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EDA staff proposes county-funded seats for CEO roundtable to help 'stage 2' businesses
Summary
EDA staff asked the board to preliminarily authorize $4,400 to reserve four seats in an MB Mentors CEO roundtable for 'stage 2' businesses, with a decision and more metrics expected in April; the board requested success metrics before final approval.
EDA staff outlined a proposal to help 'stage 2' businesses scale by participating in a CEO roundtable program administered by MB Mentors. The program is a one-year cohort that organizes 12-seat CEO roundtables; the staff requested board consideration to reserve four seats for Sherburne County businesses at a county cost of $4,400 (to complement about $600 per participating business).
"These CEO round tables...start at a 1 year program," staff said, explaining MB Mentors helps recruit participants and run the cohort. Staff said counties that have run the program report positive feedback and that Anoka and Wright counties were being consulted to form a regional cohort.
Board members asked about measurable outcomes and success metrics; staff said they would provide better metrics and could invite Art Shore from MB Mentors to the April meeting to answer detailed questions. No vote was taken at the meeting; staff indicated they would return in April with additional information and, if partners sign on, seek formal approval to commit the $4,400.
Board discussion also covered the target businesses (manufacturers make up an estimated 80% of local 'stage 2' firms), funding source (professional services budget and potential nonrenewal of a state membership), and the program structure (monthly meetings for a year and potential continuation by participating businesses).
If approved, staff said the program would offset some participant costs and help mid-sized local companies gain peer support for scaling.
