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-12- <br /> VII. RETENTION OF INDUSTRY0 <br /> / Integral to any successful economic development program or plan is an ongoing <br /> industrial retention effort. Why? Because it is hard to attract new companies to <br /> 1 a community if they're unable to retain those already there. Besides, keeping <br /> // present employers is the first, and easiest, step in expanding the economic base. <br /> Statistics state that 75 to 85 percent of all new jobs in a community come from <br /> the expansions of existing companies. It is, therefore, critical to make every <br /> effort to keep what you already have. This is where most of the growth will <br /> occur and will actually help in attracting new companies. A contented businessman <br /> is the best ambassador for prospective industries. <br /> In Chapter III, Page 5, we stated that one "base job" stimulates enough cash flow <br /> to support ten people in the community. The converse is also true. With layoffs <br /> and plant closings come the resultant social problems. Usually, crime increases, <br /> and the general quality of community life deteriorates. We reemphasize to take <br /> care of the businesses you currently have. <br /> So, how does a community insure itself against losing its present industrial base? <br /> By talking with them! , <br /> Open up the lines of communication between the community and companies and <br /> "tune in" on any matters that may be indications of trouble. Then act in a <br /> positive way to avoid serious situations which could result in employee layo <br /> cancelled expansion plans, plant closings, or relocations. <br /> Not all problems are solvable — especially those brought on by hard economic <br /> times. However, issues involving zoning laws, streetlighting, water and sewage <br /> facilities, tax inducements or incentives, labor relations, or transportation <br /> facilities are most often solvable or correctable. It's important to have lines of <br /> communication established to detect these issues and work on them before they <br /> become full-blown problems. <br /> One of the more successful methods to open this communications channel is the <br /> paired team visitation approach. This involves two community volunteers making <br /> a direct call on the CEO or owner of the business and establishing a dialogue. <br /> The purpose of the visit would be to express the community's gratitude for them <br /> being part of the community, to talk over any problems which might exist, and <br /> to encourage them to consider expansion plans. The visit also allows for an <br /> informal questionnaire to be taken, which will be discussed later in this chapter. <br /> • <br />