Why Business Retention?
- Competition to attract new business is so intense that consistent, positive results are rare. It just makes good sense to protect the regions' business assets. In typical marketing of a business, it is about 8 to 10 times more costly to try to attract a new customer than to take good care of an existing customer. The same holds true for economic development.
- Emphasizes the value of the business to the community. Local businesses account for 80% - 90% of new jobs created.
- Educates the business community of resources and assistance to help them prosper and grow.
- Accountability
- Satisfied existing businesses are a draw, a magnet, to those looking to relocate
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