Business Retention Expansion XRay Why is BRE Important

Business Retention & Expansion X-Ray

Why is BRE Important? Keeps businesses from relocating Helps businesses survive economic difficulties Assists businesses with expansions that add new jobs Increases a business’s competitiveness in the wider marketplace Builds a relationship – shows care and appreciation © 2016 IMPACT DATASOURCE 2

Why is BRE Important? 70% of all business comes from repeat clients 15% comes from referrals 15% comes from new business development © 2016 IMPACT DATASOURCE 3

Pulse of the Economy BRE programs enable the community to maintain an up-to-date picture of the local economy by obtaining data on ◦ The competitive strengths and weaknesses of the local area as a business location ◦ The relative strength of the local economy (number of business expansions, new investments, etc. ) ◦ Areas of interest and concern that can be used to formulate public policy, enhance development efforts, or improve the local business climate (workforce availability, regulatory issues, access to capital) © 2016 IMPACT DATASOURCE 4

The Value of a BRE Project Common and confusing issue How does an EDO communicate the value of a BRE Project? ◦ ◦ ◦ The expansion impact? The current impact? All of it? BRE X-Ray can help provide context and convey the value of the BRE project © 2016 IMPACT DATASOURCE 5

Project Java Medical device manufacturer Considering the addition of 2 manufacturing lines Current and future employees earn $55 k / year average Current Expansion Total 135 500 635 Building $4. 5 M $25. 0 M $29. 5 M FF&E $2. 0 M $13. 0 M $15. 0 M Jobs © 2016 IMPACT DATASOURCE 6