Business Retention

Business retention refers to the rate of growth or decline in the number of neighborhood businesses over time; a decline in business growth is considered a solid indicator of recession. Business retention is key to the health of the local economy; a poor local economy has been associated with increased long-term sickness and recession has been linked to negative health outcomes such as decreased mental health. The HCI Business Retention indicator is determined by measuring the number of businesses that have opened or closed on a year-to-year basis. Although found under the Economic Health domain, business retention can also be linked to employment, social cohesion, and neighborhood characteristics. Although business retention data is available at the zip code level (reported according to the number of businesses within a community from year to year) through the U.S. Census, some cities may choose to use locally collected data for this measure.

Neighborhoodsort descending Indicator Value Rank
Blackstone -0.2% 12
Charles -0.2% 12
College Hill -1.4% 22
Downtown -1.9% 24
Elmhurst -0.1% 9
Elmwood -0.0% 1
Federal Hill -1.8% 23
Fox Point -0.3% 17
Hartford 0.0% 1
Hope -0.0% 1
Lower South Providence -0.1% 9
Manton -0.0% 1
Mount Hope -0.2% 12
Mount Pleasant -0.1% 9
Olneyville 0.0% 1
Reservoir -0.0% 1
Silver Lake 0.0% 1
Smith Hill -1.3% 21
South Elmwood -0.2% 12
Upper South Providence -1.1% 20
Valley -0.0% 1
Wanskuck -0.2% 12
Washington Park -0.3% 17
Wayland -0.4% 19
West End -% -

Key Citations:

  1. Cothran H. Business Retention and Expansion (BRE) Programs: Why Existing Businesses Are Important. Food and Resource Economics Department, Florida Cooperative Extension Service, Institute of Food and Agricultural Sciences, University of Florida. 1 Aug. 2006. Web. 4 Feb. 2013. .
  2. Virtanen M, Mika K, MaElovainio, Pekka Virtanen, and Jussi Vahtera. “Local Economy and Sickness Absence: Prospective Cohort Study.” Journal of Epidemiology and Community Health 59, no. 11
  3. Takano T, Nakamura K. An analysis of health levels and various indicators of urban environments for Healthy Cities projects. Epidemiol Community Health. 2001; 55: 263-270.