What does BR&E mean in GENERAL

Business Retention and Expansion (BR&E) is an economic development strategy used to identify and approach local businesses in an effort to help them stay in the community, expand their operations, hire additional staff, and increase investments.

By keeping a business in the local community, BR&E helps to ensure that jobs are maintained or created and taxes are collected, which helps to strengthen the economy. In addition, increased investments from existing businesses can help attract other businesses to the area.

Depending on the situation, BR&E programs may provide assistance for business recruitment and expansion projects; access to capital; workforce training; decreasing regulatory burden; leveraging infrastructure investments; collaboration among public-private partnerships; facilitating permit processes; identifying real estate sites; and providing technical support.

The responsibility for implementing BR&E typically falls on local governments, economic development organizations, chambers of commerce, or industry associations.

Most often there is no cost associated with using a BR&E program — it's free of charge. However it's important to note that some states or municipalities may require businesses seeking assistance through their specific program to pay a fee to cover administrative costs.

The timeline for results from a business retention and expansion program depends on various factors such as the level of commitment by local government entities, the resources available for program implementation and execution, as well as several other variables. Generally speaking it can take anywhere from six months (minimum) up until two years (maximum) before you start seeing tangible results.

To learn more about BR&E programs in your area you should contact your local Chamber of Commerce or Economic Development Office. They will be able to provide you with information pertaining to who manages those types of programs within your community as well as what services they offer potential clients.

A successful business retention and expansion counselor must possess strong communication skills in order to build relationships with local businesses through face-to-face meetings or one-on-one telephone conversations; he/she must also have experience working with economic development strategies, possess an understanding of public policy issues related to small business growth initiatives; be able to analyze data related to job creation/retention efforts; have expertise navigating permit processes through regulatory bodies; possess strong financial acumen so that proposed investment scenarios can be evaluated properly etc.

Goals that should be established when initiating a BR& E Program could include expanding employment opportunities over a certain period of time (1 year or 5 year period); increasing annual wages paid by participating companies within 3 years etc.; increasing total investment dollars spent annually by participating companies within 2 years etc.; increasing tax base revenues generated by participating companies over a five year period etc.

Yes there are potential drawbacks when implementing an effective Business Retention & Expansion program - these could include overemphasis on job needs at expense of population growth objectives leading high unemployment rates being sustained over extended periods causing serious social problems such as high levels of crime rates; lack of public resources during lean economic times making it difficult for effective ongoing operation/maintenance of government sponsored initiatives.