2025 Budget for the City of Shakopee

90

2025 Annual Budget

Fund: Economic Development Authority

Description of Services: The EDA was organized to promote development, improve housing and reduce blighted areas in the city. These services are overseen by the Planning and Development Director with the assistance of the Economic Development Coordinator and other staff as required. The EDA Board is comprised of the City Council Members. The City Administrator is also the Executive Director of the EDA.

Employees:

2022

2023

2024

2025

Director of Planning & Development Economic Development Coordinator Economic Development Specialist

0.5

0.5

0.5

0.5

0 1

1 0

1 0

1 0

Total

1.5

1.5

1.5

1.5

Accomplishments:  Shakopee Gravel has submitted plans for a $375 million redevelopment.

 The city attracted the North American Headquarters for GN. The company, currently in Bloomington, will consolidate GN Resound, Jabra and other subsidiaries in the former Shutterfly building after renovation and will begin with more than 600 employees there in mid-2025.  Funded a façade loan for the office building at First Avenue and Fuller for new windows and other improvements to this very visible corner.  The Amphitheater at Canterbury in under construction with completion slated for Spring 2025.  Shakopee’s entrepreneur group that started with less than a dozen companies is now more than 30 and is now called the Foundery MN.  The EDA continues to seek additional funding for the Hub Innovation Center and is working on a State of Minnesota appropriation.  The successful completion of another year of the annual TAP beer event brought people to Shakopee from all over the United States and featured 42 breweries and 4 members from the Foundery MN.  Staff worked with OPUS Development on a major business park development in the West End and should be completed was completed.  The EDA also worked with Sam’s Club to open a regional distribution facility off Stagecoach. The average wage will be $24 plus benefits. The facility opened and they have invested more than $10 million in improvements.

Goals/Challenges: 

Continue to be a destination location for businesses to want to come to.