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.