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STRATEGIC INITIATIVE I: FOSTER THE RETENTION AND GROWTH OF JOBS <br />STRATEGIC CHALLENGES: <br />• More than 80% of all new net jobs are created by existing businesses and startups, prioritizing the need for <br />robust programming in Business Retention and Expansion. <br />• The PEDC does not have a formal business survey program in place for existing industry. (Update: Survey <br />Program Established in 2022) <br />• The PEDC does not have a CRM or formally track data pertaining to existing employers. (Update: Tracking in <br />Confidential Database 2022) <br />STRATEGIC ACTIONS: <br />1. Determine the needs, opportunity areas, and challenges of existing employers through a formal business <br />site visitation program. <br />2. Implement a formal survey in Lamar County in partnership with Paris Junior College to understand overall <br />business climate, challenges in the local workforce, supply chain, opportunity areas for expansion and <br />recruitment and general business intelligence for our region that will inform our strategies and <br />programming. <br />3. Establish board member liaisons for existing industry and host dinners with corporate executives/plant <br />managers in partnership with the executive director to communicate appreciation and strengthen <br />relations. <br />4. Coordinate with local leadership of major industry to organize calling on corporate headquarters. <br />5. Establish roundtable with plant managers to encourage existing industry collaboration, foster <br />opportunities, and identify solutions to shared challenges. <br />6. Coordinate with the Chamber to establish a host team to assist with recruitment and hosting of executive <br />personnel moving to Lamar County. <br />7. Seek opportunities to connect existing industry to business opportunities, target relocation of suppliers and <br />foster opportunities for vertical integration. <br />8. Develop an internal incentive guideline that aligns with current revenue and fund balance to assist staff and <br />board in making financial decisions on retention and expansion projects. <br />9. Champion and support pro-business legislation and policy through participation in and outreach to TEDC <br />legislative affairs, Texas Association of Business (Texas State Chamber) and elected officials. <br />10. Record and track all confidential business intelligence in a CRM database to maintain data and determine <br />trends that will inform leadership and programming. <br />4 — PLAN UPDATE 6/2023 <br />