Local spending comes back over and over again

[eridani]

http://www.peoriatimes.com/news/article_de77c75e-3dac-11e3-a8b2-001a4bcf887a.html

We pull for the local high school team. We congratulate the kid next door for his full-ride scholarship to the local university. We drop our kids off at the local elementary school. We take our vehicles to the local repair shop. We take our daily walks around our local neighborhoods.

Why, then, do we insist on shopping for big-ticket items, or even the smaller things, at big chain stores? Do we really get that big a deal in the long term?

Not at all, said Kimber Lanning, founder and CEO of Local First Arizona. Lanning spoke at the Peoria Economic Development Advisory Board meeting two weeks ago about the difference between shopping local and shopping national chains. If you think you’re saving money at the big box stores, sure, in the short term. But, if you’re thinking of creating more jobs locally and seeing your money come back in spades to the local economy, there is only one good way to do it, and that is, shop local first.

It has been proven over the years that 80 percent of our nation’s economy is bolstered by small businesses. Per $10 million in sales, jobs created through Internet sales giant Amazon produced just 14 jobs. Chain retailers were even more at 50 jobs. But to put all of that in perspective, for every $10 million sales, independent retailers created 110 jobs. That’s according to Civic Economics magazine.

As Lanning said in her presentation, “Money does not spend the same.”

She said that for every $100 spent in a local business, $45 recirculates and stays right in the community. For the same $100 spent in any national chain, only $13 remains.

[Warpy]

1. That's why I bought my new fridge from a local company

that's been owned by the same family for years. I might have saved a few bucks at Lowe's but it wasn't worth it. I'd rather keep the money I drop right here in town. This is a poor state and it needs all the help it can get.

[monmouth3]

2. Not only that but if you have a problem with your new fridge, you can bet your local business owner

will be there to solve your problem. I shop the same way. Local is not only the buying of goods but building community camaraderie..