State of Minnesota Economic Development Marketing Initiative

PURPOSE
Authorize staff to utilize $5,000 of the EDA budget to select, design, and publish an ad in the MN DEED annual publication.

BACKGROUND
In 2015, the State of Minnesota, Department of Employment and Economic Development (DEED), began utilizing "Business Climate" (now Livability Media)  magazine as their official general marketing publication, for economic development purposes.  This magazine is published in print (10,000 copies), hosted on a website, and available electronically.  This magazine is used by the State to respond to prospects/ developers/ site-selectors/ etc. interested in Minnesota, and at business development events/ trade-shows/ meetings/ etc. (throughout the U.S. and globally).

The DEED/ Business Climate publication includes an opportunity for local units of government to place advertisements.  For example, the 2017 publication included ads from Elk River, Blaine, Coon Rapids, Otsego, Brooklyn Park (attached is a full list).  City's that participate receive the year-long benefit of:

• Online magazine presence (Business Climate Magazine, 300,000 visits in 2016).
• Electronic, sharable, linkable, copy (City website, forward via emails, etc.).
• Magazine is mailed to company owners and corporate level decision makers for all Fortune 500 companies, entrepreneurs, talent prospects, site selectors, relocation professionals, law firms, CPA firms, realtors, etc. commercial real estate professionals nationally (sent from Business Climate on behalf of Minnesota).
• Publication is used extensively by DEED (various outlets, as described previously).
• Business Climate will create artwork for City--can be used for other advertisements/ copied.

NA

LINKS
http://livability.com/
2016 publication: http://www.businessclimate.com/state-of-minnesota-economic-development-digital-magazine/


EXAMPLE ADS

• Full page - $4,085 with (1) online medium rectangle (Top) – $4,985 also with MN Livability Home Page (Top) online medium rectangle Ad - $5,885.
• Two-Thirds Page Bleed (only ad on page) - $3,565 with (1) online Leaderboard (top) - $4,465 also with MN Livability Home Page (Top) online Leaderboard Ad - $5,365.
• ·Half-page vertical - $2,985  with (1) online leaderboard (top)– $3,885 also with MN Livability Home Page (Top) online Leaderboard Ad - $4,785.
• Half-page horizontal - $2,480 with (1) online leaderboard (top) – $3,380 also with MN Livability Home Page (Top) online Leaderboard Ad - $4,280.
• Third page Vert. or Horiz - $1,955 with (1) online leaderboard (middle) – $2,675 also with MN Livability Home Page (middle) online medium rectangle Ad - $3,395.

EDA Budget: Marketing Account (not to exceed $5,000).

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 Business Climate 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.

UPDATE: staff is excited for the national audience that this publication will reach in 2018 due to the super bowl being hosted in Minneapolis.  After 2018, staff believes it would be worth reevaluating this investment.  However, 2018 appears to be a unique opportunity.

Motion to: [authorize/ not authorize/ amend] 
Authorize staff to utilize $5,000 of the EDA budget to select, design, and publish an ad in the 2018 MN DEED/ Business Climate annual publication.