Business Retention & Expansion Program

PURDUE UNIVERSITY EXTENSION COMMUNITY DEVELOPMENT PROGRAM

BUSINESS RETENTION &EXPANSION PROGRAM

PURDUE UNIVERSITY’s

ATTRIBUTIONTHE OHIO STATE UNIVERSITY

This curriculum is an adaptation of The Ohio State University Business Retention and Expansion Program. Copyright© 2016 Purdue University. All rights reserved. Any duplication other than that indicated is prohibited. No part of this document may be reproduced, adapted, or translated in any form or by any electronic means without permission in writing from Dr. Lionel J. Beaulieu, Program Leader, Purdue Extension Community Development Program and Director of Purdue Center for Regional Development. Send copyright permission requests to him at: Purdue Center for Regional Development, 203 S. Martin Jischke Dr., Suite 266 Mann Hall, West Lafayette, IN 47907-1917.

Email requests to: [email protected].

BUSINESS RETENTION & EXPANSION PROGRAMPURDUE UNIVERSITY EXTENSION COMMUNITY DEVELOPMENT PROGRAM


ABOUT BUSINESS RETENTION AND

EXPANSION


PROGRAM ORIGIN & HISTORYABOUT BR&E AND ITS HISTORY


Surveys show that existing businesses create as many as 80 percent of all new jobs in a community. When established businesses stagnate, fail, downsize, or relocate elsewhere, communities may also experience negative ripple effects that include a cascade of other business failures, utility rate hikes, and strains on social services, schools, and families. Conversely, research shows that a thriving local economy makes that community attractive to new business ventures considering setting up shop there. It makes sense to pay close attention to keeping those businesses in town and encouraging them to expand locally. That’s why Cooperative Extension pioneered what’s called the Business Retention and Expansion (BR&E) model of community economic development in the mid-1980s.

WHY IS BR&E IMPORTANT?


Existing businesses and the local workforce are key “barometers” of a community’s economic health (as a place to live, work and play). Research shows that small businesses are major drivers of job growth. BR&E is intended to help focus the energies of community stakeholders on the economic assets that already exist in their cities, counties and regions, making them stronger and more resilient over time.

GOALS OF BR&E


Assist Indiana communities in analyzing their local economies.

Utilize this data/information as a basis for identifying, designing and implementing strategies that can help strengthen existing businesses and industries.

Shepherd the community’s process of implementing its first BR&E program by providing a BR&E coach/mentor to come alongside the community resources, moving the effort forward to completion and equipping the person (or entity) who emerges as the local BR&E coordinator.

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5 MODULES OF THE BR&E PROCESS


The taskforce, including diverse community stakeholders, will discuss

which industries or businesses should be targeted and work on developing the

questions to ask them.

MODULE 1:ORGANIZE THE TASK FORCE


MODULE 2:GAIN SUPPORT

Each taskforce member will invite another community stakeholder to help

determine community readiness. Information about the BR&E program will

be shared through a variety of media outlets selected by the taskforce.


MODULE 3:GATHER DATA

Surveys will be sent out to each of the selected businesses/industries. Once all

surveys are returned, individual taskforce members will be assigned, according to the companies’ preference. Visits will be conducted by the BR&E coordinator and

the preferred taskforce member.


MODULE 4:ANAYLZE DATA

Both quantitative data (from the online surveys) and qualitative data (from the

site visits) will be analyzed. Action items collected from the surveys and during

site visit interviews will be addressed by the taskforce.


MODULE 5:REPORT RESULTS

A brief report will be written, identifying areas of strength, as well as specific areas

of concern, revealed during the study. Results will be shared with the general

public in a community forum.

WHY CONDUCT BR & E?

• Assisting businesses by identifying and responding to their immediate issues and concerns through an assessment/referral process and targeted technical assistance

• Identifying and responding to businesses that may be planning to close, sell, move, or expand

• Identifying and implementing improvements to community-level services and support for local businesses

• Collecting business/market data as part of a broader planning process


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BR&E PROGRAM PURPOSE

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CONTINUED DISCUSSION …

• Fostering and enhancing the environment for business growth and development

• Collecting and analyzing existing business and workforce data to develop a better understanding of the local economy, as well as its role in the regional and state economy

• Surveying and connecting with local residents to cultivate an understanding of the local economy and buy-in for community support for local businesses


BR&E PROGRAM PURPOSE cont.

TASK FORCE MODULE 1 // Overview of Program Action Item: Community readiness assessment

BR&E: HOW IT WORKS


TASK FORCE MODULE 2 // Strategy for Implementation Action Item: Review and selection of questions

TASK FORCE MODULE 3 // Survey and Interview Action Item: Conducting the interviews

TASK FORCE MODULE 4 // Discussion of Results Action Item: Write up a formal result

TASK FORCE MODULE 5 // Final Results Action Item: Communication of results to community

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BUSINESS RETENTION &EXPANSION PROGRAM

PURDUE UNIVERSITY’s

For more Information Contact BR&E Committee

Members:

Bo Beaulieu: [email protected] Melinda Grismer:

[email protected] Tanya Hall: [email protected]

Heather Strohm: [email protected]

mailto:[email protected]


