Business Retention and Expansion
2020 – Present
Bowman County’s economy is driven by a wide variety of businesses and services. Owners, managers and employees of the county’s businesses have invested money, time, and energy to serve their customers and it is important to understand how these businesses are sustaining and changing. A healthy local economy depends on the well-being of its existing investors and Bowman County Development Corporation (BCDC) wants to understand if there are opportunities to assist.
To build relationships and develop a clearer picture of the industry and business in Bowman County, the BCDC implemented a Business Retention and Expansion (BR&E) program in the fall of 2020. These efforts will allow greater understanding of the economy and its drivers and how to effectively reach and best serve the businesses here.
Staff at BCDC diligently collected contact information to develop a comprehensive list of businesses in the county. Businesses received a survey to begin creating a benchmark. The questions were specifically crafted to understand the needs of the businesses in the local area.
This survey was just the starting point for the program. As surveys are completed and returned, in-person, on-site business visits will be scheduled in order to further the dialogue, create an open relationship, and encourage collaboration. BCDC is available to assist businesses in a variety of situations through a good understanding of available programs and resources in the region. This will help create connections that will help Bowman County businesses thrive.
“The goal of implementing a program like BR&E is to ensure that we can assist businesses in continuing to pivot, grow, and flourish and provide access to the appropriate resources to do just that. We are grateful for the jobs and services in our community and we want them to know that BCDC can be their ally and resource for continuing to be a viable, successful business in our region,” says BCDC Executive Director, Teran Doerr.
Short-term goals of the program are to understand:
- Workforce needs
- Programs available to assist businesses
- Anticipate and recognize challenges that may arise
- Create an open dialogue between businesses and local, state and federal government
The information gathered from businesses will also be key in helping educate stakeholders, developing a strategic plan, and identify growth opportunities. Doerr concluded, “The most productive, realistic and cost-effective approach to economic development is to help our existing business base.”