There are three (3) elements to a successful economic development program. Such a program begins by helping retain existing local businesses and helping them grow. The next step is to create a marketing plan to attract new businesses. The third step is to support the creation and development of new businesses.
- A Business Retention and Expansion Program
A BRE program is designed to support existing businesses by determining their current state and then to assist in their growth and expansion. Properly designed and executed, this can be the easiest source of new jobs in a community. - Business Attraction Program
Attracting new businesses into a community is always big news. However, developing sources of prospects, packaging a proposal, and negotiating requires a planned and sustained effort as well as monitoring and reporting. - Entrepreneurial Development Program
Starting a new business venture is never easy. Many feasible ideas never become reality because the entrepreneur lacks all of the skills and concepts to move from idea stage to production. They need assistance with feasibility, financial projections, business planning, legal structure, etc.