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Business Retention & Expansion <br />Identify and develop programs and initiatives aimed to retain existing businesses in the <br />community and to facilitate their expansion needs. <br />Results <br />Identify and implement a Business Retention & Expansion program by the ist quarter of 2o16. <br />May — December 2015: <br />The Economic Development Commission held five meetings focusing <br />on development of a Business Retention & Expansion Program. <br />December 2, 2015: <br />The Economic Development Commission recommended a resolution to <br />the City Council describing a Business Retention & Expansion program <br />that focused on five initiatives. <br />January 12, 2o16. <br />The City Council adopted Resolution 2o16-oll accepting all five <br />initiatives the Economic Development's recommended for a Business <br />Retention & Expansion Program. <br />February 1, 2o16: <br />Effective start date of the contract with the Metropolitan Consortium <br />of Community Developers for a New Brighton Open to Business <br />program providing small business technical assistance, including <br />capacity to manage small business loan fund. <br />March 1, 2o16: <br />The ist quarter New Brighton Business Spotlight visit will be completed. <br />April 1, 2o16: <br />New web -based materials for the business community will be <br />eveloped and go live on the City's website. <br />Interpretation <br />The City will measure progress on this initiative based upon the following reporting: <br />• Number of hits to the newly created web -based economic development pages <br />• Feedback received via the New Brighton Business Spotlight visits <br />• Participation in County level BR&E efforts, including Accelerate Ramsey County <br />• Day-to-day feedback from the business community pertaining to areas lacking service <br />• Increase economic development marketing efforts including City newsletter articles, the <br />City's Annual Report, and local Chamber of Commerce outreach <br />• Number of loans made by Open to Business <br />• Number of hours s. ent ith the business community by Open to Business <br />Response <br />The City Council only approved the EDC's recommended BR&E program in January and it will take <br />the first quarter of 2o16 to implement various elements of the plan. Once the plan is fully <br />implemented, the efforts will be reported to the EDC. Open to Business will start conducting <br />official office hours in February 2o16. It is recognized that BR&E efforts may not materialize <br />tangible projects on a regular basis, but over time the un -tangible value is vital to maintaining New <br />Brighton as a great place to do business. <br />3 <br />