Shakopee Economic Development Authority Regular Meeting - April 2, 2025

The Shakopee Economic Development Authority (EDA) met on April 2, 2025, to approve routine business, receive an update on entrepreneurial efforts, and discuss the Canterbury amphitheater and surrounding Southeast Village development. Note: The agenda and transcript list the meeting as April 1, 2025, while the provided meeting timestamp is April 2, 2025; this summary uses the provided timestamp. The meeting was called to order at 7:00 PM and adjourned without objection to May 6, 2025, at 7:00 PM.

Consent Calendar

• The agenda was approved unanimously by voice vote with no discussion.
• The consent business, including the EDA meeting minutes and the EDA bill list, was approved unanimously by voice vote. Before the vote, a member asked about two same-day invoices from Momentum Strategies; staff explained one was the retainer and the other was out-of-pocket expenses.

Discussion Items

Update on Entrepreneurial Efforts

• Michael Kerski (staff) reported the entrepreneur program is funded by fees from Shakopee Public Utilities, which he described as a responsive partner.
• The Foundry program has grown from four members three or four years ago to 35 members today, serving a region from Apple Valley to Waconia; nine participating companies are in Shakopee. Membership is split about 50-50 between female and male founders.
• New companies highlighted included Hardcore Peanut Butter, which aims to launch a peanut-allergy-safe peanut butter by 2027 in partnership with an Israeli lab; its current product is sold out, and the local co-packer could not handle demand. Other new members included Heart Glass (women's swimwear using scanning technology), Nolel (a patented swaddling product), and Michela Mancini, an industrial designer receiving help from Foundry members on intellectual property and manufacturing.
• Growth examples cited: Wolftooth has about 70 employees; Steel Hut Outdoors is in Shakopee with a full-time founder and 3-4 production employees; Iron Concert Media is shipping immersive entertainment technology across the U.S.; Rittenhug's design has one principal but supports 20-30 outside production jobs; Remastered Sleep has 4-5 people; Julio's has 6-7; and one security company has one person.
• Mommy Solutions won Healthcare Minnesota Startup of the Year and the Minnesota Cup, which involves about 1,500 companies. Pelto Health raised $500,000 and has attracted significant press and capital.
• Steelhead Outdoors, an original Foundry company, made in Shakopee, got its $215 small safe into SHIELS and expects chain-wide rollout within six months. The company is seeking larger Shakopee space, is 100% made in the USA, and uses $15 locks versus typical $0.90-$1.00 locks.
• Alan Tolkis, one of the original four founders, is launching his fourth company: a patented exercise machine that lets wheelchair users walk. He has worked on it for about 10 years and personally invested several million dollars.
• The Hub is adding partners: Shakopee Chamber, CDA Center for Entrepreneurship, and Beta Minnesota. Beta Minnesota has supported 264 startups, raised $633 million, and has 2,286 companies out of Beta. The partnership will include pitch workshops, Beta Tuesdays, accelerator access, and Twin Cities Startup Weekend in October.
• The Beta showcase, sponsored by JP Morgan and Northeast Bank, attracted about 250 people. Christy Kemek, an early Foundry success, pitched, wrote a book, and appeared on the BLOX show on Amazon after being interviewed among about 50,000 entrepreneurs.
• TAP 2025 will be at The Landing on September 12, moved to 1 p.m., with 24 Minnesota breweries already committed. The prior event scored 4.9 out of 5 from attendees.
• Commissioner Wayman said the Hub should help people identify their talents and steer them toward trade school, college, or entrepreneurship. Kerski responded that Minnesota State has agreements with technical colleges, the Hub's high-bay space can support advanced manufacturing training, and the Chamber will base workforce development programs there.

Canterbury Amphitheater and Southeast Village

• Kerski reported the EDA and Canterbury are working with Live Nation on the amphitheater and the area to its south, called the Southeast Village. The EDA-owned 28-acre parking lot will be used exclusively by the amphitheater on event days and serve the proposed development the other approximately 320 days per year.
• Canterbury has solicited proposals for a 50-50 cost-share market feasibility analysis to pursue tenants including a hotel, another major new-to-market entertainment user, housing, restaurants, and retail. At least half a dozen proposals from consulting firms have been received; a recommendation is expected in about a month, funded from Canterbury administrative dollars collected from TIF.
• A survey of local employers, including GN Resound (moving its North American corporate headquarters to Shakopee this fall), found potential demand for about 4,000 "better nights" per year beyond the amphitheater; those visitors currently go to Bloomington. The top desired hotel amenities were an airport shuttle and meeting space, plus connection to Canterbury for large events.
• Live Nation will implement a public safety fee on tickets to cover security and traffic costs; the police chief projects 15 officers will be needed for a big event. Parking will rely on MVTA/Southwest Transit remote lots for large events, and an event management plan will be brought for approval in the coming months. Live Nation's Ticketmaster app will direct attendees to parking.
• Kerski said a brand identity will be needed because the destination is separate from Canterbury Park, which has no ownership interest in the amphitheater. When asked about the first concert announcement, Kerski cited Live Nation non-disclosure agreements and said he had not signed one.

Key Outcomes

• Approved the agenda unanimously by voice vote.
• Approved the consent business, including EDA minutes and the EDA bill list, unanimously by voice vote.
• No formal votes were taken on the entrepreneurial or Canterbury development updates.
• Kerski said he would return in about a month with a feasibility study recommendation and later with a Live Nation event management plan for approval.
• The meeting adjourned without objection to May 6, 2025, at 7:00 p.m.