In June 2009, The Lorain County Growth Partnerships’ Business Connection program successfully completed its inaugural year. The program exceeded goals by completing 104 interviews and creating a county-wide database of over 5,000 Lorain County businesses. Companies that participated were targeted based on a sampling of location, size and industry. The group found that despite the sluggish economy, 56% of the companies interviewed indicated that they plan to expand their business locally within the next few years. Total investment is estimated at more than $80 million dollars and is expected to create more than 400 new jobs in Lorain County. Team Lorain County played an integral role in further developing relationships and setting the stage for future expansions.
The team was able to identify over 200 opportunities to assist Lorain County Businesses. In general, the companies that participated appreciated a one-stop approach to the Growth Partnership resources as well as the proactive approach to business retention. Opportunities included business coaching, workforce training and expansion assistance.
Year two kick’s off in later this month and will work to continue the programs success.
- 76% of all executives see opportunities to expand their market share and find a new competitive advantage in the current economy.
- 63% stated that primary business products or services are emerging or growing.
- 72% are expecting to add new products and services over the next two years.
For more information or to see how your business can participate please contact: