Report period: Dec. 2015 – Feb. 2016

By: Rick Abel, KCEDA Business Development and Retention Manager

Shortly before the end of 2015 KCEDA launched a new program to help strengthen existing companies, establish early warning systems to flag at-risk businesses that require assistance, and ensure that local economic development programs meet local business needs. The KCEDA retention and expansion initiative includes a mechanism for linking expanding businesses with local economic development resources (i.e. loan programs, small business assistance, and technical assistance). At the same time KCEDA uses its network of members to seek unique solutions to issues and opportunities for Klamath businesses.  Over the last few months several services have been requested on a regular basis including

• Assistance with workforce issues and connecting with local career education programs (30% of all requests).
• Identifying funding (loans, investors, capital formation) for different small business opportunities (18% of requests for services).
• And simply connecting clients to our local, state and federal service providers (SCOED, SBDC, Business Oregon).

As Business Retention and Expansion Manager I am encouraged by what I am hearing from our local business community. In summary business and industry are seeing money flow, markets expand, and new opportunities on the horizon.

At the same time, we have companies that are struggling to be competitive.  As the Retention and Expansion Manager my job is to bring all of resources to bare to keep our economy safe. According to the International Economic Development Council “As the national economy and competition among communities for footloose businesses heats up, business retention programs have become the most popular economic development efforts of communities nation-wide”. KCEDA is working with close to 20 companies in various stages of expansion or are considered at risk for retention.  In summary, here is some early data from our program.

BRE Project Portfolio Summary (Dec. 2015-Feb. 2016)

KCEDA Retention/Expansion Clients (open files): 16

BRE Activity: 68% Expansion / 32% Retention

Total Jobs at Risk (Retention): 524

Total Jobs to be Created (Expansion): 178

Total of all Jobs: 702

Total Potential Capital Investment Expansion Equipment: $10,500,000

Total Potential Capital Investment Expansion Facilities: $3,950,000

The above information is part of what we call our “open file portfolio.” What this means is that we are working with our BRE committee, economic development allies, and our KCEDA members with over 16 companies and calling on additional companies weekly. An “open file” represents any company that is at risk of downsizing or that is considering and expansion. In closing, our program is about relationship building, so that we can be an influence on how Klamath County Business view our local business climate.  For more information, feel free to contact me by email rick@teamklamath.com or KCEDA office 541.882.9600.