Enticing Businesses to Stay

13 May 2019

Agralite Arrowhead BENCO Brown Connexus Light and Power Crow Wing Dakota East Central Federated Goodhue Itasca Kandiyohi Lake Country Lake Region McLeod Meeker Mille Lacs Minnesota Valley Nobles North Itasca Redwood Runestone South Central Stearns Electric Steele Todd Wright Hennepin

Trying to attract businesses from outside the community or launching startup businesses are key economic development activities. However, economic developers generally agree that the most practical strategy for growth is Business Retention and Expansion, or keeping established businesses in the community. 

Enticing Businesses to Stay, co-authored by Michael Darger, University of Minnesota Extension, and Cameron Macht, DEED, looks at results from DEED’s Business Employment Dynamics dataset and provides insights and examples from ongoing business retention and expansion projects in Barnesville, near Fargo-Moorhead, and Cottage Grove, metro area. 

Click here to view the original article from the Minnesota Department of Employment and Economic Development