What is Business Retention & Expansion?
A Business Retention and Expansion (BRE) program is designed to strengthen a community's ability to attract, grow and keep businesses, and has been internationally recognized as a highly
effective tool for economic development.
BRE practioners connect local businesses to the resources and services they need to be even more competitive, both at home, across the country, and internationally. Through in-depth consultation and intelligence gathering, they measure, evaluate and develop strategies to address the needs of business. BRE
can help a business identify and overcome the barriers to growth, and
provide a tailored solution to connect clients with the resources and
services they need to succeed.
Why do BRE?
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| 10 | Mutual awareness, business and government. |
| 9 | Identify concerns and opportunities. |
| 8 | Refine policies to improve the business climate. |
| 7 | Prevent overlap and duplication. |
| 6 | Cost-effective business development: in the U.S., cost per new job of BRE typically ranges from a couple hundred to $3,000 per job, vs. $300,00 to $1 million for a new inward investment. |
| 5 | Increase in incomes, employment and opportunities. |
| 4 | 90% of closures arise from mergers and acquisitions, consolidations, restructuring, and planned relocations - all of which can be addressed through BRE. |
| 3 | Up to 80% of new jobs come from existing companies. |
| 2 | Shows businesses that they are important. |
| 1 | Other places are doing BRE, and it works! |