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SUBJECT: 2021 BUSINESS RETENTION REPORT <br />DATE: APRIL 22, 2022 PAGE 7 OF 7 <br />• Workforce attraction and retention; <br />• Significant changes in order volume and product demand; and <br />• Pivots to hybrid models and virtual participation. <br />Given that companies remain in recovery from the COVID-19 pandemic and now also <br />may be experiencing impacts from the Marshall Fire, staff also feels it important to also <br />share about business closings that have occurred. The data below is drawn from City <br />licensing activities and businesses that have voluntarily asked to close accounts or <br />where staff has knowledge about a particular closure. <br />Business Licenses Voluntary Closed in 2021 <br />Home -based businesses <br />19 <br />Brick -and -mortar businesses <br />19 <br />License Closures by Business Type <br />Retail <br />7 <br />Service <br />10 <br />Industry/Manufacturing <br />2 <br />The City processed 162 license closure requests in 2021, but the majority of these <br />relate to outside -City licenses. Also, the majority of the requests for brick -and -mortar <br />licenses were not for closures —a number of businesses were sold to different <br />ownership or changed their business entity registration. <br />Staff will be available to answer any questions about business retention activities to - <br />date or plans for 2022. <br />RECOMMENDATION: <br />No action required; for information only. <br />ATTACHMENTS: <br />• Attachment #1: 2022 Business Retention Visit Survey Tool <br />Agenda Packet P. 13 <br />