A new promotional sweatshirt is the latest effort of the city to educate the community about progress in the area.

Saturday, January 20, 2001

A new promotional sweatshirt is the latest effort of the city to educate the community about progress in the area.

The sweatshirt, designed by former mayor Marv Wangen and financed by City Councilor Ron Sorenson, lists the names of 36 industries that have benefited from city aid or programs.

&uot;It’s been an issue for a long time. People sometimes have misconceptions about progress in the city,&uot; said Sorenson. &uot;We’re trying as a city to do a better job of showing how many businesses we’ve helped over the years.&uot;

Business listed on the sweatshirts include companies such as Alamco Wood Products, Edwards Manufacturing, Fountain Industries, Krieger Beverage, Minnesota Freezer Warehouse, Safe Air Repair and Ventura Foods.

Sorenson said the city cooperates with all business and industry, but supported the 36 businesses listed on the sweatshirts in at least one of three specific ways:

* Industrial development revenue bonds – These are sold to raise money for a private corporation’s expansion or construction a new facility. The interest paid on the bonds is tax exempt from income tax so the lender is willing to charge a lower interest rate on the debt.

* Tax increment financing – This is a process where the increase in property tax created by an improvement such as remodeling or expansion is captured by the city and the money used to reduce the cost of the project.

* Land sales -&160;Many companies buy land at below-market prices from the city that was developed by Greater Jobs, Inc. or the Albert Lea Port Authority.

&uot;If even a few people learn something about the number of jobs the city has helped create, then it’s worth it,&uot; said Sorenson.

Local economic developers will be able to use the sweatshirts as promotional items when recruiting new businesses, Sorenson said. For example, the staff of Greater Jobs, Inc. and the Chamber of Commerce can wear the sweatshirts at trade shows.

&uot;I think wearing the sweatshirts shows some community pride,&uot; said Sorenson. &uot;We also want people to know we’re still out there trying to bring new jobs to Albert Lea. This is an ongoing effort to continue to improve the city.&uot;

Sorenson formed a committee to help market the sweatshirts to local businesses. Initially, he ordered 350 sweatshirts in gray and white. They are available at the chamber for $15.