HomeMy WebLinkAbout5.d. Marketing and Cold Calls
E X E C U T I V E S U M M A R Y
Port Authority Meeting: April 21, 2020
AGENDA ITEM: Marketing and Cold Calls AGENDA SECTION:
New Business
PREPARED BY: Eric Van Oss, Economic Development
Coordinator AGENDA NO. 5.d.
ATTACHMENTS: None. APPROVED BY: LJM
RECOMMENDED ACTION: Information Item
SUMMARY
As part of the work plan for Economic Development, staff expanded marketing and cold call efforts in the
last year. The addition of the Economic Development Specialist allowed for more capacity to increase
networking and cold calling to developers and potential commercial users. Staff created new lists/databases
of developers and businesses by industry category and devoted significant time reaching out to various
corporate contacts. Staff also attended several industry events such as the MNCAR Fall Expo, Minneapolis
Real Estate Journal summits, and the FamTour with the MN Marketing Partnership in Chicago.
Staff compiled a list of 140 developers and companies divided into the following categories: regional non-
housing developers, non-hospitality retail, bars/restaurants, medical, and multi-family/mixed use
developers. The list included large national chains as well as more regional companies with a multi-city
presence in the Twin Cities. A sampling of companies includes: Panera, Café Zupas, Hy-Vee, Lund’s,
Kowalski’s, Fairview Health, Fleet Farm, Petco, Orange Theory Fitness, Core Power, Punch Bowl Social,
and Menards. These entities were contacted between December 2019 and February 2020, with continuing
follow up after. Other contacts were made via development summits and expos.
Between networking events and cold calls, staff was able to transmit Rosemount specific
marketing materials, site information, market studies and other general development information to a wide
array of developers and brokers. Staff created marketing collateral to distribute at tradeshows and summits.
These marketing materials also were used to send digitally during cold calls to companies and developers.
The marketing materials utilized Esri data to highlight Rosemount’s trends in demographics, consumer
spending, employment, education, household income, and population growth.
Based on feedback and meetings, Rosemount has favorable demographics and growth patterns for many of
the desired brands and caliber of development the Commission envisions. Developers would like to see
continued housing growth and rooftops, particularly as it relates to new areas designated for commercial
development near Akon and in the eastern portions of Rosemount. Many companies are particularly
interested in the traffic counts along County Road 42. Currently County Road 42 has about 15,900 vehicles
per day and most companies would like to see numbers north of 20,000, especially for C-stores, grocery
stores or larger box retailers. For comparison, County Road 42 in Apple Valley’s commercial area averages
closer to 30,000 vehicles per day. Additionally, many retail stores are interested in newer multi-tenant spaces
to rent. Hospitality and restaurant users highlighted a need for more tenant space with end caps and room
for patios.
The COVID-19 pandemic has shifted the outlook for many retailers and companies that had indicated
expansion plans now indicate they probably will not revisit looking for additional locations until late 2020.
When commercial development resumes, developers and companies have indicted tenant space will most
likely incorporate new social distancing practices such as wider distance between booths/tables and more
germ resistant barriers. This could be an opportunity that differentiates Rosemount from most established
Dakota County commercial centers as new build development can incorporate these social distancing
practices.
Staff is also working on a standalone economic development website. This would serve as a one stop shop
for community and demographic information as well as available site and development process information.
The website is not constrained by the configuration of the current city website parameters and incorporates
more of the Esri GIS information.
Staff also launched the Rosemount Business Bulletin, a regular publication highlighting current development
and business activity in Rosemount. This publication has a distribution list of over 400 and includes local
businesses as well as Twin Cities developers and brokers. Looking forward to fall, staff is working on
finding development summits that would include speaking spots and a booth presence to emphasize
development in Rosemount.