05.02 - BLADC Presentation/Consider Contract Renewal

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OR City of Peguot Lakes's Financial Contribution & Return on Investment Created 10/26/2011 2092 Annual Funding Request = $6,750 out of $269,075 or 3% This reflects a 0% increase compared to 2011. Return on Investment 2009- 2011(YTD) BLAEDC Accomplishments in the City of Pequot Lakes • 11 % of Projects (5 in Pequot Lakes) • 10% of Jobs (created and retained in Pequot Lakes -105) • 16% of Capital Investment (Pequot Lakes Investment $9,512,091) Pequot Lakes Projects — Below are just a few examples of success stories for the City of Pequot Lakes in 2009 - 2011(3`d qtr.). • Oppidon Grocery Store • Lonesome Cottage Manufacturing • Babinski Animal Shelter • Babinski Modular Manufacturing Pequot Lakes Property Taxes — $62,941, per year of property taxes to the City of Pequot Lakes from 3 companies that BLAEDC has assisted over the years. Estimated Based on 2011 Taxes Paid /Payable Landis + Gyr $59,969 Northern Tool $19,609 Water Wars $11,232 Total $90,810 69.311% to the City of Pequot Lakes Per Year $62,941 Area Business Assistance Grants: • $75,000 to assist entrepreneurs with start-up companies Inquiries Fielded — BLADC managed between 22 - 47 inquiries, contacts, and activities per month with a total of 986 in 2009, 2010, and 2011(YTD). • Inquiries range from business start-ups, companies and individuals looking for information, industry attraction leads, to community development project opportunities. • BLADC estimates 1 to 2 hours /inquiry • On average the 100 qualified prospects will result in 20 successful projects for our community. • BLADC estimates that successful projects can take 3 to 180 days of staff time to complete. Current Marketing Projects: • Executive Initiative • Social Media Launch • Entrepreneur Initiative • Spotlight on Business Executives • Tech Services Workforce Initiative • Data Center Attraction The Crow Wing County Connection: A unique factor in Crow Wing County is that the average commute distance to work is 20 minutes. That means that a number of companies located outside of the Brainerd city limits employ residents of Brainerd. Where the city may not benefit directly from the associated tax base, their citizens have employment that benefits everyone. A few examples of companies like this that BLAEDC has assisted in either locating or expanding are: Silent Power, Magnum Machining, Stem Industries, and NY Mint to name a few. BLADC represents a multi - government economic development program that is affordable for all Crow Wing County communities including Brainerd.