Implementation Schedule: Business Retention, Expansion, and Attraction
POTENTIAL LEAD IMPLEMENTERS: Cheyenne LEADS
POTENTIAL SUPPORTING PARTNERS: Greater Cheyenne Chamber of Commerce; Wyoming Business Council; Utilities; Private Employers/Existing Businesses; City of Cheyenne; Laramie County; Visit Cheyenne; Governor’s Office; Downtown Development Authority; Manufacturing Works; Cheyenne Area Workforce Alliance (recommended); Laramie County Community College; University of Wyoming
POTENTIAL COSTS: Enhancement of business retention and expansion programming should be supported by a new staff member (see section entitled “Organizational Capacity: Staff and Financial Resources”) whose total personnel costs could reasonably begin at $80,000 annually, and an annual program budget of roughly $20,000 to support responsiveness to employer concerns and the maintenance and deployment of customized survey-deployment and customer-relationship management (CRM) software for business retention and expansion.
Adjustment to the community’s approach to corporate recruitment should in part be covered by realignment of existing expenditure. However, an additional $25,000 annually can help ensure that various program components (comprehensive website update, targeted attraction efforts generated from existing business leads, additional out-of-market and inbound trips, proactive media relations and story placement, etc.)
POTENTIAL FUNDING SOURCES: New monies will be required to support program expansion (see section entitled “Organizational Alignment” for a discussion of fundraising considerations).