03 - Update from BLADC from Nov. 21st Member Gathering Meeting

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Appendix B: State Municipal IP Land Prices and Marketing �... Minnesota is home to a large number of Micropolitan areas and which possess local industrial/business parks. Typically these parks are run by the local development corporation and/or authority or in cities on the lower Mississippi River(Winona, Red Wing)the local port authority. The parks come in a wide variety of types,ages, and sizes roughly corresponding to the range found in our three Crow Wing County Parks. Due to the wide variety of land values and differences in infrastructure amenities,the sale price at these parks tends to vary considerably. Generally, any lots intended or considered suitable for retail use are much more expensive than those intended for light industrial use. There is a clear pattern of increasing prices as you approach Minneapolis/St. Paul, as evidenced by the price increase along the Hutchinson/Glencoe/Norwood corridor. When it comes to marketing the new and existing lots the local economic development authorities make use of a wide range of options. Creating postings on local government and development authority website listings is a nearly universal practice, as is listing the properties on the Department of Employment and Economic Development's(DEED)MNPRO website. Networking with the local Chamber of Commerce to help prospective business owners is also standard procedure. Most communities encourage local realtors to check these listings and some offer"finder's fees"to those who successfully bring in a ready business. These fees generally range from 2-5% of the sale. Of course if realtors want to purchase the land and attempt to market it themselves that is their own prerogative. A few communities make use of subscription based national matching, information, and networking services like World Economic Development Alliance(WEDA)and the Industrial Asset Management Council (IAMC). 13