jobs retention:

… results in a location where a business retention strategy is driven by a pro-business attitude combined with a best practices approach towards enterprise and economic development. Strategies involve organized activities aimed at keeping workers on the job.

Approaches to job retention can be same as job creation where there political interest in shoring up an economy, for example, when unemployment is on the rise. Measuring Economic Development: The Innovation Index is the title of an article online offering additional comments. It's at the website of the National Conference of State Legislatures.

Job retention can be the aim of actions taken by special interest groups, such as labor unions, seeking to protect existing jobs, sometimes without regard for whether or not they are obsolete. The point is underscored by the classic example of railroads having to keep workers on the job as firemen long after the days of the steam locomotive were gone.

A definition published in About Economic Development states the following: From a policy perspective, economic development can be defined as efforts that seek to improve the economic well-being and quality of life for a community by creating and/or retaining jobs and supporting or growing incomes and the tax base (source of quote).

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