Boosting the Local Economy

February 4th, 2011 by Tuff Turf Molebusters

Here’s some information I came across in a recent edition of Lawn and Landscape magazine. I think it’s some excellent information.

Boosting the local economy

Buy local. Though certainly not a new idea, supporting local businesses has received a push from a national movement of independent business owners that have formed Independent We Stand to educate their communities on the benefits of shopping at neighborhood stores. Independent We Stand is funded in part by STIHL.

The movement uses recent surveys to break down the benefits of buying from local businesses. According to the group:

If you spend $100 at an independent business, $68 returns to the local community. Spending the same amount at a national chain equates to $43 back to the community.

Small businesses create 75 percent of all new jobs and half the non-farm private gross domestic product.

Locally owned businesses reinvest in its communities economy at a 60 percent higher rate than chains and Internet retailers.

Locally owned and operated businesses provide higher-paying jobs.

Finally, more tax dollars are reinvested in the community to fund essentials such as schools, fire and police and road improvements.

“This project began as a way to inform friends and neighbors on one of the best ways to revive our economy: buy local,” says Bill Brunelle, spokesperson for Independent We Stand.

“Buying products and services from people who work and live in your town means more money goes back to your local area,” he says.