Business Retention and Expansion: Thriving Through COVID-19 and Beyond
Montgomery County, Ohio
COVID-19 has spawned concern for the health of communities and anxiety for the future of local businesses. Amidst the uncertainty, area organizations look to economic development leaders.
Here are five ways we’ve learned to activate commitment to the business community in these trying times:
- Keep a Pulse on Your Companies
Proactively sparking conversation with businesses in your community showcases your dedication to keeping them in business.
During COVID-19, our five-county initiative BusinessFirst! reached out to local businesses rather than waiting for them to call us. Our team connected them with 100+ community resource partners in our professional network.
- Understand the Difference Between Surviving and Thriving
Most company leaders have everyday concerns keeping them awake at night. Insert a global pandemic into the mix, and new challenges emerge.
When speaking with local business leaders on how you can offer support, help them determine how to shift operations through active listening. Don’t miss the chance to pinpoint system gaps magnified by the crisis and connect them to resources that will make old processes flow differently, or be replaced by new offerings.
- Minimize Information Overload
Throughout COVID-19, most brands have shared their stance on the pandemic. These messages have filled our inboxes, leaving no room for content we actually need.
Montgomery County Economic Development searched for opportunities to share information without overwhelming local businesses. By combining our communications throughout COVID-19, we have ensured companies receive necessary resources from one location so they efficiently keep doing business.
- Personalize Virtual Opportunities
Zoom, Skype, and Google Meetings are thriving during the pandemic because they provide a sense of connection from any location. Our team has used these channels along with other personalized tools.
Personalizing virtual meetings makes a world of difference to businesses. From phone calls, tailored informational emails and online business forums, efforts in Centerville touched approximately 100 companies. We made regular updates to the community website and social media, with answers to frequently asked questions as well as local restaurants open for carryout.
- Celebrate Local Achievements
“Recognize all major stakeholders including the business, resource partners that support your BR&E program and frontline Economic Development Professionals.”
– Laith Wardi, ExecutivePulse
Local governments and businesses have been on the job to support our neighbors, including:
- The REOPEN Downtown Dayton Grant —a collaborative effort between Reopen Dayton, CareSource Foundation, Dayton Area Chamber of Commerce and Downtown Dayton Partnership—provided $700,000 in immediate relief for locally owned restaurants, retailers and other personal service businesses.
- The City of Kettering granted three-year, zero interest micro-loans for retail and service businesses with 25 employees or less.
- The City of Springboro and Springboro Chamber of Commerce organized an emergency stimulus program, sharing up to $5,000 in gift card purchases for locally-owned businesses.
COVID-19 has brought our community together in ways we couldn’t fathom six months ago—even after 2019’s tornadoes. Looking ahead, let’s remain realistic and remember where we can add value to local business partners. Connection, collaboration and innovation build a strong bridge to the future.
About three months ago, we launched our Recovery Within Reach campaign, a first-of-its-kind effort to educate Ohioans about the financial effects of opioid addiction — and to connect them with treatment options close to their homes.
Our goal is to create a new way of talking about addiction, one in which people consider the facts and practical realities of how substance use disorder affects their lives. Not long ago, Gov. Mike DeWine challenged all of us in state government to think of ways we could help Ohioans navigate the opioid crisis that has affected our state for so long. For us, that meant considering the financial effects of addiction — and providing tools and trainings to help Ohioans and financial advisers talk about addiction and access care.read more
Uptown Consortium, Inc. (UCI) received $45 million in New Markets Tax Credits, which it will use to spur development in transformational projects in Uptown Cincinnati.read more
Newark Development Partners (NDP), the community improvement corporation for the City of Newark, continues to further development in the Downtown through various projects. The sale of the Hudson Avenue Church with surrounding property, the renewal of the Downtown Special Improvement District and the commencement of construction at the Historic Arcade are all recent successes for the City of Newark.read more