Existing Business Growth - A Top Priority and Critical to Success

Jul 1, 2018

Over the past 18 months, there have been several notable expansions from our existing businesses. These include an almost completed 60,000 square foot manufacturing facility in the Greater Cape Girardeau Business Park by Idyllic Enterprises and SI03, 30 – 35 new jobs at Schafer’s Electrical Enclosures, 150 new jobs from AT&T, and numerous hospitality and restaurant projects. Even several of our new businesses are results of working with existing developers.

Statistics show even though start-up companies and new businesses are gaining in overall job creation, 60 – 70% of new jobs still come from existing business. The Chamber conducts a BRE (business retention and expansion) program continually. This is accomplished through meetings with existing business representatives both formally and informally. We gather information on the strengths, weaknesses, opportunities, and threats of both the area and the company. Armed with this information, we can address issues and advocate on behalf of our business partners resulting in reduced impediments to growth and leading to more stability in our business base and, ultimately, more investment and jobs.

Keep in mind, a complete economic development plan still includes efforts to recruit new business and industry and support an entrepreneurial climate conducive to start-up ventures. But let there be no doubt, growth from our existing business base is critical to success.