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Existing businesses are the best ambassadors for attracting new <br />Finns. Prospects typically *will discuss the business climate with <br />existing firms. <br />Existing businesses are the best indicator of the health of the local <br />economy. <br />Local retention and expansion programs can influence an existing <br />firm to remain and/or expand. Such programs can mean the <br />difference between losing, retaining or gaining jobs and <br />investments. <br />These reasons may be briefly summarized by the following quote: "...the first <br />order of the economic development business must be to keep the existing companies <br />happy where they are, so that they do not become another community's target." <br />An effective business retention and expansion program will have one significant <br />benefit -- the support and creation of new jobs, investments, tax base and expansion <br />of personal income and wealth. Other benefits from a program include: <br />• Provision of an "early warning" system for companies in <br />trouble and identification of companies in need of <br />assistance for expansion. <br />• Information on the competitive position of the community. <br />A source of referrals to other companies looking for new <br />locations or suppliers to existing companies that may be <br />recruited. <br />• Demonstration of community's pro business climate. <br />• Provisions of a channel of communications between local <br />companies and community leadership. <br />4 <br />920 <br />