Business Retention & Expansion
Self-reliant local economies and improved business climates are the goals of the Business Retention and Expansion (BR&E) program. The program establishes dialogue and begins a cooperative effort between citizens, community leaders, and local businesses. Using a structured business survey, the community identifies issues, concerns, barriers to survival and growth, and opportunities for action. This approach is community based and focuses on existing businesses. Why? Research shows that 40 to 80 percent of all new jobs are created by existing firms rather than through the attraction of new businesses to the community.
The programs objectives include:
- Relationship building and demonstrated support for industry and community initiatives
- Identifying and addressing immediate business issues and concerns
- Retaining jobs in danger from closure or relocation
- A business friendly environment for future recruitment and expansion
- A resilient and viable economy
Logan County, W.Va., officials followed the procedures recommended by the BR&E program when they got early warning of a potential plant closure. They were able to save the 50 existing jobs and create an additional 25 jobs.
Taylor County, W.Va., had a similar experience. Community leaders there saved 100 manufacturing jobs and created an additional 30. Taylor County also initiated a business and education partnership, which resulted in raises for employees successfully completing a training program.
To learn more about the Business Retention & Expansion program, contact Daniel Eades.