Fort Lauderdale and its chamber of commerce will spend $60,000 on a program launched Wednesday to retain and expand business in the tough economy.

Dubbed ``Business F1rst,'' the initiative will be funded equally by the Greater Fort Lauderdale Chamber of Commerce and the city of Fort Lauderdale.

``We're not going to wait on the federal government. . . . We're going to move forward to try and stimulate the local economy. . . ,'' Fort Lauderdale Mayor Jack Seiler said in a chamber address Wednesday.

During the next seven months, the Business F1rst team will survey 300 local businesses and conduct 50 company visits to solicit feedback on their key needs and concerns.

A final report detailing survey findings and other program recommendations is planned for next March.