GGEDC’s Annual BRE Report; Outreach for Economic Expansion
21 Aug 2023
In June 2023, Greater Gallup Economic Development Corporation (GGEDC) released its FY 23 annual Business Retention & Expansion (BRE) Outreach Program Report. Crafted to serve industry and business needs in Mckinley County, the report program utilizes information from survey and interview visits conducted with the leadership of top economic-base employers.
The BRE Outreach Program is fundamental to helping industry in McKinley County thrive. Specific goals of the BRE program are to build partnerships with economic-base companies, support the expansion plans of local companies, and add value to their company operations. The program also seeks to educate companies on economic development initiatives, regional priorities, and other work conducted by GGEDC and its partners. By connecting different organizations and businesses, the program functions to align state, regional, and local economic development goals for maximum impact.
The BRE survey gathers actionable information in five key target areas:
- Basic company information, including current points of contact, major suppliers, and customers
- Year-over-year business data and projections related to the company's operations
- Existing facilities, infrastructure needs, and expansion plans
- Workforce, staffing, and training needs
- Company perceptions regarding the various factors impacting the overall business climate in McKinley County
By gaining insight into these areas, GGEDC is able to stay informed on local needs, formulate strategies and potential solutions, and help build mutually beneficial relationships throughout Mckinley County.
FY 2022-2023 BRE Survey Process
Between August 2022 and April 2023, GGEDC staff completed hour-long interviews with 10 economic-base employers. In each interview, the companies were encouraged to share specific challenges and opportunities they were facing. Participants were also asked for feedback on how GGEDC could best assist them.
The private sector companies interviewed for this report include:
- BNSF Railway
- Continental Divide Electric Cooperative
- Kinder Morgan / El Paso Natural Gas
- Commnet / Sacred Wind Communications
- Peabody Energy / El Segundo Mine
- Rhino Health Inc., LLC
- McKinley Paper Company
- Tri-State Generating and Transmission Authority / Escalante Generating Station
- Rehoboth McKinley Christian Health Care Services (RMCHCS)
- Advanced Air
Significant Highlights from the Report
The 2023 Annual Report saw a wealth of positive feedback from local companies. Seven of 10 BRE Partners stated they planned to upgrade or expand their facilities and/or make major equipment purchases in the next two years. In addition, seven of the BRE Partners added 31 new jobs to the economy and are expected to add more jobs during the remaining months of 2023. Demonstrating this positive trend within the region even further, seven of the partner companies expressed confidence that 2023 would be a better year for business than 2022, in terms of sales, orders, and profits.
The report also unpacked challenges that local businesses and industries are facing regionally. Businesses reported experiencing workforce shortages coupled with issues recruiting and retaining qualified talent. Other issues included challenging market and price shifts and supply chain issues. With these issues in mind, GGEDC has created an actionable BRE plan for next year.
GGEDC has Developed an Informed Work Plan for McKinley County
With the information provided in the report, GGEDC has prepared its annual work plan for its BRE Outreach Program in FY 24. The plan is directly informed by McKinley County’s unique and current business needs and will be responsive toward proactively addressing company challenges and helping partner companies take advantage of new opportunities.
In 2021, GGEDC received a national award from the International Economic Development Council (IEDC) recognizing its responsive and innovative BRE Program which helped to save a local business. For more information on the award, click here.
To stay updated about GGEDC’s plans for the next year, follow GGEDC on social media and check out GGEDC’s news center. To view the full BRE report, click here.
Greater Gallup Economic Development Development Corporation
GGEDC expertly works to support economic-based businesses, be they industrial, small businesses, or entrepreneurs. Reach out to us at (505) 722-2980 or via email to see how we can help today! Follow us on Facebook, Twitter, and LinkedIn!