Knowledge Network Series II

If there was one lesson that came out of the pandemic, the power of collaboration and connectivity has led to incredible advancements in today’s economy. EDCC continues its tradition of fostering a network of economic development professionals in this 2-part series, that will strengthen the performance of Economic Development Organizations (EDO), cultivate industry connections, and promote the industry and profession that will contribute to a robust constellation of EDO’s across Colorado.

Objectives:

• Cultivate high-performing Economic Development Organizations.
• Strengthen Colorado’s constellation of Economic Development Organizations across the state.
• Build a professional development network that nurturer’s well-educated and engaged professionals.

Business Retention, Expansion, and Attraction

Were you aware that approximately 80 percent of new jobs and capital investment originate from existing companies within your community? The primary objectives of business retention involve offering support for issues that could jeopardize a company’s survival or lead to closure, as well as discouraging companies from relocating to different communities. Conversely, the central aim of business expansion is to facilitate the growth of businesses.

A thriving Business Retention, Expansion, and Attraction (BRE) program not only addresses the challenges that existing businesses face but also serves as a valuable source of data and intelligence. This information is instrumental in strategically attracting new companies to the community and nurturing the establishment of new businesses. In essence, a successful BRE program acts as a catalyst for both the preservation and expansion of the local business landscape.

Moderator: Adam Krueger, Economic Development Director, City of Thornton

Panelists:

• Rural Example – Troy McCue, Executive Director, Lincoln County EDC
• Metro Example – Adam Krueger, Economic Development Director, City of Thornton
• Industry Example – Drew Kramer, Economic Development Program Manager, Tri-State Generation and Transmission Assoc.
• State Example – Dana Bakshani, Global Business Development Specialist, Colorado Office of Economic Development & International Trade (OEDIT)