsville residents, Nienhaus said. "If you're living on our side of the river and you can go to Shakopee instead of crossing the river and going to Minneapolis, you're going to do that," he said. One of the biggest benefits of Greater MSP is visibility, said St. Paul Mayor Chris Coleman, who sits on the organization's board. Site selectors need someone to respond to search inquiries and put communities on their radar. Coleman pointed to Medtronic's 2009 decision to locate its new Diabetes Therapy Management and Education Center in San Antonio as one example of a project the region lost because it didn't have an organization like Greater MSP. (Medtronic announced this summer that it will only end up hiring 1,116 employees for that center instead of the 1,300 to 1,384 workers it promised.) The Twin Cities also didn't have any concerted effort to go forth and talk about the area's great opportunities before Greater MSP existed, Coleman said. "It's a story we've known locally for years, but it's not known across the world," he said. "I think that [Greater MSP] is incredibly strong out of the box." In 2013, Greater MSP's business investment team attended "85 events in nine countries, 30 domestic market visits, and 18 sector -specific trade shows," according to the annual report. The 2012 Form 990 reports $230,800 spent on "lead generation" outside the United States — 45 percent in east Asia and the Pacific, 31 percent in Europe, 21 percent in North America, and 4 percent in the Middle East and North Africa. "What we're doing here is making the Minneapolis -St. Paul region a global region, and Minneapolis as a city is not going to be able to do that with our resources alone," Hodges said. "Greater MSP is a long -game strategy, and it has only gotten started." Related stories: How does Greater MSP compare with peers? and Keeping Abda//ah Candies close to home Share this: • Print • Facebook • Linkedln • Twitter • Google +1 Tagged with: ABDALLAH CANDIES; 'BETSY HODGES ! 'GREATER MSP i ' METROPOLITAN AIRPORTS COMMISSION LEAVE A REPLY 10/30/2014 BTD I BTD Invests $33.3 Million in 2015 Minnesota Facilities Expansion Project BTD Invests $33.3 million in 2015 Minnesota Facilities Expansion Project Oct 29, 2014 BTD Manufacturing, Inc. today announced a $12.1 million expansion at the company's production facility in Lakeville, MN, to accommodate the addition of paint and assembly services. The company also will invest $7.0 million at its Detroit Lakes, MN, facility to provide for growth in its stamping and tooling business. Combined with related equipment costs and lease agreements, BTD's total investment is $33.3 million. It will result in two self-sufficient production and warehouse operations and will permit BTD to offer expanded options to its customers. "We have been studying the acquisition of paint capabilities and equipment intensely for some time," said BTD's president, Paul Gintner. "To meet customer requirements, we have outsourced paint on an increasing basis. By investing in our facilities, we should be able to bring paint in house and significantly reduce logistics." According to Gintner, who was been with the company since 1985, BTD will be better able to control the scheduling of this service in a tight supply market. "And we should be able to bring a higher level of value to our customers with this additional service," he said. The consolidation and construction process will extend over the next two years. "Our goal is to have our painting capabilities operational in the first quarter of 2015," Gintner said. "Moving the tubing operations to Lakeville, consolidating warehouses, and expanding our Lakeville plant will take place throughout 2015 and should be operational by the first quarter of 2016." http://www.btdmfg.comlbase/newslbtd invests_33.3 million_in 2015 minnesota facilities expansion_project 1/1 It Olson, David NEWS RELEASE For Immediate Release Contact: Monte Hanson, 651-259-7149 November 20, 2014 monte.hanson@state.mn.us Steve Hine, 651-259-7396 steve.hine@state.mn.us Correction: An earlier version of this press release said the state added more jobs in the past three months than in any three-month span since 1990. A closer look at the data, however, indicates four other three-month periods have experienced stronger job growth in Minnesota since 1990. This correction includes a modification to the commissioner's quote. State Adds 9,,500 lobs in October -,Unemployment rate drops to 3.9 percent— ST. PAUL — Minnesota employers added 9,500 jobs in October, according to seasonally adjusted figures released today by the Minnesota Department of Employment and Economic Development (DEED). The October gains, combined with September figures that were revised upward by 2,800 jobs, brought job growth over the past year to 49,679 in Minnesota. The state has added 28,300 jobs over the past three months. The unemployment rate fell 0.2 percent in October to a seasonally adjusted 3.9 percent, the state's lowest unemployment rate since June 2006. The U.S. unemployment rate in October was 5.8 percent. 0 "The state's pace of job growth has been impressive in the last three months," said DEED Commissioner Katie Clark Sieben. "These new jobs combined with falling unemployment claims have contributed to Minnesota's recent recognition as one of the best states in the country for business growth." Trade, transportation and utilities led all sectors with 5,200 new jobs in October, followed by education and health services (up 4,500), manufacturing (up 2,300), other services (up 1,200), construction (up 900), and logging and mining (up 100). The following sectors lost jobs during the month: leisure and hospitality (down 2, 100), professional and business services (down 1,300), government (down 700), financial activities (down 400) and information (down 200). Over the past year, professional and business services added 11,722 jobs, followed by manufacturing (up 10,451), education and health services (up 9,536), construction (up 6,877), leisure and hospitality (up 5,051), government (up 3,508), trade, transportation and utilities (up 2,788), other services (up 1,316), information (up 910), and logging and mining (up 616). Financial activities (down 3,096) was the only sector that lost jobs in the past 12 months. In the Metropolitan Statistical Areas, the following regions gained jobs in the past 12 months: Mankato MSA (up 2.7 percent), St. Cloud MSA (up 1.7 percent), Minneapolis -St. Paul MSA (up 1.7 percent) and Rochester MSA (up 0.9 percent). The Duluth -Superior MSA was unchanged. DEED has added a section to its website that examines the unemployment rate by demographics (race, age and gender) and looks at alternative measures of unemployment. Go here for details. DEED is the state's principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. For more details about the agency and our services, visit us at http://mn.gov/deed/ . Follow us on Twitter at twitter.com/mndeed . Seasonally adjusted Not seasonally adjusted Unemployment Rate October 2014 September 2014 October 2014 October 2013 Minnesota 3.9 4.1 3.2 4.3 U.S. 5.8 5.9 5.5 7.0 Employment October 2014 September 2014 Oct. '13- Oct. '14 Level Chan e Oct. 113- Oct. '14 I % Change Minnesota 2,847,000 2 837 500 49,679 1 1.8 U.S. 139,680,000 139,466,000 2,804,000 1 2.0 Over The Year Em to ment Growth By Industry Sector NSA OTY Employment Change % NSA OTY Sob Change OTY Growth Rate (%) U.S. OTY Growth Rate Total Non -Farm Employment 49,679 1.8 2.0 Logging and Mining 616 8.6 5.4 Construction ,877 6.0 4.0 Manufacturing .6 10,451 3.4 1.4 Trade, Trans. and Utilities 2,788 0.5 2.2 Information 910 1.7 1.0 Financial Activities -3 096 -1.7 1.2 Prof. and Bus. Services 11,722 3.3 3.6 Ed. and Health Services 9,536 1.9 2.1 Leisure and Hospitality 5,051 2.0 2.8 Other Services 1,316 1.1 0.8 Government 3,508 0.8 0.4 Metropolitan Statistical Area OTY Employment Change # NSA OTY Employment Change % NSA Minneapolis -St. Paul MN -WI MSA 31,116 1.7 Duluth -Superior MN -WI MSA 35 0.0 Rochester MSA 926 0.9 St. Cloud MSA 1,849 1.7 Mankato MSA 1,532 2.7 129112 Upon request, the information in this news release can be made available in alternative formats for people with disabilities by contacting the DEED Communications Office at 651-259-7161. Minnesota Department of Employment and Economic Development Communications Office Phone 651-398-9459 or 1-800-657-3858 - TTY 1-800-657-3973 An equal opportunity employer and service provider. • SGQuestions? V - Contact Us Dpsm h - of Ernpkrpiaal and Ern n is Dwelopywt STAY CONNECTED: 0®w I® SHARE SUBSCRIBER SERVICES: Manage Preferences I Unsubscribe I Help DEED is an equal opportunity employer and service provider. This email was sent to dolson@ci.lakeville.mn.us using GovDelivery, on behalf of: Minnesota Department of Employment and p--!dkv F Economic Development 332 Minnesota Street Suite E-200 Saint Paul, MN 55101 (800) 657-3858 —9"' O'er , WK