Economic Development Terms:

•       Business Retention: The process of encouraging businesses to stay and grow within a community where they are valued contributors to the local economy.

•       LSCP Retention Visit

•       A face-to-face meeting with an existing company.

•       A “check-up” of the overall health of the enterprise.

•       An opportunity to say thanks for their economic contribution to the region.

•       Topics:  Facilities, workforce, markets, products, challenges, opportunities, financing, regulation and technology.

•       Outcomes:  Assistance on a topic of concern and/or identification of resources to facilitate an opportunity.

•       Jobs:  Existing jobs at the business are counted as “Retained” and any potential job development is counted as “New.”

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