DT #557 Building Bridges: The St. Louis BRE Initiative

Summary

In this episode of the Develop This podcast, Dennis interviews Jason Archer, the Vice President of Business Development for the St. Louis Economic Development Partnership. They discuss the importance of business retention and expansion (BRE) programs, particularly the innovative regional BRE committee established during the pandemic. Jason shares insights on building trust among economic development partners, the structure of their outreach efforts, and the challenges faced in maintaining collaboration. The conversation highlights the significance of data collection, quantifying success, and practical advice for other organizations looking to implement similar initiatives.

Takeaways

• The St. Louis Partnership focuses on economic development for the city and county.
• Business retention and expansion (BRE) is a key pillar of economic development.
• The regional BRE committee was formed during the pandemic to enhance outreach efforts.
• Trust-building among economic development partners is crucial for collaboration.
• Companies appreciate streamlined communication from multiple agencies in one meeting.
• Regular meetings and centralized scheduling improve efficiency in outreach.
• Data collection is essential for understanding company needs and measuring success.
• Challenges include managing outreach frequency and overcoming company hesitance.
• Formalizing processes can help in establishing effective BRE programs.
• Sharing success metrics fosters accountability and collaboration among partners.