Business Briefs

Wake Forest launches business retention program

Posted March 27, 2009 11:01 a.m. EDT

— Wake Forest Economic Development launched a Business Retention and Expansion program this week to reach out to the local business base during the recession.

“We want to reach out to our existing businesses to make sure they continue to grow and flourish in Wake Forest, and that they have the resources necessary to do so,” Mayor Vivian Jones said in a statement. “We want our existing businesses to know that we appreciate having them in Wake Forest, and we want them to know who to contact when they have a need or concern.”

Officials said they plan to visit local businesses and consult with an array of community partners in economic and work force development, government, education and industry.

Executive Director of the Wake Forest Area Chamber of Commerce Jodi Ann LaFreniere said businesses that stay competitive are more likely to remain in the community and possibly expand. A healthy local economy depends on the well-being of existing firms, she said, and efforts aimed at helping local businesses survive and grow in the local community are key to successful economic development.

“Forty to eighty percent of all new jobs are created by existing companies, and therefore it makes sense to have a strong and strategic focus on our existing business base,” LaFreniere said in a statement. “The odds are better of attracting new firms if existing ones are happy with the community and feel their needs are being met.”

The free program serves to listen to companies’ needs and identify all of the appropriate resources, including local, state and private entities, that can benefit businesses and enable them to thrive in today’s economy.