Lanark County is launching a new Business Retention and Expansion initiative aimed at helping local businesses grow and create jobs.
The program, introduced during Wednesday’s Economic Development Committee meeting, will involve surveys and interviews with businesses across the county to identify challenges, opportunities and barriers to growth.
This is an ideal way to spot red flags, says Warden Richard Kidd.
Councillor Jeff Carroll is excited about the collaboration this project invites.
According to the report presented by BR+E co-ordinator Tim Woods, research shows between 70 and 90 per cent of new jobs are created by existing businesses rather than new companies moving into a community.
The county says supporting current employers is often lower cost and lower risk than traditional business attraction efforts.
The project will gather information from sectors including agriculture, manufacturing, tourism, retail, construction and natural resources.
Interviews with businesses are expected to begin this summer, with a final report and action plan to follow in early 2027.
Story by Grant Deme
