In 2017, according to Census data, state and local governments collectively spent about $3.7 trillion. Increasing the flow of these trillions toward local businesses in the post-COVID era could generate enormous boosts in local income, wealth, and jobs. Moreover, this stimulus would cost your state nothing—in fact, it would probably save billions of public dollars.
GO LOCAL First asks you to think about the many advantages of choosing local first. Locally owned businesses provide more jobs, support more local non-profits and provide our local flavor, character and personality.
By supporting local retailers, local residents and officials can create a healthier, more sustainable community.
The Local Economic Multiplier Effect is a very valuable feature of our economy. The term refers to how many times dollars are recirculated within a local economy before leaving through the purchase of an import.
Resident consumption controls 70% of the economy. Buying local packs a powerful force for economic good.
According to a 2011 analysis conducted by Sonoma State University, buying Sonoma County products from Oliver's Market benefits the Sonoma County economy TWICE as much as buying national brands from chain stores.
An annual survey has found that independent businesses experienced solid revenue growth in 2012, buoyed in part by “buy local first” initiatives and growing public interest in supporting locally owned businesses.
Study after study has indicated the economic benefits to a local community when residents choose local businesses for purchases. It's called the economic multiplier effect. By choosing local first, the economic multiplier kicks in and we return $25 more of every $100 spent to recirculate in our local economy.
Learn about Sonoma County's Bank Local certified banks and credit unions with our Better Know profiles.
Local banks and credit unions play an important role in our local economy that increases the impact of the shift.
24 results found