business retention and expansion what it is why it is important how it works what makes it...

Business Retention and Expansion

What it is

Why it is important

How it works

What makes it successful

Business Retention and Expansion

A Community-based economic development strategy with a focus on:

“Taking Care of”

“Nurturing and Supporting”

Businesses in the community

What it is

“An ongoing cooperative effort between business, local government, agencies, other organizations and people in the community with the purpose of identifying opportunities and actions to assist local businesses in expansion, the retention and creation of jobs and the diversification of the local economic base, as well as the implementation of defined actions to improve the local business climate.”

Short Term Objectives

Builds relationship with existing business

Demonstrates and provides support for local businesses

Addresses urgent business concerns & issues

Improves communications

Retains jobs where there is risk of closure

Long Term Objectives

Increases competitiveness of local business

Job creation and new business development

Establish & implement strategic action for local ED

Strong viable economy

Why it is Important

It’s a program that works!

40-80% of new jobs created come from existing businesses

Contributes to the local economy

Strategic business intelligence

More cost effective approach to Economic Development

Why it is Important

Early Warning System

Business Attraction Strategy

Improved business climate

Communities cannot afford not to be involved

in taking care of their existing business sector!

Your Community’s Best Companies

Are

Your Competitor’s Best Prospects

How it Works

Volunteers

Interview Guide

Training

CORE QUESTIONS

What is their take on the outlook for their industry.

What are the companies success stories?

What is the companies growth strategy?

What part will this facility play in those plans?

Are there new products in development?

Has the company looked at the possibility of suppliers closer to the facility?

Resource Network

Economic and Business Professionals

Inside and Outside the Community

Expertise and Resources

RESPONSE

Recognition and promotion

Securing & maintaining adequate labor

Infrastructure problems

Expansion and improvement with industrial buildings and sites

Finance and Expansion

Government regulations and municipal services

Sources of raw materials and TA

What Makes it Successful?

Strong and Committed Leadership

Partnerships

Community Readiness

Human and Financial Resource

Business Service Providers - Engaged

Why Invest in BR+E?

Demonstrates that you CARE!

Builds Networks

Learning Experience

Brings Community Together

Gets Results

RESULTS:

Companies are saved

Companies are helped

Critical issues are identified

Resources are allocated

Policies influenced

Questions