Business Retention & Expansion

Home-Grown Stimulus Plans: How Communities Are Responding to the Recession

Rather than wait for federal stimulus dollars to start flowing, many communities are implementing their own recovery strategies to keep the local economy above water. Their approaches are wide-ranging, from re-energized business retention efforts and slashed development fees to increased marketing, new revolving loan funds and "buy local" campaigns.

RED FLAGS

• Ownership problems
• Disinvestment
• Changing markets
• Duplicate capacity
• Community relations
• Management instability
• Research and development
• Business climate
• Changes in land use
• Equipment changes
• Cosmetic appearance

Understanding economic impact quickly and inexpensively can make your job much easier. Whether you work for an economic development agency, a governmental agency or a public utility, it is critical to have the answer:

Now, more than ever, it is important for economic developers in California to focus on keeping the businesses we have and helping them grow. With the negative perceptions about doing business in California and our business climate, attracting new business is not always the easiest form of economic development. And, as we've all heard before, "A bird in the hand, is better than two in the bush".