News from the Alexandria Area Economic Development Commission (April 2012)

AAEDC Economic Insights Newsletter

April 2012

Project Updates

Eye Associates of Alexandria:

Construction of the new Eye Associates of Alexandria building (located at 1610 Broadway) is nearing completion.

The AAEDC assisted Hoven and Anderson LLP with securing Tax Abatement benefits from the City of Alexandria to assist with this project.

North Nokomis Redevelopment (Bommerang Sports):

Demolition of the southern portion of the 1110 North Nokomis St commercial property has been completed and construction of a new showroom for Boomerang Marine & Sports is currently underway.

The AAEDC assisted Cowing Robards (the property owner) with applying for Tax Increment Financing benefits from the City of Alexandria to assist with the redevelopment of this property.

Alexandria Technical & Community College Foundation Hall:

The Alexandria Technical & Community College Foundation continues to move ahead with construction of Foundation Hall, a 59,405 sq. ft., 150 bed student housing facility scheduled to open for 2012 Fall Semester students.

The AAEDC assisted the ATCC Foundation with applying for Industrial Development Bonds from the City of Alexandria to assist with the financing of this project.

Board Member Spotlight:

Corliss Stark

Representation: City of Alexandria

Corliss Stark is one of the three City of Alexandria representatives to the AAEDC Board of Directors and has served the organization for 20 years. Corliss is employed by the United Way of Douglas & Pope Counties, is an Alexandria native, and brings a wealth of knowledge, experiences, and passion for the community to the Board.

Douglas County Employment Growth:

The AAEDC recently published the 2012 Douglas County Manufacturers & Support Industries Directory which highlights over 235 organizations. Each year, companies update their information to be listed in this publication - including their current employee counts. Between the 2011 and 2012 publications, the following companies shared that they had experienced significant employee growth:

Alexandria Pro-Fab Company: 125 employees (56% increase)
Brenton Engineering Company: 200 employees (16% increase)
Douglas Scientific: 65 employees (81% increase)
Heritage Transport: 25 employees (67% increase)
ITW Heartland: 120 employees (14% increase)
Powers Machining: 24 employees (60% increase)

Source: 2012 AAEDC Manufacturers & Support Industries Directory company updates

Business Start-up & Planning Assistance

The AAEDC provides free and confidential business start-up and planning assistance to individuals and organizations in Douglas County.

Services typically include:

Assistance with creating a business plan
Site selection assistance
Financial packaging & commercial financial incentives
Demographic information assistance

Since no two businesses or business plans are alike, services are customized to the individual's/organization's needs.

In addition to the listed services, the AAEDC partners with a number of regional business resource organizations that may be accessed to assist clients.

West Central MN Small Business Development Center Holding Monthly Office Hours at AAEDC

In an effort to better serve the entrepreneurs and small businesses of the Alexandria region, the West Central MN Small Business Development Center (SBDC) of Concordia College will be holding regular office hours at the AAEDC the 3rd Thursday of each month, from approximately 9am-1pm.

Appointments outside of these office hours can also be made to meet with an SBDC counselor.

To request assistance or to schedule a meeting with an SBDC counselor, go to www.cord.edu/sbdc or contact Nicole Fernholz at the AAEDC.