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4 <br /> Business Retention & Expansion <br />Identify and develop programs and initiatives aimed to retain existing businesses in the community <br />and to facilitate their expansion needs. <br /> <br />Results <br /> <br />Identify and implement a Business Retention & Expansion program by the 1st quarter of 2016. <br /> <br />January 12, 2016. The City Council adopted Resolution 2016-011 accepting all five initiatives <br />the Economic Development’s recommended for a Business Retention & <br />Expansion Program. <br />February 1, 2016: Effective start date of the contract with the Metropolitan Consortium of <br />Community Developers for a New Brighton Open to Business program <br />providing small business technical assistance, including capacity to <br />manage small business loan fund. <br />March, 2016: Open to Business began holding regular office hours at the Community <br />Center the first Thursday of every month from 9:30-11:30. <br />May 1, 2016: New web-based materials for the business community went live on the <br />City’s website. <br />May 7, 2016: Open to Business presented at Town Hall/Community Open House. <br />February & August, 2017: 2016 Open to Business Annual Report & 2017 mid-year reports presented <br />to the EDC. <br /> <br />Interpretation <br /> <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 City’s <br />Annual Report, and local Chamber of Commerce outreach <br />• Number of loans made by Open to Business <br />• Number of hours spent with the business community by Open to Business <br />It is recognized these progress areas are somewhat intangible, which is the nature of BR&E efforts. <br /> <br />Response <br /> <br />The City Council approved the EDC’s recommended BR&E program in January and it has taken the <br />entire first quarter to implement most aspects of the plan. A New Brighton Business Spotlight still <br />needs to be developed. Open to Business presented the 2016 Annual Report to the EDC on February <br />1, 2017, reporting 89 hours of assistance to New Brighton businesses and one loan origination. The mid- <br />year 2017 report noted 29 hours of assistance. It is recognized 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.