NAME OF COMMUNITYORGANIZATION Business Retention

1
NAME OF COMMUNITY/ORGANIZATION Business Retention
Expansion Program

• Your name, title
• Date

2
Agenda

• Overview of BRE
• COMMUNITY/ORGANIZATION BRE Program Proposal
• Action Items
• Discuss role of Task Force members
• Review survey instrument
• Identify action items and next steps

3
What is BRE?

• BRE is an on-going economic development program
  that focuses on keeping and growing the existing
  businesses in a community

4
Why BRE?

• Existing business are important because
• They are the best source of information on the
  strengths weaknesses of the local economy
• A healthy climate for existing business in turn
  attracts new business, helps main street
  revitalization, and creates an entrepreneurial
  culture
• They create most of the new jobs in your community

5
Changes in Jobs, Minnesota 1st Quarter, 2006

• New jobs from expansions of existing firms are
  over 3x jobs from start-ups
• The State gained .6 of jobs in this period
• Source U.S. Dept. of Labor, 8/2007

Private sector gross job gains and losses, as a
percent of employment from the previous quarter,
seasonally adjusted
6
Why BRE?

• Much of the new tax base and facilities
  investment is made by existing business
• To revitalize your retail sector
• To monitor and retain your professional services
  businesses, headquarters other office locations

7
How Do You Conduct a BRE Program?

• Phase One
• Set achievable, manageable, measurable objectives
• Collect data
• Identify trends actionable items
• Respond to Warning Flags
• Phase Two
• Take action
• Address issues
• Match business needs with existing or new
  programs
• Improve services
• Phase Three
• Assess program
• On-going
• Communicate, communicate, communicate

8
NAME OF COMMUNITY/ORGANIZATION BRE Program
Objectives

• Demonstrate that the community appreciates the
  local businesses and their contributions to the
  economy.
• Help businesses resolve local business issues.
• Increase/retain jobs in the community

9
NAME OF COMMUNITY/ORGANIZATION BRE Program
Objectives

• To increase the competitiveness of local
  businesses.
• To create a narration of the local economy.
• Build community capacity for economic
  sustainability.

10
BRE Task Force

• Task Force responsibilities
• Administrative
• Participate in Task Force meetings
• Approve program proposal
• Most Critical
• Conduct business visits
• Preserve confidentiality
• Review results
• Identify and implement actionable items
• Evaluate program

11
BRE Coordinators

• Coordinate manage all BRE activities
• Establish BRE procedures policy
• Draft local BRE goals
• Develop survey instrument
• Manage administration of survey
• Conduct business visits
• Collect, tabulate, analyze data
• Translate data into actionable items
• House manage database
• Conduct Warning Flag follow-up
• Coordinate community communications

12
Target Businesses Focus Areas

• Proposed Target Businesses
• Sector (e.g. industrial, retail, cross sector)
• Approx. XX businesses in COMMUNITY
• Proposed Focus Areas (survey instrument)
• Perceptions of local business environment
• Employment training
• Business Investment Forecast (BIF)
• Future plans
• Business profile

13
Data Collection

• Primary Data
• Online survey
• Website link e-mailed or mailed to business list
• Target response rate 30 50
• Business visits
• In response to requests
• Select list prepared by Task Force
• Secondary data
• Publicly available sources
• Local knowledge
• Coordinators and Task Force

14
Communications PlanPhase One

• Internal Audiences
• Coordinators
• Task Force
• University of Minnesota Extension
• External Audiences
• Local businesses
• Primary stakeholders

15
Communications PlanPhase One

• Internal Communications
• E-mail updates
• Scheduled meetings
• Preliminary and working reports
• External Communications
• Program publicity
• Press release to newspapers, newsletters,
  announcements at meetings, word-of-mouth
• E-mailed and mailed correspondence with
  businesses
• Survey link letter, reminder cards, thank you
  letters

16
Proposed Phase I Timeline Next Steps
Major Milestones
Target Dates
Finalize survey instrument Business list
Week of
Announce program/ E-mail link mail surveys
Week of
Business Visit Planning Meeting
Week of
Conduct business visits
Week of
Review responses for Warning Flags --Identify
actionable items
On-going
Task Force Meeting Review results
Week of