Beyond the Survey: How EDOs Add Value through Business Retention and Expansion
Author: Anderson, Louise; Knight, Lynn; Parkins, Mishka

Business retention and expansion (BRE) is a core practice of economic development, but its execution has evolved considerably in recent years. Reliance on surveying and periodic outreach continues, but where changes are most being seen is in a variety of new value-added models to address business needs. To understand what BRE looks like today, IEDC's in-house think tank, the Economic Development Research Partners, conducted a survey to determine how economic developers are delivering growth-enabling services to local businesses and demonstrating value to stakeholders. The paper presents the results of the survey, modern best practices, how EDOs are measuring the value of the programs, case studies of impactful programs, and recommendations for how to make the most of expansion and retention achievements.

 

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