Business Retention and Expansion

Programs that encourage capital investment and employment in communities and increase overall economic vitality by focusing on the retention and growth of existing businesses. Business retention and expansion programs monitor the health and expectations of existing businesses, take steps to understand the problems that adversely impact their growth and provide the support that is required to enable these businesses to expand and prosper. Specific strategies may include low-interest loans for land purchase, building refurbishment or new equipment acquisition; bond programs to help lower the cost of borrowing for businesses; use of zoning to encourage desirable business expansion and retention; workforce development programs; tax credits; one-stop permitting centers which allow businesses to begin or expand operations quickly; and a wide variety of other incentives relating to finances, taxes, real estate, workforce issues, regulations and technology.