HomeMy WebLinkAbout6.b. open to business
EXECUTIVE SUMMARY
Port Authority Date: April 20, 2021
AGENDA ITEM: Open to Business AGENDA SECTION:
New Business
PREPARED BY: Eric Van Oss, Economic Development
Coordinator AGENDA NO. 6.b.
ATTACHMENTS: PowerPoint
APPROVED BY: LJM
RECOMMENDATION: None.
BACKGROUND
The City has participated in the Open to Business (OTB) program for several years. The most recent
contract was for a 3-year period and a 1-year contact was renewed on March 16th. The Port budget
takes into consideration the City’s share of the program, which is $4,500. Recently there has been
some turnover in the personal providing the County service and the Port has not had face-to-face
updates from OTB for several years.
For this meeting, our County OTB representative Natalie Mouilso is virtually available to introduce
herself and provide a brief presentation of her OTB work in Rosemount. She has a strong gauge on
the business climate and community and is available for any questions the Port may have. The Port
budget takes into consideration the City’s share of the program, which is $4,500.
RECOMMENDATION
None, informational update only.
Natalie Mouilso
Dakota County Business Advisor
Email:nmouilso@mccdmn.org
Direct :952-451-6390
Dedicated to building strong and stable communities
through economic and community development
•501c3 established 30+ years ago
•CDFI since 2009
•Open to Business
•Direct Lending
•Credit Builder Program
•Public Policy & Advocacy
Free support to small businesses and entrepreneurs
through one-on-one advising, access to capital, and
direct financing
•In partnership with counties and cities
•Active in Dakota County since 2013
•Technical assistance and lending
•Businesses in all stages
•Confidential and objective
•Who is an OTB Client?
Every $1 invested in Open to Business generates an
estimated $20 for small business technical support
2019 Program Wide Client Survey
•192 small business loans
•394 jobs created
•$3.5M in direct loans
•$16.5M in leveraged capital
•$25K median sales tax impact
•$16K median property tax impact
•More than 7,000 TA hours
Dakota County
2020 Outcomes
•COVID 19 response
•Existing businesses
•High touch support
•Virtual office hours
•Bilingual Assistance
•148 Clients Served
•1,500 Hours
•$98,000 Direct Loans
•$133,000 Facilitated
Program Stats
•17 Businesses Assisted
•~41% Existing businesses
•~59% New businesses
•~88% Rosemount residents
•~30% LMI or Minority Owned
•~ 35% Woman Owned
•80 Hours of Direct TA
•13 Jobs impacted (existing)
City of Rosemount
2020 & YTD 2021
Referral Sources
•~42% Municipality
•~42% Web Search
•~16% Other Source
Industry
•~24% Service / Retail
•~24% Construction / Real Estate / Trade
•~18% Health / Fitness
•~18% Food
•~12% Technology
•~4% Consulting
2021 YTD & Upcoming
•3-Part Webinar Series
with Dakota County
Library
•Inver Hills Community
College Student
Success Day
•Business Boot Camp
•Group Learning
Initiative
•Resource Library
•More to come!
Natalie Mouilso
Dakota County Business Advisor
Email:nmouilso@mccdmn.org
Direct :952-451-6390
Business cards &brochures available at City Hall.
Referrals are welcome!