4.2.
| Economic Development Authority (EDA) |
| Meeting Date: | 03/13/2025 |
| Primary Strategic Plan Initiative: | {ud_pd8} |
Title:
2025 Business Network Breakfast Summary and Approval of 2026 Business Network Meeting Budget
Purpose/Background:
Purpose:
Provide EDA with 2025 Business Network Breakfast Summary and Approval of 2026 Business Network Meeting Budget
Background:
Staff has put together a short presentation summarizing the 2025 Business Network Breakfast that took place on January 29, 2025 including the finalized budget. EDA Events are designed to be informational, provide networking/marketing opportunities and to strengthen the City/Business relationships. General and Survey feedback was extremely positive; especially regarding the quality and message of the paid speaker (Ben Utecht). The cost for the Keynote speaker was $2,500 which was a great value. Staff believes that securing speakers of that quality in the future likely will be more difficult and potentially more expensive.
There were quite a few no shows and food left over. Discussion/suggestions/improvements from the EDA relating to this topic are welcomed by Staff.
Staff is asking the EDA for feedback from the 2025 event and approval of the 2026 budget and format of the Business Network Meeting.
Provide EDA with 2025 Business Network Breakfast Summary and Approval of 2026 Business Network Meeting Budget
Background:
Staff has put together a short presentation summarizing the 2025 Business Network Breakfast that took place on January 29, 2025 including the finalized budget. EDA Events are designed to be informational, provide networking/marketing opportunities and to strengthen the City/Business relationships. General and Survey feedback was extremely positive; especially regarding the quality and message of the paid speaker (Ben Utecht). The cost for the Keynote speaker was $2,500 which was a great value. Staff believes that securing speakers of that quality in the future likely will be more difficult and potentially more expensive.
There were quite a few no shows and food left over. Discussion/suggestions/improvements from the EDA relating to this topic are welcomed by Staff.
Staff is asking the EDA for feedback from the 2025 event and approval of the 2026 budget and format of the Business Network Meeting.
Notification:
N/A
Time Frame/Observations/Alternatives:
2025 Business Network Breakfast Summary
The 2025 Business Network Breakfast took place on January 29, 2025 at LaFontaine Event Center. There were 157 RSVP's (the most responses for any EDA networking event) with an estimated 115 attendees representing 49 businesses, including 7 elected officials. A full breakfast buffet was provided for attendees. City and Highway 10 project updates were presented. Keynote speaker, Ben Utecht, spoke about having a strong culture in organizations and businesses. A follow-up survey was conducted after the event which included 20 respondents. The feedback was overwhelmingly positive: 90% rated the overall event as "Excellent" and 100% of respondents indicated they would participate again next year. Comments and suggestions for future event topics were solicited and are attached to this case.
Budget (2025 Event):
The EDA allocated $6,500.00 for the 2025 Business Network Breakfast based on a headcount of 130 with an allotment of $2,500 for a speaker. Expenses came in at $6,829.84 due to an increase in more attendees than originally planned, leaving a deficit of -($329.84). With 157 RSVP's received, food was ordered for 145 people, based on a history of generally 20 no-shows for the event.
Items that need resolution / direction include:
1) Left over food
Future (2026 Event):
Staff has put together three options for the 2026 proposed budget:
NOTE: Staff will bring back to EDA a recommended speaker or speaker options based on the option selected. Staff will solidify the date once speaker options are identified. Based on EDA actions/recommendations, Staff will develop an agenda.
The 2025 Business Network Breakfast took place on January 29, 2025 at LaFontaine Event Center. There were 157 RSVP's (the most responses for any EDA networking event) with an estimated 115 attendees representing 49 businesses, including 7 elected officials. A full breakfast buffet was provided for attendees. City and Highway 10 project updates were presented. Keynote speaker, Ben Utecht, spoke about having a strong culture in organizations and businesses. A follow-up survey was conducted after the event which included 20 respondents. The feedback was overwhelmingly positive: 90% rated the overall event as "Excellent" and 100% of respondents indicated they would participate again next year. Comments and suggestions for future event topics were solicited and are attached to this case.
The EDA allocated $6,500.00 for the 2025 Business Network Breakfast based on a headcount of 130 with an allotment of $2,500 for a speaker. Expenses came in at $6,829.84 due to an increase in more attendees than originally planned, leaving a deficit of -($329.84). With 157 RSVP's received, food was ordered for 145 people, based on a history of generally 20 no-shows for the event.
Items that need resolution / direction include:
1) Left over food
- Order less food - Percentage? 145 meals ordered last year with 157 RSVP's (92%) Maybe 75-80% in future?
- Be OK with the food and cost waste (Cost of doing business)
- How do we get better attendance from people that signed up?
- Service Fee of $5.00 for registration? (returned if attended) Send bill of $5.00 if business doesn't attend?
- Education - Let them know food is ordered based on sign-up (Discliamer)
- Incentives
- Maybe an Attendee List to be provided to only people that attend.
- Drawing for those in attendance
- Leadership
- Enhance management skills/strategy
- Police or Fire and expectations of businesses in Ramsey
- Team building and improving your organization
- County level Economic Development
- Community and law enforcement response to the drug epidemic. Recovery/addiction services, overdose prevention.
- Environmental stewardship/responsibilities of businesses
Other Options for Speakers/Topics
- Company Culture
- Rags to Riches Story
- Business Climate / Market
- Banking / Economic Forecast
- ?City Development / Investment Updates
- Business Succession Planning
- Famous Sports People / Business Development
- Local Celebrities
Future (2026 Event):
Staff has put together three options for the 2026 proposed budget:
1. Option 1 (2024 Format) - Free Speaker (EDA contribution of approximately $4,000)
2. Option 2 (2025 Format) - $2,500 for Speaker (EDA contribution of approximately $6,500)
3. Option 3 (2026) - $5,000 for Speaker (EDA contribution of approximately $8,000)NOTE: Staff will bring back to EDA a recommended speaker or speaker options based on the option selected. Staff will solidify the date once speaker options are identified. Based on EDA actions/recommendations, Staff will develop an agenda.
Funding Source:
Funding for the 2026 Business Network Meeting will be from EDA budget line items 9230.6249 (Operations) and 9230.6246 (Marketing)
Funding will vary from $4,000 to $8,500 depending on the format and utilization of a Speaker for the Event.
Funding will vary from $4,000 to $8,500 depending on the format and utilization of a Speaker for the Event.
Recommendation:
1. Motion to select LaFontaine Event Center as the venue with a date of late January/early February 2026.
and
2. Motion to Adopt 2026 Business Network Meeting Budget (Option 1, Option 2 or Option 3) (Based on discussion)
Outcome/Action:
1. Motion to select La Fontaine Event Center as the venue with a date of late January/early February 2026. (Staff to lock in date based on speakers/venue availability)
and
2. Motion to Adopt 2026 Business Network Meeting Budget (Option 1 ($4,000), Option 2 ($6,500) or Option 3 ($8,000). (Based on discussion)
and
2. Motion to Adopt 2026 Business Network Meeting Budget (Option 1 ($4,000), Option 2 ($6,500) or Option 3 ($8,000). (Based on discussion)
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Brian Hagen | Brian Hagen | 03/06/2025 01:51 PM |
- Form Started By:
- Wendy Schlueter
- Started On:
- 02/07/2025 12:59 PM
- Final Approval Date:
- 03/06/2025