EDABC Professional Development Series - Business Retention and Expansion Programs

This research report was prepared by Lions Gate Consulting Inc. on behalf of the Economic Development Association of BC in March, 2006. The Request for Proposal asked for the following study outcomes:

  • Discussion of the early warning signs of challenges emerging in a local economy among the business community and how this can be determined or assessed locally.
  • Briefly overview the different business retention and expansion initiatives utilized by economic development offices in BC. Highlight any unique or innovative approaches that are used elsewhere by economic development offices in supporting local business retention and expansion. Be sure to incorporate best practices, scope of the program and the resources, resource sources, and partnerships required to successfully operate the initiative.
  • Outline the approach, resources, linkages required to prepare a successful business retention and expansion program in a smaller and a larger economic development organization in British Columbia. This component will provide a high-level action plan for an economic development commission and the key partnerships that would be required for formalizing such an initiative. 

A literature review and interviews with business retention and expansion offices in the province were the primary research tools for this report.

Full article below.