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Original Articles

MEASURING IMPACTS OF BUSINESS RETENTION AND EXPANSION VISITATION PROGRAMS

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Pages 123-143 | Published online: 10 Dec 2009
 

Abstract

Effective program evaluation provides feedback from participants that can be used to make improvements and justify program expenditures. This study describes a method of evaluating the benefits of Business Retention and Expansion (R&E) visitation programs. The effectiveness of this relatively new economic development strategy has not been explored systematically. Opinions of 81 program coordinators across six states were solicited regarding eight key aspects of the benefits of their R&E visitation program. The R&E visitation program was most beneficial at enabling the community to demonstrate a pro-business attitude and at providing data for local economic development strategic planning. The R&E program objectives of helping firms use state and federal programs and providing early warning for plant closures did not rate as well, suggesting a need for changes in the program. Despite these deficiencies, the R&E programs were rated very successful, with eighty-nine percent of respondents recommending it to peers in other communities.

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