Localizing the Economy

Communities thrive when people invest in them.

By investing in sustainable, local economic development, we can foster local innovation and keep dollars from leaking out of our community. When we buy local, we support our friends, neighbors, colleagues, and others who make up the local economy. And we encourage a multiplier effect that ripples well beyond the target business and keeps money circulating in the community, meaning that as many as 10–12 different people can benefit locally from a single purchase.

Did You Know...

• Between 2005 and 2010, the number of Independent Business Alliances and Local First groups in the United States jumped from 30 to 143.
• Sales for independent businesses in cities without a Buy Local First initiative increased only 2.1 percent in 2010, whereas sales for independent businesses in cities with a Buy Local First initiative increased 5.6 percent.
• Institutional purchasers—including schools, private companies, and government agencies—represent tremendous purchasing power. Each year, state and local governments spend more than $400 billion, and colleges and universities spend more than $300 billion, on products and services.