 |
|
|
|
BR&E
Measurable Results
In the long term, the business retention and expansion initiative
can make local business more competitive by evaluating and addressing
their broader needs and concerns. Businesses that stay competitive
are more likely to remain in the community and possibly expand. The
program establishes an economic development plan for the local community.
The process creates a broad based community coalition to sustain
long-term economic development efforts.
Examples of potential BR&E project results are:
- Businesses and jobs retained
- Business expansions, new jobs created, and increased tax assessment
- New export contracts for business
- Import replacement opportunities implemented
- Improved communication with business community
- Pro-business attitude established in the community
- Improvements in municipal approval procedures
- Downtown revitalization projects implemented
- Increased community capacity for economic development
- Strategic economic development plans developed
- Succession planning and venture capital sourcing
- Work force recruitment strategy
- Promotion of local businesses
- Marketing community amenities
- Educational opportunities for local business
- Tourism events with a community theme
Factors the determine the success of a BR&E programme include:
- Community and organizational readiness for economic development
- Local champions to support the implementation of economic development
initiatives
- Immediate follow up to identified urgent issues
- Maintaining community momentum for project completion
- Commitment to economic development
- Strong community and business leadership
- Ability to analyze the survey data and develop recommendations
- Ability to undertake community projects in a cooperative manner
- Dedicated volunteer base
- Business resource network
- Project coordinator dedicated to the project
- Budget for the project
- Ability to coordinate and facilitate the entire process.
|
|
|
|
|
