Marketing plan created for Kenyon Business Park | News
Now that A-1 Excavating has completed the remaining checklist repairs in the city’s business park, the Kenyon Economic Development Authority is preparing a marketing plan for the available lots.
The EDA set the sale price for land in the business park at its Oct. 26 meeting at 99 cents per square foot.
The tax increase financing will be used to reduce the actual selling price. With the TIF, the city will be able to recoup the costs associated with the purchase and appraisals of the land, according to a note to council from city administrator Mark Vahlsing. The TIF district would be put in place during a development and would be in effect for 10 years. He says TIF could also provide additional assistance on larger projects for things like site development.
Community and Economic Development Associates worked with EDA to develop a marketing plan for the park, developing a community profile and a marketing element.
Vahlsing said EDA will continue to work with CEDA on additional marketing strategies.
Suggested strategies include internal advertisements such as road signs, websites, a city newsletter, and marketing materials. Signage could include the installation of a large sign at the entrance to Kenyon Business Park with lot details, prices and contact details, while the website could have a drop-down list on the page of city ââreception specifically for the park. Adding an aerial videography of the park is also something that could be included.
A leaflet could be inserted in the city’s newsletter and / or with utility bills, and press releases could be written where appropriate. As for external advertisements, they could use unpaid services like acquired media to generate free media coverage, or paid services with real estate agents or digital marketing on social media. Other ideas included in the external advertising plan include advertisements in local newspapers and commercial real estate magazines.
Targeted ads, like connecting with developers and entrepreneurs in the area to raise awareness and generate interest, and working with the local post office to create a small postcard with priority information that can be sent to any address in a specific zip code were also included on the ideas list.
While they are all ideal sources for marketing strategies, Vahlsing said not all of these ideas will be implemented at once, as they all add up quickly.
Vahlsing said they are focusing their efforts locally, as this is usually where most leads are generated. They have already received six contacts, four of whom live or own a property in Kenyon. Vahlsing said digital content and magazine / industry organization search could be considered in 2022.
âThere is a limit to how much we can spend,â Vahlsing said of the advertising costs.
The community profile leaflet includes information about the business park; information on public services; close to highways, freeways, airports and major cities like Rochester, St. Paul and Albert Lea. Key facts about the city, such as history, community attractions, health services, economy, people, top employers, and destinations in cities within 30 minutes, 1 hour, and 6 hours make up the rest. community profile. EDA will review progress at each meeting and plan for the long term. Vahlsing said the main idea right now is to get the word out.
Contact reporter Michelle Vlasak at 507-333-3128. Â© Copyright 2021 APG Media of Southern Minnesota. All rights reserved.