Program Purpose:  The Business Retention Program provides assistance to local regions to implement strategies for averting layoffs. 

How the Program Works:   The Business Retention Program provides funding to local workforce regions to hire a Business Retention Coordinator.  The Business Retention Coordinator assembles and leads a team of community experts who target at-risk companies, develop strategies for layoff intervention and leverage resources to save jobs.  By establishing and implementing this “Early Warning Network”, the Business Retention Teams can avert layoffs and closures and return a business to profitability within that community. 

 In order to identify at-risk companies, a Business Retention Team may use the following factors that influence closures:  1) Failure to pay bills, i.e., utilities; 2) Small lay-offs (not tied to seasonal conditions); 3) Increase in Unemployment Insurances filings; 4) Lack of hiring activity/new hires; 5) Changes in leadership (plant manager, human resources or owner/ownership); 6) Rumors that originate with current employees; 7) A large number of current employees beginning job search; 8) Lack of capital investment in plant or equipment; 9) Moving equipment out of business; 10) Decreasing involvement in community activities; 11) Expiring union contracts; 12) Contacting lending institutions for operating capital; 13) Natural disasters; 14) Economic issues with larger companies who may have sub-contracted with businesses in the region; and 15) Economic changes in specific industries.

Special Program Requirements:  

· The Business Retention Teams determine companies that are targeted as “at-risk”.

· Due to limited resources community impact determines those companies that are targeted by the Business Retention Team.

· There must be documentation for the reason why a company is determined to be “at-risk”.

Program Performance:  All businesses receiving assistance shall have specific measurable performance outcomes to be collected by the Business Retention Team and should include at a minimum:

· Names of businesses assisted;

· Number of jobs saved and corresponding wage rates;

· Summary of strategies used to assist and the outcomes for each strategy;

· Measured increases in productivity; and

· If applicable, verified higher post-training wages of participating employees.

Eligible Areas:   Through a competitive funding proposal, the thirteen counties of the Southeast Region in Missouri were awarded funds for Business Retention Programs.

 Contact:

Scott Sattler

Manager, Business & Industry

760 S. Kingshighway, Suite C

Cape Girardeau, MO 63703

Fax: 1-800-451-0990

Phone: 573-334-0990

Email: scott@job4you.org

Economic Development Resources

Missouri Department of Economic Development	Missouri Economic Research & Information Center
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