Business Retention and Expansion

Business Retention & Expansion (BR&E) is an economic development strategy that focuses on connecting businesses and our community.

So what does it mean?

BR&E Strengthens the social and economic fabric of our community. Through the use of one-on-one meetings with local business leaders and our office, we are able to address individual business issues while providing insight into broader community concerns to aid us in developing a stronger entrepreneurial ecosystem and healthy business environment in LaGrange County. We are proactively connecting with existing businesses in LaGrange County and examining their individual wants, needs and concerns; interpreting that information; and cross examining it with information reported by other local businesses all so we can purposefully work toward resolutions that will encourage retention of their business locally, and business expansions within LaGrange County.

Why is BR&E Important?

BR&E is important to communities because research has shown that existing businesses represent 70% – 80% of new investment and job creation in a community. A strong BR&E program returns investment to the community. BR&E programs are less costly than recruitment programs, decision-makers are local and are partners in economic growth, and a strong BR&E program supports business recruitment through peer-to-peer marketing.

Our existing businesses and our local workforce are our key source of information regarding the county’s economic health and viability. Consistently, research shows that small businesses are the major drivers of job growth. In Indiana, 85 percent of all existing businesses employ less than 100 people. They are the often-overlooked growth machine of the state—and the ones most likely to add new jobs to their portfolio. Our BR&E plan is intended to help focus the energies of community stakeholders on the economic assets that already exist in our local communities, our county, and our region.

Many BR&E Programs focus on large manufacturers and companies. LaGrange County has a very solid manufacturing background, however we aim to visit more than just our largest employers and producers, as we often see locally that many of the smaller businesses turn into much bigger businesses. We would love to meet with you soon.