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Modest changes in consumer spending habits can generate substantial local economic impact.





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Studies on Buying Local PDF Print E-mail

Civic Economics study on Grand Rapids, Michigan

• For every $100 spent at a locally-owned business, $68 stays in the local economy compared to only $43 if spent at a national chain.

• A 10% shift in market share from chains to locals could result in: Nearly $140 million in new economic activity, over 1600 new jobs, and providing over $50 million in new wages.

Source: Civic Economics study on Grand Rapids, Michigan – Sept. 2008



Anderson Study of Retail Economics

• Local firms procure local goods and services at more than twice the rate of chains.

• Locally-owned firms contribute more to local charities and fundraisers than do their national counterparts.

Source: Anderson Study of Retail Economics, Chicago, IL – Oct. 2004

 

AIBA Economic Impact case study

• Local merchants spend a much larger portion of total revenue on local labor to run the enterprise and sell the merchandise.

• Local merchants keep their modest profits in the local economy.

• Local merchants provide strong support to local artists and authors, creating further local economic impact.

• Development of urban sites with directly competitive chain merchants will reduce the overall vigor of the local economy.

• Modest changes in consumer spending habits can generate substantial local economic impact.

• If each household simply redirected just $100 of planned holiday spending from chain stores to locally owned merchants, the local economic impact would reach approximately $10 million.

Source: AIBA Economic Impact case study – Dec. 2002

 

The Benefits of Doing Business Locally By Jeff Milchen

• Local retailers and distributors also carry a higher percentage of locally-made goods than the chains, creating more jobs for local producers.

• Small manufacturers and a wide variety of service industries have a clear stake in the nationwide health of local retailers.

• When asked to name our favorite restaurant, cafe, or shop, we almost always cite a unique local business (look at the results in any "Best of" polls as proof). We embrace the idea of distinctive businesses with local character, but often forget their survival depends on our patronage.

• Community-based businesses are essential to charitable endeavors, frequently serving on local boards, and supporting a variety of causes.

http://reclaimdemocracy.org/independent_business/local_business_benefits.html

 

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