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BLADC <br />Mid Year 2010 Report <br />BLADC's Economic Development Mission & Purpose— Create and Retain Jobs, Expand and Diversify the <br />Economic Base, and Bring New Dollars into the Brainerd Lakes Area Economy. <br />BLADC's Economic Development Strategy includes Promoting, Marketing and Assisting <br />1. Entrepreneurial and Start Up Companies <br />Business Retention and Expansion of Existing Companies, and <br />Attraction of new Business Opportunities for Communities <br />Accomplishments to Date: <br />340 Projects <br />$300 Million Dollars in Capital Investments <br />3,600 Jobs <br />(It takes significant commitment and resources by BLADC.) <br />$111.6 million per year in wages <br />(3,600 x $31,000 average per year salary = $111,600,000 million dollars in annual payroll generated by companies that BLADC has assisted.) <br />Property tax impacts of BLADC projects: <br />$3.4 million dollars in local property taxes per year being generated <br />(Assuming an average of $10,000 x 340 projects = $3,400,000 per year in local property taxes being generated by BLADC projects.) <br />More than $700,000 per year in local property taxes by just ten of the companies BLADC has assisted. <br />Nearly $7,000,000 in Grant Funds for area communities and projects <br />Recent Testimonials: (with minor modifications to protect identities) <br />"Had BLADC not helped with site selection and the other roles they played —our manufacturing <br />company would not be in the Brainerd Lakes Area today." <br />"BLADC helped secure the financing for our project." <br />"BLADC was very instrumental in the decision by our company for further expansion in the Brainerd <br />Lakes Area." <br />"BLADC is there when needed by businesses as an advocate." <br />Community Development Strategy— Support initiatives and programs that are important to the general <br />health & long term well being of the community, and will positively impact our area's economic <br />development efforts. <br />2010 Feature Story— Wausau's $27 million dollar investment decision in Paper Plant. <br />Year to Date Inquiries Contacts and Activities (Jan June 2010) <br />Entrepreneurial /Start -Up — 22 <br />Business Retention and Expansion — 37 <br />Attraction Opportunities —13 <br />Other Community and Economic Development Initiatives - 38 <br />BLADC is currently assisting 17 different projects that could create jobs in the area. Of course not all of <br />these projects are going to be successful, but if even a handful of them are it would mean more than <br />one hundred jobs and thousands of dollars of investment in the community. The projects come from all <br />sectors of the local economy. There are several entrepreneurial efforts, a local company looking to <br />open a new facility, and a large national firm looking to expand its presence in our area. BLADC is <br />focused on helping these companies achieve their goals. <br />