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Council approves one-year SRF Consulting contract for 2026 economic-development discovery
Summary
New Richmond approved a one-year scope with SRF Consulting Group for 2026 focused on discovery/market assessment with a budget ceiling of $56,800; council discussed sequencing and asked that staff prioritize actionable items for economic development.
The City Council approved a one-year agreement with SRF Consulting Group to begin a multiyear economic development program in 2026. Staff and SRF representatives described a phased approach: year 1 for discovery and a market/commodity assessment, year 2 for planning and year 3 for promotion. The 2026 scope was presented as a discovery-first year with a capped expense of $56,800 billed on an hourly basis.
Council members pressed staff and the consultant on whether the timeline would produce near-term actionable steps, with some members urging that the consultant prioritize locating and designing land for industrial/business parks (citing rapid regional interest). Staff responded that the first-year market assessment is meant to identify what types of businesses the city can feasibly attract and to inform location decisions for a future industrial park, not to produce schematic design work in the first year.
Council approved the contract for the first-year scope and asked staff to provide updates during 2026, including opportunities for council feedback and participation in stakeholder engagement.
Next steps: SRF will proceed with the discovery scope; staff will provide progress updates to council and coordinate stakeholder outreach.
