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14 <br />Business Retention and Expansion <br />Identify and develop programs and initiatives aimed to retain existing businesses in the community and <br />to facilitate their expansion needs. <br /> <br />RESULTS <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 <br />Community 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 <br />the 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 <br />presented to the EDC. <br />August – Dec. 2018: Added information on “Open to Business to the City’s website and made <br />the information easier to find <br /> Hired HVS to complete a market study on whether New Brighton is in a <br />good position to attract a new hotel <br /> Approved a new building for Silver Lake Smiles Dentistry to keep them in <br />New Brighton <br /> Colliers & Ryan worked on a new marketing plan and website to <br />promote uses for Block B in the Exchange <br /> <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 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 /> <br /> <br /> <br />