Brookings Depends on Local Business Retention and Expansion
6 Feb 2024
The best economic development strategy for any community centers on meaningful relationships and connections to foster consistent growth and success. In Brookings, SD, the Business Retention & Expansion (BR&E) Program of the Brookings Economic Development Corporation (BEDC) aims to promote business success and a healthy business climate in the community and county.
Throughout 2024, the BEDC has several aspects of the program, from in-person business visits, engagement in events like roundtables and industry clusters, and data collection through the Brookings Annual Business Survey. Comprehensively, the BR&E program will gather that information to help drive business development initiatives, resources, and growth.
What is BR&E?
Business Retention and Expansion (BR&E) is an economic development strategy of connecting with existing businesses within a community to understand their needs and determine actions to promote their success, thereby facilitating the community’s success. It is a dedication by an economic development entity to strengthen the connection between the community it represents and the businesses existing within while reducing hurdles to paths for growth. BEDC is prepared to dedicate its time to connecting with local businesses and listening to its areas of concern and sources of success.
What is the Brookings BR&E Program?
Surveys and business site visits are the primary data collection methods to formulate the current business environment.
The Brookings Annual Business Survey will run through the end of April so the BEDC can present its findings at the Brookings Economic Summit in May. The information and insights gained through the survey will be used to develop initiatives and provide resources relevant to industries and business size. All survey information collected will remain confidential and results will be shared broadly to maintain anonymity. Complete the survey here before the end of April.
Additionally, BEDC staff plan to make business visits throughout 2024. These in-person conversations with key community leaders will allow the BEDC team to hear the specific concerns of each business. The insight gained from these conversations will be used to develop strategies and share resources particular to the business/industry to determine climate-wide trends for larger initiatives and projects. Request a business visit today!
Why is BR&E important to Brookings?
Fostering a healthy business climate benefits local business owners and the entire community. A thriving economy has benefits that range from quality of life to access to goods. The Brookings Economic Development Corporation can gain crucial information through the BR&E program that allows the organization to work with the Brookings Economic Ecosystem partners to remove barriers, provide access to business resources, and understand the business climate to allow for growth and prosperity.
Connections & Relationships
A focused BR&E program will improve the business operating environment of a community by ensuring healthy competition, providing quality employment opportunities and stabilizing local economic development. That dedication will, in turn, allow businesses to stay, thrive and demonstrate their commitment to the community. Multi-directional engagement amplifies the ability of economic development entities and local businesses to assess opportunities and understand available resources to address future issues that may impact their economies.
The Brookings EDC is committed to business retention and expansion by providing assistance and consultation through its professional staff to help businesses and communities achieve their development goals. For BR&E questions, contact BEDC Business Development Specialist Matty Kerr or BEDC VP of Economic Development & Operations Stephanie Mason. Contact us through this for general questions.