Attracting a new company to a community has long been a staple of economic development efforts.  Nothing looks quite as good in the paper as lines of public officials in hard hats holding shovels or bright red ribbons being cut by ridiculously large scissors.  When a new firm chooses your town, it’s big news.  Their decision to locate in your community validates your efforts and affirms your community’s strengths.  But what happens 3, 5 or 10 years down the road?  Those companies still need the community’s support and assistance.  That is why a great economic development program must include a retention and expansion component.

The official statistic varies, but the best estimate is that 70 – 80% of new jobs come from existing businesses.  Small, medium and large businesses all play a role in a healthy economy and a healthy job market.  By supporting local businesses through a retention program, communities can help companies keep or increase jobs, preserve or increase the tax base, increase local property tax values, enhance the community’s image and maintain or diversify the economic base.  A successful retention program is also a great attraction tool, as companies looking to locate want to know that they will be assisted in the years following an announcement.  Many communities have a business retention program in some form or fashion, and Athens-Clarke Economic Development Department is happy to say that we operate a great program as well.  Our program is three-fold and will be operating in full force by year end.  

Since the department’s inception in 2013, partnerships with existing industries have been paramount.  The first Industry Appreciation Dinner was held in the spring of 2014 and has grown and expanded each year since.  This event exists to recognize our local manufacturers for their contributions to the community through increased employment, continued investment and charitable contributions.  Each year this event brings together business and community leaders to have a thoughtful conversation on the state of industry in our town.  The Manufacturer of the Year is awarded as well as Community Commitment Awards to those companies who have reached a milestone anniversary. It’s a small way of saying a big thanks to the men and women who continue to support and grow our local economy.

In January of this year, the Economic Development Department rolled out the second phase of their Business Retention + Expansion effort through the One-to-One Resource Pairing program.  Representatives from our local and state departments of economic development visit face-to-face with the management team of employers across the county to discuss any opportunities or challenges they are facing in the coming year and connect them to programs and resources to assist in those efforts.  We recognize that our employers are in the business of doing business and that our existing industry team should make their jobs a little easier by being on hand to navigate the programs and services in our community and our state.  So far the existing industry team has visited 8 companies and several University research centers to gather information, assess community strengths and offer assistance on programs, available incentives, expansion efforts and workforce development.  

The third component of the Business Retention + Expansion program will address issues facing all businesses, large and small, in specific geographic areas around town.  Our Business Walks program is modeled after other successful programs in Ohio and Wisconsin and will bring together staff and elected officials to survey businesses and garner valuable feedback on the state of business in micro-regions across the county.  The first Business Walk will take place on portions of Lexington Road later this year.

As in any relationship, it’s important to keep the lines of communication open.  We hope that our efforts to engage with our local employers through our Business Retention + Expansion program will encourage more growth and more opportunity for the folks that call Athens home.

If you have any questions about the Business Retention and Expansion program through ACC Economic Development, please reach out to Amy Lopp at [email protected] for more information.