Why A Business Retention and Expansion Program Matters
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.
