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Calculate Your Own Local Economic Impact

[ 0 ] Aug. 8, 2011 | SBO Editor

The national small business movement Independent We Stand unveiled a new online calculator to show U.S. consumers the economic impact they create in their communities when they spend their dollars at locally owned businesses.

The calculator, found at IndependentWeStand.org/spend_local, shows the direct impact on the local economy possible if each family spent just $10 each month with a locally owned business instead of at a national chain.

As an example, shifting just $10 each month to an independently owned store by every family in the Birmingham, Ala. area would deliver $36,352,718 back to the Birmingham economy by way of payroll taxes and local expenditures. This leads to better schools, better roads and more support for other civic necessities such as police departments.

The metro area impact figures are based on the Civic Economics Andersonville Study of Retail Economics, which found that when you spend $100 at an independent business, $68 returns to the local economy versus $43 when spent with a national chain.

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Category: Features