Halifax IDA ramps up Existing Business Retention Efforts
The Halifax County Industrial Development Authority (IDA) ramped up its business retention efforts in January 2009 by purchasing, along with the State of Virginia, web-based business retention software called Executive Pulse. Working closely with economic, workforce and community development professionals, Executive Pulse provides a full array of customized technology, training, management and survey solutions for regions (large and small) that are serious about the business of retention and expansion and how it impacts their economic, workforce and community development strategies.
Did you know that 80% of expansions and economic activity comes from existing business? That means that existing business is the IDA's biggest prospect! In today’s economy it is more important than ever to work closely with existing businesses to find out what the Halifax IDA can do to help. One of the real benefits of Executive Pulse is that the information that is collected can be reported back to the community as well as to the state economic development office and other service providers. As information builds in the database, service providers such as the Virginia Department of Business Assistance can help meet the needs of our local businesses in areas such as workforce development, company recruitment, and training costs.
Currently the Halifax IDA visits various businesses each week and gathers feedback about the company such as workforce, sales, e-commerce, facility and equipment data. In addition, visits include feedback about the company’s attitudes and opinions regarding the community, the local and state business climate, municipal services and future economic conditions and business plans. Annual visits to businesses in Halifax County will allow the IDA to better understand businesses needs. In addition these visits will allow a better communication channel between the IDA and existing businesses. If you would like to know more about our business retention efforts, please contact Halifax IDA Executive Director Mike Sexton at msexton@halifaxvirginia.com or Halifax IDA Marketing and Research Director Nancy Smith at nsmith@halifaxvirginia.com, or phone the office at 434-572-1734.
Joseph Rogers, 30, Owner of Rogers Heating & Cooling recently received national recognition as a 2019 Top 40 Under 40 HVACR Professional. This prestigious award was presented by HVACR business. This magazine is distributed to HVACR contractors nationwide and stands as the only information resource totally dedicated to helping the leaders of HVACR businesses improve their business performance.
