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Business Retention and Expansion (BRE) – Why is it important
According to an analysis by the Small Business Administration’s Office of Advocacy, at least 60% of private sector net new jobs are created by existing establishments. This primary employer growth drives our local economies through increased employment and capital investment, resulting in increased spending in our communities. ACED recognizes this critical dynamic and strives to support the overall business climate, ensuring the vitality and competitive advantage of Adams County’s existing industries.
By increasing local industry competitiveness and profitability, and by decreasing the frequency of downsizing, layoffs, outsourcing and business closure, ACED and the BRE Taskforce play a key role in our local economic health. Through their unabated commitment to existing primary employers, ACED’s business retention and expansion efforts maximize the community’s investment into economic development initiatives; thereby, creating more jobs and better quality of life for Adams County citizens.
Source: Small Business Administration Office of Advocacy, May, 2012.
Featured Business Story: Direct Lumber and Door of Colorado
Direct Lumber and Door of Colorado is a privately owned and operated manufacturer and distributor lumber and wood products. Incorporated in 2000, the company has built a strong presence in Colorado, utilizing a management staff with over 100 years of experience. The company began doing business in unincorporated Adams County in 2012 after it acquired suitable property for its manufacturing and distribution needs. Primarily, Adams County’s transportation infrastructure, including access to rail and highways, made the community ideal for the company’s growth vision.
Unfortunately, the area’s fiber optic and high speed internet infrastructure was insufficient to support Direct Lumber and Door’s information technology needs, which it relies on to remain competitive. ACED’s Business Retention Taskforce learned of this challenge when meeting with President Tom Kostelecky, and ACED was able to partner with Comcast to begin conversations regarding the viability of fiber optic construction to the company’s Adams County facility. In August of 2013, Comcast completed construction of high speed internet and phone lines to Direct Lumber and Door, which will ensure reliable and efficient communication and bolster the company’s competitive advantage, as well as make connectivity for surrounding businesses more economical. This outcome, in addition to other resources such as Enterprise Zone tax credits, has made Adams County a great place for Direct Lumber and Door to do business.