Minnetonka staff say business survey and market analysis will guide loan and outreach programs

Kiersten Yeager, Minnetonka City’s economic development coordinator, told commissioners the city is conducting a business phone survey (contracted to Morris Leatherman) and expects results in about a month; a commercial market analysis by Marquette Advisors is also due by the end of the month.

Yeager said the visitor reports for Ridgedale and the city provide anonymized, aggregated data on age cohorts, origin/destination patterns and dwell time that have helped city staff and businesses understand changing customer flows. "The data that we got from [the 2021 survey] was really useful in informing us of what programs and offerings our community wanted," she said.

Staff also reviewed technical assistance partnerships. Contracts with Elevate Hennepin and the Metropolitan Consortium of Community Developers’ Open to Business program expired in 2024; the city council approved 2025–2026 agreements. Yeager highlighted that the county’s Elevate Hennepin program will now offer small‑business loans for general use and for commercial space purchases and improvements.

Commissioners asked about outreach, data privacy and whether the consumer segments can inform local business marketing. Staff reiterated that visitor data are aggregated and anonymized, and that the segmentation is an industry standard intended to help businesses tailor services.

Next steps: staff said they will publish the remaining reports and continue integrating results into the city’s Economic Improvement Program and future business assistance work.