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Megatrend #3: Increased Competition for ED Projects <br />DRIVERS <br />The maturation of the economic development field <br />Increased sophistication of relocating/expanding companies, especially <br />as incentives have proliferated <br />A limited pool of relocating and expanding companies <br />L <br />r <br />IMPLICATIONS Increased emphasis on Business Retention and Expansion (BRE) <br />• Your BRE is your best defense again competing regions' business <br />recruitment programs <br />• How you treat your current businesses is the best indicator of how <br />you'll treat my client <br />Synchronization among stakeholders and local, regional, state players <br />Knowing your value proposition is key <br />Branding to communicate your value proposition sets you apart <br />Community image and reputation matter <br />More high-profile, direct -by -company searches <br />