Business Retention & Expansion
Duncanville is 91.94% build-out, which makes all business (retail, commercial, industrial) critical to the vitality of the local economy. Studies have shown that 80% of business expansion in a community is from existing businesses and not newly recruited businesses. In addition, it takes twice as much time and resources to recruit a new business as it does to retain an existing one. Thus, making a Business Retention and Expansion Program a critical part of Duncanville’s overall strategy.
The Duncanville Community and Economic Development Corporation (DCEDC) Business Retention and Expansion Program’s (BREP) purpose is to serve as a catalyst to open lines of communication, create valuable relationships with Duncanville’s businesses, and help retain and foster growth among existing businesses. Through cooperative teamwork among stakeholders, the DCEDC’s BREP will focus on identifying concerns, barriers, and solutions for businesses in order to improve business retention.
Teamwork among many stakeholders will improve the competitiveness of businesses and improve the local economy. Staff will work with the various stakeholders depending on the immediate and long term needs and concerns of the individual businesses.
Visiting businesses and creating positive relationships is the key component in the DCEDC BREP. This allows economic development staff to learn about the various types of businesses in Duncanville and their industries. In addition, this opens lines of communication and increase the chance that businesses will contact the DCEDC for help if they have a concern or experience an obstacle. The improved communication will increase the chances of business retention and expansion in the community.