Laserfiche WebLink
2. BUSINESS RETENTION & EXPANSION ACTIVITIES: <br />Retention & Expansion — Businesses retention and expansion (BRE) Is a core program of any <br />economic development pian. These programs are designed to 1) retain or keep existing <br />businesses in the commun1W, and 2) provide assistance for businesses to expand. Retention and <br />expansion programs can be implemented at the local, regional and state levels In a variety of <br />ways. Some programs might focus on central business districts In downtown areas or on the <br />commercial and industrial areas where many small and medium-sized firms comprise a large <br />portion of the employment base. Other may focus on allocating resources to support specific <br />industry or channeling resources to support economic diversification strategies. <br />Performance <br />Performance <br />Measure <br />Manure <br />Targets <br />Targets <br />FY22 <br />FY23 <br />• Number of outreach interactions initiated with existing businesses <br />such as phone calls; site visits, or surveys <br />—Provide a target for FY22 and FY23 <br />50 <br />55 <br />• Number of follow-up interactions initiated with existing businesses <br />50 <br />55 <br />—Provide a target for FY22 and FY23 <br />3. BUSINESS ASSISTANCE <br />Business Assistance (Including start-ups) Small and emerging businesses generate wealth <br />and provide significant source of employment in today's high technology global economy. They <br />stimulate job creations, develop crucial innovations in both products and services, and diversify the <br />economic base. It is critical that communities' economic development strategies dedicate <br />resources to developing and promoting new business start-ups and establishing effective support <br />systems so these new businesses can grow successfully. A community that meets the needs of <br />its entrepreneurs Increases its chances of job growth within small businesses, and those gains <br />translate Into a more vibrant community. <br />Performance <br />Performance <br />Measure Targets <br />Measure Targets <br />FY22 <br />FY23 <br />• Number of businesses requesting assistance <br />—Provide a target for FY22 and FY23 <br />30 <br />30 <br />• Number of follow-up interactions with businesses <br />5 <br />5 <br />—Provide a target for FY22 and FY23 <br />