HomeMy WebLinkAboutItem 05.a2010
Economic Development
Annual Report
• Total Permit Valuation = $54,308,186
$72,782,473 in 2009
140 units
174 in 2009
Permit Valuation = $38,718,000
$41,010,000 in 2009
▪ 129 Single Family units
126 in 2009
• 11 Townhomes units
48 in 2009
City o/, 7. lty
2010 Residential Development
CO y of ze
Dakota County Community Development
Agency — Meadowlark Townhomes
40 workforce housing units
Opened Fall 2010
Metro Housing Permits
Comparison (2010)
Maple Grove
Blaine
Woodbury
Shakopee
Lakeville
Plymouth
Prior Lake
Farmington
Chanhassen
Andover
0 50 100 150 200
2010 Housing Permits
250
300
same: Keystone Report .1
6rty at amine
c,ty <,
Metro Housing Units
Comparison (2010)
Woodbury
Blaine
Maple Grove
Bloomington
Apple Valley
Shakopee
Minnetonka
Lakeville
Plymouth
Forest Lake
0 100 200 300 400 500
2010 Housing Units
600
Source: Nays.. Rep. a.
City Blaine
City of
Metro Housing Units
Comparison (2001 -2010)
Blaine
Woodbury
Lakeville
Shakopee
Maple Grove
Plymouth
Brooklyn Park
Eden Prairie
Apple Valley
Farmington
0 1,000 2,000 3,000 4,000
2001 -2010 Housing Units
5,000 6,000
Source: Neysloae Rep. anal
uydampe
City of
4
Dakota County Residential Permit
Value Comparison (total 2001 -2010)
Lakeville
Rosemount
Farmington
Inver Grove Heights
Apple Valley
Eagan MB`
Hastings m
Burnsville
1
0 200 400 600 800 1,000 1,200
2001 -2010 Total Value (in $millions)
City o
2010 Development
Commercial & Industrial
Permit Valuation = $3,742,000
$7,339,500 C/I valuation in 2009
Tax Exempt Projects = $516,000
$8,267,000 in 2009
City of.
2010 Corporate Campus
Development
City of
Malt -O -Meal
Building renovation /expansion
Converted previous warehouse space to 18,000
square feet of two -story office space
Will be able to add up to 100 more jobs
Lakeville Orthodontics
Built a new 4,400 square foot dental office
2010 Commercial Development
• Sawa Japan Steakhouse & Sushi
s Club House Child Care &
Preschool
Dollar Tree
• Miller Comfort Dental
Last remaining space
filled in Argonne Village
City of
CM Permit Comparison
• Commercial
40
35
30
Valuation of 25
Permits in 20
Millions 15
10
5
0
❑ Industrial
•
1 i � � ; l� mml
o` o°
y o d o o o d o d o o d o d o
Year
Cit 0 IC�;'Jly�
Dakota County Cli Permit Value
Comparison (total 2001 -2010)
Lakeville
Burnsville
Eagan
Apple Valley
Inver Grove Heights
Rosemount
Hastings
Farmington
0 50 100 150 200 250 300 350
2001 -2010 Total Value (in $millions)
City of
liAmmisiow
2010 Business Expansions
City of
• While not as many building expansions in 2010,
there were many companies that grew and
expanded their workforce
• Despatch Industries
• ImageTrend
• ConAgra Foods
• Ryt -way Industries
• Imperial Plastics
• Up North Trading Company
• Grain Handler
8
EDC Initiatives
• Manufacturers Appreciation Reception
• Business Retention Program
• Spotlight on Business Program
• 2011 -2013 Strategic Plan for
Economic Development
EDC Initiatives (cont.)
City of_Y('. i ,
• Completion and approval of the 2011 -2013
Strategic Plan for Economic Development
• Approved by City Council on December 6, 2010
• The Strategic Plan continues a tradition of thoughtful
and organized planning for the economic future of
Lakeville
• Incorporates four main goals for the next three years
9
Iselskel
EDC Initiatives
C<y
Create a marketing plan that has a clear
message, is flexible, adequately funded,
creative, aggressive, and targeted that
communicates Lakeville's values, is
broad and sector specific based on
good information
Create a toolbox of incentives
EDC Initiatives
Advocate for:
Better access to 1 -35
Third lane southbound to County Road 50
• East -west corridor connections
• Airlake Airport runway extension
• Sufficient transit funding but not at the
expense of other transportation goals
City of
EDC Initiatives
• Monitor and encourage:
• Expanded telecommunication services
• Better regulatory environment
• Remain in the lower 1/3 tax rates for City
property taxes in Dakota County
• More State funding for the development of
workforce housing
City of
A Challenging Environment
City of
• Lakeville was not immune to the recession and
the past couple of years were difficult for many
businesses and residents -
• Drywall Supply
• Perma- Groove
• Pinnacle Products
• DHY
• Berry Plastics
• Univar
• Century Refining
mieCriw
A Strong Future
City ot�
Brisk start to 2011
2 senior living projects
Kingsley Shores
Hosanna! /Ebenezer Senior Housing
• Walmart
• Industrial /distribution /manufacturing prospects
• Local business expansions
2010
Economic Development
Annual Report
12