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4.1.
Economic Development Authority (EDA)
Meeting Date:
02/05/2015
Submitted For:
Patrick Brama
By:
Nichole Wenberg, Administrative Services

Title:

2015 Annual EDA Business Expo

Purpose/Background:

Annually, the Ramsey EDA sponsors a Business Expo.  The purpose of this event is to promote Ramsey's businesses (typically retail and service industries) to the community.  Normally, this event draws 300-500 participants and 45-50 business exhibitors.  Planning for this event has begun.

Purpose of Case: update EDA on coordination efforts and to take EDA direction on how to market this event.

Notification:

NA

Observations/Alternatives:

Below is a status update on a number of items related to this event:

  • Venue: Fountains of Ramsey, working on negotiating the same price as last year ($350)
  • Equipment Rentals: tables, chairs, drapes ($1,000) estimated
  • Event Flyer & Registration: Created, see attached
  • Registrations due Fri. April 3rd: Ramsey Business= $35, Non-Ramsey Business= $50, Electricity fee= $5
  • Preference will be given to Ramsey area retail, service, restaurant, and other industries.  Craft/Merchant vendors and Non-Ramsey businesses will be placed on a waiting list and will be notified if their application was accepted by Tues. April 7th.
  • Marketing:
    • Mailers, 9,000 qty, 2 weeks before event
      • Color, Half Page ($2,500)
    • Mobile Sign Boards, Five ($750)
    • PACT Charter, Color Full Page flyer, 1,800 qty, ($350)
    • Ramsey Resident, Facebook, City's website (free)
  • Exhibitor Registration Form: Created, see attached
    • Staff will be contacting past participating exhibitors
    • Staff will be personally contacting new businesses
Budget for this event is $4,000.  Considering items above (half page color mailers), expenditures will be $4,950.  Staff estimates revenues will be $1,350.  The difference between estimated costs and revenues would be $3,600 ($4,000 budgeted).  Therefore, the EDA would have an estimated $400 of budget remaining. 

ALTERNATIVES:
Besides options below, this case is an update item.  Therefore, Staff is only looking for general input/direction from the EDA.  No specific direction is needed.
 
 Options for use of remaining balance: (to create interest/ improve attendance)
 -Additional advertisements in ABC Newspapers
-Raffle Prize
-Small door prize for first 100 guests
-kids attractions (depending on space available)
-food vendor (if allowable within venue)

Funding Source:

EDA Miscellaneous Operating Expenses, 9230.6249, $4,000 balance

Recommendation:

Provide Staff with general input regarding the 2015 Business Expo planning efforts.

Action:

Provide Staff with general input regarding the 2015 Business Expo planning efforts.

Attachments

Form Review

Inbox Reviewed By Date
Kurt Ulrich Kurt Ulrich 01/30/2015 02:45 PM
Form Started By:
NWenberg
Started On:
01/28/2015 10:48 AM
Final Approval Date:
01/30/2015