The Storm Lake City Council this week approved a contract with a premier national retail recruitment partner to assist with local economic development.
The Retail Coach has handled more than 650 assignments in over 40 states. City of Storm Lake Development Services Specialist Lee Dutfield said while comparison data was being gathered for the local option sales tax in similar size communities, it became clear that Storm Lake’s retail sales lag behind other markets in the state…(audio clip below :33 )
Mayor Mike Porsch noted that in addition to analyzing the retail market for Storm Lake, the Retail Coach will also help with recruiting regional retailers for the community…(audio clip below :27 )
Dutfield said the contract allows The Retail Coach to immediately begin research, data collection, market analysis, and identifying sites to recruit targeted retailers through outreach and retail conference representation. This will coincide with retailers and developers plans for the upcoming year. The contract is for The Retail Coach’s retail market analysis and recruitment services, and the service will be available free of charge to any local business that wants it through an online dashboard.
The City plans to move 25-thousand dollars to fiscal year 2023, but the movement of funds may not be necessary as the City is currently under 50-percent of the Economic Development budget. The Retail Coach contract is for one year, and then the City has the option to renew it.