10.01 - 2015 BLAEDC Funding Support

Home Browse Search

PEQUOT LAKES ECONOMIC DEVELOPMENT COMMITTEE PEQUOT LAKES,MN August 25, 2014 Mayor Nancy Adams and City Council City of Pequot Lakes, MN 463 8 County Road 11 Pequot Lakes, MN 56472 Dear Mayor Adams and City Council, As members of the Pequot Lakes Economic Development Committee, we would like to take this opportunity to voice our support for this year's increased contribution to the Brainerd Lakes Economic Development Corporation. At our last committee meeting on August 19th, we reviewed the history and accomplishments of BLAEDC in our community as well as the region. We wish to thank Sheila Haverkamp for the many years of service and her contribution to our areas economic growth and vitality. The request for$7,875 represents approximately one half of one percent of the City of Pequot's budget for last year. It is the view of the EDC that past contributions have been a wise investment of our city's tax dollars. The $336,000,000 in capital investments along with the jobs that have been created has benefited our local economic efforts. Not all projects have located in Pequot Lakes, but our local residents are employed at the various businesses and industries throughout our region. (It should be noted that Pequot Lakes has more people who come to our city for employment than work outside our community). It is difficult to put a specific financial return on that modest investment,but we believe it is imperative that we continue to support BLAEDC's efforts on a regional basis, as it has positive affects on all areas that it serves. It allows us to be part of a regional team of small cities and communities and do our share in providing the necessary financial support that has made this organization so successful in our region. Residents of our community are employed at many of the businesses that BLAEDC has assisted over the years. They purchase homes, goods, and services in our community which has a positive financial impact on our tax base as well as the economic health of our city. Our investment in infrastructure and basic city services total well into the hundreds of thousands of dollars each year to provide the quality of life we enjoy. The contribution to BLAEDC is minute in comparison,but the return is great. BLAEDC is a major impetus in our region's growth. The relationship building and sales effort that is needed to encourage investors to locate their businesses in our area, as well as assist existing businesses in their efforts to grow, is a major focus of BLAEDC.