Retaining and expanding existing businesses is a cost-effective and time-efficient economic development strategy. Commonly referred to as Business Retention and Expansion (BRE for short), it is a practical way to to build relationships, identify opportunities for growth, and address any challenges that industry may be facing.
Establishing a practice of ongoing outreach and dialogue with local industry is recommended in order to catch any critical issues that could cause industry to leave the community or alternatively, inhibit expansion and incoming investment opportunities.
Please see the attached April brief to learn more