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HomeMy WebLinkAbout4.c. Economic Development Coordinator Update E X E C U T I V E S U M M A R Y Port Authority Meeting Date: November 19, 2019 AGENDA ITEM: Economic Development Coordinator Update AGENDA SECTION: Old Business PREPARED BY: Eric Van Oss, Economic Development Coordinator AGENDA NO. 4.c. ATTACHMENTS: None APPROVED BY: LJM RECOMMENDED ACTION: Information Item ISSUE Previous discussions with the Council and Port Authority indicated a desire for more information regarding completion of workplan activities. There were two areas of focus over the past month; attracting medical services to the community and networking with local and regional economic development professionals and providing updates on ongoing communications. The following highlights some of the economic development activities since the last Port Authority meeting. Commercial Contacts: Kwik Trip: Staff met with a representative from Kwik Trip. Kwik Trip is interested in a second location in Rosemount. Expanded food service and take-and-go meals are an increasingly large source of their sales. The current Rosemount location is not large enough to accommodate an expansion, so Kwik Trip would like to find a second location in town. Staff pitched two intersection locations at Akron and Biscayne. After visiting the sites, Kwik Trip indicated they are interested in those locations especially if the City’s recreation center is located at Akron Avenue. Carousel Way: A vacant parcel represented by the Mid America group just went under contract for development in 2020. The use would be a medical use. Staff has met with business representatives to discuss necessary approvals and schedule. They hope to receive approval this winter to start construction this spring. The development would require site plan approval and an easement vacation. Cerron Commercial Properties: Staff continued to work with Bruce Rydeen to find prospective tenants for the forthcoming spec light industrial space. There have been several differing uses that have been forwarded to Cerron. One of the potential users is one of the breweries that staff met with previously. Cerron is deciding whether they will pull the permit this year or wait until spring 2020. 2 Spec Industrial: Staff had a meeting with Scannell and Meritex regarding spec industrial development in the community. Both indicated an interest in Rosemount and were provided information regarding available sites in the business park. Meritex specializes in smaller format multi-tenant industrial space and has developed several properties in Eagan. Affordable Housing: Staff had discussions with Dominium regarding potential multifamily affordable housing. Businesses with workforce difficulties have indicated that a lack of nearby affordable housing is a barrier to hiring. One of the primary issues with the type of housing is that ~50% of the project costs must be financed by bonds and there is bond volume cap scarcity. Dakota County is an entitlement issuer of volume cap and is allocated approximately $25 - $30 million of cap annually. A Dominium project would likely need an entire year’s allocation. While this is a barrier, staff will be talking to the developer and Dakota County CDA about financing options. Workforce: WDB: Eric Van Oss has joined the Dakota-Scott Workforce Development Board Business Services Committee. This is a group that meets every other month to discuss ongoing economic development activity, grant opportunities, hiring events, and employer needs through Dakota County. Staff has linked Rosemount employers to hiring events and funding/training programs. DCTC: Staff is working with DCTC to partner on workforce and training initiatives. Staff is currently working with DCTC on upcoming training/apprenticeship programs through Rosemount High. Another initiative is to hold an April 2020 Community Forum on Employer-Educator Partnerships. This forum will include Rosemount businesses that have established training programs as well as businesses looking to create their own pipelines. Staff had a November meeting regarding logistics and agenda. Tiger Path: Staff attended the Tiger Path symposium in Hutchinson on November 12, 2019. The program is a partnership between the City of Hutchinson, Hutchinson High School, and local manufactures/employers that created a Career Tech Education program locally. The Tiger Path program incorporates vocational training in high school in 4 different tracks: business, health, manufacturing/trades, and human services. Tiger Path students can be paired with business mentors and participate in student internships with the goal of gaining fulltime employment post-graduation. The success of the program has resulted in several local employers filling their labor shortages with skilled entry level positions. The symposium included creating a curriculum, funding strategies, and forming local partnerships. Staff will be looking to use some of the learned concepts in our workforce strategies.