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Buying local means more money stays in your community

  • March 11th, 2010 12:01 pm CT

Shopping at local businesses keeps more money in your community.

Think about your favorite local businesses in and around Oklahoma City.  One might be a locally-owned restaurant where you go to eat every week.  Another might be a shop you go to when you need a special gift.  Still another might be a local plumber or electrician or carpenter that you call on for repairs.

Now think about what would happen if all of these suddenly disappeared.

When you shop at local stores and use locally-owned and run services, you not only help keep these businesses afloat, you support the local economy.  According to The 3/50 Project, a program created to encourage support of local businesses, for every $100 you spend in a locally-owned, independent store, $68 of that comes back to your community in the way of taxes, payroll, and other expenditures.  When you shop at a national chain, only $43 comes back.  And shopping online, while convenient, adds nothing to the local economy.

The 3/50 Project's premise is simple:

  • Think of your three favorite local businesses and shops.
  • Commit to spending at least $50 per month with one of those businesses, or divide the $50 among all three.

According to the U.S. Bureau of Labor, if just half of the employed population in the U.S. spent $50 every month with their local businesses, they would generate more than $42.6 billion in local revenue.  And in tough economic times, adding to local revenue is a huge plus to local economic health.

In addition to the economic benefits, shopping at locally-owned businesses offers others.  Often you receive better service because such places really want to keep you as a customer.  Independent businesses tend to go that extra mile to track down something you really want or give you a good deal because they truly value your patronage.  Some even emphasize the sale of locally-made goods, another asset to the economy.

The 3/50 Project's newest promotion targets locally-owned restaurantsEat Down the Street asks you to commit to eating once a week at a locally-owned cafe, coffee shop, bistro, diner, and other such places that make our Oklahoma City neighborhoods great.

Another great way to shop local is to frequent one of the many farmers markets that will soon be popping up as spring gets into full swing.  Locally-grown produce has a much smaller environmental footprint than imported fruits and vegetables, and most of the time the local stuff tastes better too.

For more info: Visit The 3/50 Project's Web site here.  For a list of farmers markets around the state of Oklahoma, click here.

To view more OKC Healthy Living articles, including Local runs and rides, click here.

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