New Business Retention and Expansion

The Goal

Support the recovery and growth of businesses through a comprehensive approach that includes targeted outreach, resources to assist businesses coming for help, and focused strategies around site selection and Job Hub growth to ensure optimal opportunity.

New Business Retention and Expansion

The Goal

Support the recovery and growth of businesses through a comprehensive approach that includes targeted outreach, resources to assist businesses coming for help, and focused strategies around site selection and Job Hub growth to ensure optimal opportunity.

New Business Retention and Expansion

The Goal

Support the recovery and growth of businesses through a comprehensive approach that includes targeted outreach, resources to assist businesses coming for help, and focused strategies around site selection and Job Hub growth to ensure optimal opportunity.

Why this strategy?

Existing local scale up (10 to 30 employees) and middle market ($10 million to $100 million in revenue or 30 to 300 employees) firms represent the bulk of new job growth in a given region and the space where economic development organizations have the greatest potential for impact.

  • Chevron-Blue-R

    Business relocations are down 50% nationwide

  • Chevron-Green-R

    Business relocations and expansions are only responsible for 14% of state job creation

  • Chevron-Blue-R

    Nationwide from 2009 to 2014, just 1% of all middle-market firms accounted for 72% of net job creation

Why this strategy?

Existing local scale up (10 to 30 employees) and middle market ($10 million to $100 million in revenue or 30 to 300 employees) firms represent the bulk of new job growth in a given region and the space where economic development organizations have the greatest potential for impact.

  • Chevron-Blue-R

    Business relocations are down 50% nationwide

  • Chevron-Green-R

    Business relocations and expansions are only responsible for 14% of state job creation

  • Chevron-Blue-R

    Nationwide from 2009 to 2014, just 1% of all middle-market firms accounted for 72% of net job creation

How We're Driving This Work

At the onset of this plan, we realized that one of the biggest shifts we needed to make was how we were interacting with and assisting companies related to our business retention and expansion (BRE) efforts. Given the local and national decline in business attraction efforts and relocations, the focus shifted to a concentrated effort on growing companies that already call the region home. Moving forward, the economic development partners work collaboratively to ensure the companies already here, working and growing in Akron, have the resources they need to be able to grow and prosper here in our region.

1178 - Consultation
Best Practice Dialogues

COVID-19 created unprecedented times for business owners. To provide guidance in doing business in these unique circumstances, the Greater Akron Chamber is hosting facilitated dialogues among business owners/professionals to share best practices and other insights relative to recovery, compliance, strategy, and general approaches to doing business.

1178 - Consultation
Best Practice Dialogues

COVID-19 created unprecedented times for business owners. To provide guidance in doing business in these unique circumstances, the Greater Akron Chamber is hosting facilitated dialogues among business owners/professionals to share best practices and other insights relative to recovery, compliance, strategy, and general approaches to doing business.

How can this work benefit you?

Elevate Greater Akron works to create opportunities throughout our regional ecosystem that benefit individuals and businesses alike.

How can this work benefit you?

Elevate Greater Akron works to create opportunities throughout our regional ecosystem that benefit individuals and businesses alike.

Are you a company looking for assistance getting connected to resources?

BRE Visitation

Schedule a meeting with one of our business resource experts who can help you address issues and easily navigate resources available for assistance.

Learn More Here

COVID-19 Resources

Learn about COVID-19 resources for businesses and employees.

Learn More Here

Are you a minority owned company seeking advanced opportunities?

MCAAP

Learn about how this program can provide financial and technical assistance to Akron and Summit County-based minority, women, LGBTQ+, Veteran, and Disabled-owned contracting businesses.

Learn More Here