HomeMy WebLinkAbout3b. Business Retention & Expansion memoCity of Lakeville
Memorandum
To:Economic Development Commission
From:Kati Bachmayer, Economic Development Manager
Copy:Tina Goodroad, Community Development Director
Justin Miller, City Administrator
Date:December 3, 2024
Subject:Business Retention & Expansion Program
The 2024-2028 Strategic Plan for Economic Development includes five goals:
1. Identify Resources Available for Economic Development
2. Expand Existing Businesses and Promote Entrepreneurship
3. Establish Lakeville’s Competitive Edge
4. Strengthen Lakeville’s Local Tax Base
5. Enhance Lakeville’s Distinct Industrial and Commercial Districts
One of Goal 2’s short term strategies is “2.A. Establish a formal Business Retention and
Expansion (BRE) Program.” Community Development staff has been working on finalizing the
details of Lakeville’s BRE plan throughout 2024 and will formally launch the new program in
2025 in partnership with the Lakeville Chamber of Commerce. Program details will be
provided during the EDC meeting, and an opportunity for Economic Development
Commission members to participate in the BRE visits will be discussed.