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The Economic Development Council of Collier County is launching new initiatives under its newly formed Business Retention and Expansion Advisory Board.

The board’s goal is to develop ways to retain businesses in Collier County and help existing ones expand.

The group will strive to diversify the economy and support targeted industries _ health and life sciences, computer software and services, and distribution.

Three working groups have been formed by the board: Small Business and Entrepreneurship Working Group chaired by Dr. Lily DeBleiux of Widespread Technologies - Xerox; Financial Resources Working Group, chaired by Mark Schlehr of Wachovia; and Workforce Working Group, chaired by Kevin Cooper of NCH Healthcare System.

The chairman of the Business Retention and Expansion Advisory Board is Terry McMahan of Hodges University.

“The intensity and vibrancy of the working group members is impressive,” McMahan said in a statement. “It is very exciting to kick off a new year of initiatives. I have a sense that the scope of accomplishments of these groups will be tremendous.”

The next meeting of the Business Retention and Expansion Advisory Board will be at the EDC offices, 3050 N. Horseshoe Drive, Suite 120, on Feb. 6.

The meeting is open to the public, but an RSVP is required. To reserve a space, e-mail robert@enaplesflorida.com.