Consider State of Minnesota Economic Development Marketing Opportunity

PURPOSE
The purpose of this case is to consider authorizing Staff to utilize up to $6,270 of the EDA Marketing Budget (6246) to select, design, and publish an ad in the MN DEED (Department of Employment and Economic Development) Thriving in the North annual publication.

BACKGROUND
In 2017-18, the State of Minnesota, Department of Employment and Economic Development (DEED), began utilizing "Thriving in the North" as their official general marketing publication for economic development purposes.  The City of Ramsey purchased a full page ad in that publication (See attached). This magazine is published in print (15,000 copies), hosted on a website, and available electronically.  This magazine is used by the State of Minnesota to respond to prospects / developers / site-selectors / etc. interested in Minnesota, and at business development events, trade-shows, and meetings, etc. throughout the U.S. and globally).

Staff would recommend highlighting Bunker Lake Industrial Park, including its available acreage and its Shovel Ready Certification.  The City can highlight the existing development in the Bunker Lake Industrial Park and the future Delta ModTech project as well.  The ad can also touch on transportation planning, new City infrastructure and the COR as amenities.

The DEED Thriving in the North publication includes an opportunity for local units of government to place advertisements.  For example, the 2019 publication included ads from Elk River, Coon Rapids, Brooklyn Park, Lakeville, Cottage Grove, Fridley, Columbia Heights and many others (attached is a full list).  City's that participate receive the year-long benefit of:

• Online magazine presence (Thriving in the North, 12,581 Minnesota page views so far in 2019).
• Electronic, sharable, linkable, copy (City website, forward via emails, etc.).
• Magazine is mailed to company owners and corporate level decision makers for Fortune 500 companies, entrepreneurs, talent prospects, site selectors, relocation professionals, law firms, CPA firms, realtors, etc. commercial real estate professionals nationally (sent from Thriving in the North on behalf of Minnesota). Printed copy directly to audience that accounted for $46 Billion in Capital investment the past year.
• Publication is used extensively by DEED (various outlets, as described previously).
• Thriving in the North will create artwork for City, if necessary. The professionally done ad could be used for other advertisement opportunities.

Notification is not required.

LINKS
Site Selection.com website  https://siteselection.com/cc/minnesota/

2019 publication: https://siteselection.com/cc/minnesota/2018/digital.html#page=1


EXAMPLE AD PRICING (Staff preferred ad size)

• Full page - Guaranteed - $6,270 with (1) online square rolling ad (top)
• Full page - General - $5,700 with (1) online square rolling ad (middle / side)

There are other ad options that are smaller than one page and they are included in the attached Media Kit.

EDA Budget: Marketing Account - 6246 (not to exceed $6,250).

Staff believes this marketing opportunity is worth considering.  It provides a unique "bang-for-the-buck" when considering how much the State of Minnesota pushes this publication, and when considering how staff can re-use the Thriving in the North ad for other purposes.  Based on feedback from neighboring cities (Elk River and Coon Rapids), they are happy with how this publication plays into their overall comprehensive marketing strategies (largely about creating positive perception).  Both cities recommend Ramsey get involved; however, both have indicated it's unlikely this one specific ad will generate an influx of calls from prospects. But to that point, if it generates one call that leads to a future project it more than pays for itself.

Staff is excited for the national audience that this publication will reach in 2019-2020 due to it being included with the November 2019 edition of Site Selection Magazine (7,500 copies). 

Motion to authorize/not authorize Staff to utilize up to $6,270 of the EDA Marketing Budget to publish an ad in the 2019-20 MN DEED Thriving in the North annual publication.