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SILVERLODE CONSULTING CORP. ~:: -~~r,;~ Vav~lcr3r~t~rrt StzlUtinns May 29, 2009 Kimberly Wenger Director Planning Department City of North Olmsted 5200 Dover Center Road North Olmsted, Ohio 44070 Dear Kim: ~.Sflve~ IodeC~nsulting,. ,r:~ I prepared a scope of services for 2008/2009 that I believe addresses the key economic development issues of North Olmsted and will effectively advance the business retention and expansion objectives of the city. Our goal will be to use economic development practices that support and enhance stable, sustainable, and diverse growth in employment, earnings, and taxes in the North Olmsted and improve the quality of life for its citizens. Achieving this goal will include the following elements, to be performed by Silverlode: Scope of Services I. Business Retention and Expansion Studies show that nearly 80% of jobs created in a community are from existing businesses in the community. Therefore, it is critical to the long-term economic success of a community to undertake business retention and expansion strategies. We will use a variety of methods to reach out to local businesses to understand their needs and thereby, develop and implement actions to support the retention and expansion of existing businesses. This will include, but not necessarily be limited to, meeting with existing businesses to identify expansion opportunities, linked target industries and companies, business threats, risks of closure, etc. We will identify and pursue redevelopment opportunities for strategic land parcels, towards catalytic growth of North Olmsted as a preferred commercial district in the region. Our business retention and attraction strategies will identify and prioritize target project types that mesh with the city's goals, resources, strengths, and weaknesses. II. Available Sites We will maintain the available sites database of significant commercial properties that are available for sale or lease and will update the list quarterly or sooner as needed. The list will be disseminated to local real estate agents, corporate users, and consultants. The list will also be published on the City website, and included in the available properties lists maintained by Team NEO and the State of Ohio, as appropriate. III. Business Attraction & Marketing Business attraction is the most publicized and recognizable economic development strategy because it creates many jobs at one time and because of the use of incentives and marketing. We will target the following for attraction efforts: high technology firms, regional headquarters and back office operations, health care businesses, retail and service sector employers. As part of our business attraction efforts, we will use marketing techniques to promote the City's strong business location factors that are important to the type of businesses listed above. ?~i: ? C~.b3.9J?u~ ~aa: 21 f~,26~?_4Qi32 ~~ ~~~ ~eripr Avenue, 3rd Ftoor ( Cleveland, Ohio d41 14