HR Green Business Retention - Manual (Page 2)

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Create response teams that are tailored to the focus of the survey
+ Create programmatic tools designed to focus on the needs of local businesses
+ Prioritize retention activities – focusing on initiatives that have the greatest impact
▪ Capturing local entrepreneurial opportunities:
Harnessing the collective interest of local businesses and resources can result in
the creation of some very innovative programs and facilities. For example, creating
venues for angel investors, micro lending, and incubator space can help new start-
ups get a leg up in starting new business as well as transitioning from a current full-
time position with a current employer into a self-employed opportunity. Our focus is
on identifying local and regional resources and capturing those that create a favorable
entrepreneurial climate
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Incubators
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Peer review resources
+ Revolving Loan Fund programs
▪ Speculative Building Programs:
As a general rule, speculative buildings are generally depicted as a business attraction
strategy. However, these projects can also help facilitate the expansion of a local
business. While there are a variety of considerations that are important to create an
approach for this type of project, one trick is to determine if the company is looking
for permanent or temporary space. Depending upon the response, the owner will
want to consider improvements that are tailored for the tenant versus a more generic
design that is likely to be well received by future tenants or a prospective owner.
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Identify design alternatives that are generic yet attractive to prospective business
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Target and secure resources to design and construct facilities
+ How to capture partners that share in the investment – both short- and long-term
▪ Incentives and Policies Concerning Incentivizing Projects:
Financial incentives are part of the fabric when it comes to attracting new businesses
as well as helping local businesses to expand. The objective is to balance the
needs of the project with a measurable benefi t to the community. Having been
intimately involved in representing both private sector clients and municipalities in the
negotiating fi nancial incentives, we can provide unique insight to communities.
+ Identify and evaluate alternatives to generate private sector investment
+ Create tax increment fi nance areas (TIF), Business Improvement Districts, Self-
Supported Municipal Improvement Districts, Enterprise Zones, Urban Revitalization
Tax Exemption Areas
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Develop and implement local or regional revolving loan fund programs
+ Create a uniform policy and practice to administer fi nancial incentive programs
+ Negotiate private development agreements
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