Why A Business Retention and Expansion Program Matters

Did you know that about 80 percent of new jobs and capital investment comes from companies that already exist in your community?

  • The main goals of business retention are to provide assistance with issues that could force a company to fail or close, and to prevent companies from relocating to a new community.
  • The main goal of business retention is to help businesses grow!
  • A successful Business Retention and Expansion (BRE) Program also provides data and intelligence to strategically attract new companies to a community and foster the creation of new businesses.

A Business Retention and Expansion (PRE) Program

  • Preserves and increases local jobs
  • Preserves and increases local tax revenues
  • Maintains or diversifies the local economy
  • Maintains or diversifies access to goods and services

What Kinds of Help Do Businesses Need?

  • Finding land or buildings for future operations
  • Securing financing for new equipment or operations
  • Finding or training new workers
  • Help with permitting, licensing, or infrastructure needs
  • Technical assistance for exporting, market development, post-disaster continuity, and other growth opportunities and challenges.

Who Benefits from a Business Retention and Expansion Program?

  • Businesses benefit from community support to solve problems that would cause them to fail, close or move away.
  • People benefit from having local job opportunities (choices among a range of employers, types of jobs and industries) and local access to shopping and services.
  • The community benefits from a stable tax base, business civic engagement, vitality and local pride.