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<br /> <br /> <br /> <br /> <br />A COMMUNITY APPROACH TO ENCOURAGE LOCAL BUSINESS SUCCESS <br />Community Leaders’ Business Retention and <br />Expansion Program (BR&E) <br /> <br />WHY BUSINESS RETENTION AND EXPANSION? <br />A healthy and vibrant local economy depends on the well-being of a community’s existing <br />businesses. Thus, efforts to help local businesses survive and grow in the local community are key <br />to successful economic development. The community benefits because: <br />• Researchers estimate that existing businesses create 86 to 31 percent of all new jobs.* <br />• Businesses that stay competitive are more likely to remain in the community – and possibly <br />expand. <br />• Keeping an existing business is often easier and less costly than recruiting a new business. <br />• Businesses considering coming to the community will talk to existing businesses. Odds <br />for attracting new businesses are better if existing ones are happy with the community. <br /> <br />WHAT ARE THE BENEFITS OF THE COMMUNITY LEADERS’ APPROACH? <br />Economic development efforts often require action <br />from many community players. Without community <br />consensus, economic development stalls. Our <br />program (established 1990) is a proven approach for <br />involving the community and building consensus to <br />move forward. University of Minnesota Extension <br />provides facilitation, technical assistance, training, <br />and applied research to help communities assess <br />business concerns, understand the structure of the <br />local economy, set priorities, and implement projects <br />that will help make communities more vibrant. We <br />recommend the complete BR&E Strategies Program package for Minnesota communities. It is <br />described below on pages 2-4. We also have materials, tools and applied research services <br />available (listed on pages 4-5). We once again offer a BR&E course with the next class starting <br />January 2014. The course is a convenient "blended" format that combines in-person with online <br />learning. Participants gain the skills needed to lead a Community Leaders’ BR&E program. See the <br />BR&E Course section on the website for more information. <br />