Business retention and expansion (BRE) has been identified as a regional priority through consultations with key economic development stakeholders, local businesses, and the State of Alaska
What is Business Retention & Expansion?
Business Retention & Expansion programs (BRE) help to build a positive business environment for the success of local businesses, and ultimately the success of the community. This is accomplished by taking the pulse of the businesses in the community, determining if there are any problems or issues, and then taking positive action to improve the health of individual businesses and the overall business climate of the community.
The goals of BRE are to:
• Accurately assess the needs of businesses;
• Provide assistance to business that will help them to survive economic difficulties and assist them with expansions that add new jobs; and
• Build cooperation and consensus among local government, economic development organizations and businesses and support collective action focused on improving the local and regional business climate.
Business development and job creation are key factors in developing healthy and vibrant communities. Depending on the characteristics of a community’s economy, anywhere from 40 to 90 per cent of new jobs come from existing businesses. BRE is an action-oriented and community-based approach to business and economic development. It promotes job growth by helping communities learn about issues and concerns of, as well as opportunities for, local businesses and sets priorities for projects to address these needs. Promote business development and job creation.