Retention & Expansion Program

“Existing businesses play a vital role in economic development. Studies show that upwards of 80% of new jobs created in rural areas comes from existing businesses.”

 

The Fostoria Economic Development Corporation offers a comprehensive Business Retention & Expansion (BR&E) program that is designed to connect local businesses with resources that help to plan and implement growth. Through company visits and conversations, the BR&E program is able to identify areas where local, state, and federal resources may be available to assist local firms in their profitable growth.

 

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Information is Key

Our BR&E Program is designed primarily to assist local businesses,
but also serve multiple purposes aiming to enhance the competitiveness of conducting business in the local area.

The BR&E Program serves to:

  • Enable community leaders to define the strengths and weaknesses of the local economy as identified by existing businesses and workers.
  • Use Feedback data to develop, prioritize, and implement actionable items and policy that best address local business needs.
  • Develop a narrative of the local economy
  • Create direct lines of communication between policy makers and local industry

We, at the Fostoria Economic Development Corporation, are working in partnership with the Ohio Small Business Center, Terra State Community College, Ohio Means Jobs – Seneca County, Seneca Industrial & Economic Development Corporation (SIEDC), and the area Chambers of Commerce to reach 1,000 companies in Seneca County each year. We have monthly meetings and are utilizing metric systems to maintain, analyze, and share information.