Keep Our Money Local (Most of it, at least!)

localworks-pie-chart-economy

Spending locally helps to recycle dollars in a city’s or region’s local economy. The benefits include stabilization for locally owned businesses, continuity in employment, more jobs, community pride and a sense of unity. We should do everything in our power to keep our money local.

A Local Works! study in West Michigan showed that shifting ten percent to local spending created a huge impact to an area. Additionally, it showed that when we spend $100 locally, $73 stays in the community as opposed to only $43 when we spend with non-local businesses. (see pie chart below) See the executive summary or complete study by Civic Economics.

localworks-pie-chart-economy

 

The study also revealed millions of dollars in local activity, 1,600 new jobs, and millions in new wages. These numbers are tough to argue with. However, many are against establishing local first programs because they believe it will disenfranchise vendors and prevent competition in business. Michael H. Shuman, author of Going Local, refutes those claims best:

“Going local does not mean walling off the outside world. It means nurturing locally owned businesses which use local resources sustainably, employ local workers at decent wages and serve primarily local consumers. It means becoming more self-sufficient and less dependent on imports. Control moves from the boardrooms of distant corporations and back into the community where it belongs.”

Any local city’s government has a responsibility to its constituents first, the residents and the business community within its boundaries. Initiating a Local First – Pompano First – campaign will help our local economy, support our locally owned businesses, sustain and grow local employment resources and help our community. In order for it to work, we will need participation from our residents, local businesses, and our local city government and its procurement department.


About the Author

Whitney Rawls

Candidate for Pompano Beach District 4 Commissioner. Advocate for social and economic justice and equality, youth and family services.

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Whitney RawlsKeep Our Money Local (Most of it, at least!)

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