Buying Local: How It Boosts the Economy

A recent article in Time Magazine explains the benefits of buying locally to boost the economy.

Picture: Dave Cutler / Images.com / Corbis

"Buy Local"—you see the decal in the store window, the sign at the farmer's market, the bright, cheerful logos for Local First Arizona, Think Boise First, Our Milwaukee, and homegrown versions across the states. The apparent message is "let's-support-local-business", a kind of community boosterism. But buying close to home may be more than a feel-good, it's-worth-paying-more-for-local matter. A number of researchers and organizations are taking a closer look at how money flows, and what they're finding shows the profound economic impact of keeping money in town—and how the fate of many communities around the nation and the world increasingly depend on it.

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Think Local First (Sunshine Coast Hinterland)

Buying locally can save jobs

Local buying programs as proposed by the Australian Institute for Community Currencies Inc with its latest project the Baroon Dollar is gaining popular media attention during the current global financial crisis.

Govt can buy local to help jobs, says MP
April 21st 2009 Sydney Morning Herald
The federal government can buy locally produced goods to support Australian jobs without breaking world trade rules, Industry Minister Kim Carr says.
Senator Carr said he supported the idea of government procurement to help the nation's manufacturing industry.
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MPs encourage you to Buy Local
23rd April 2009 Berrows Journal, UK
WORCESTERSHIRE MPs have pledged to support our Buy Local campaign.
MP for Worcester Mike Foster said there were countless benefits to supporting independent traders, buying local produce and, ultimately, championing what Worcestershire has to offer.

“There are real merits in these difficult times in promoting
local shops and making sure we get out there and spend our money, keeping them in business,” he said.

“Long term it’s the way we are going to get out of this recession; we have to spend, ideally locally, to manage the impact of the downturn on this area.” Mr Foster urged local people to take advantage of what is on their doorstep and to be aware that their task to survive was no mean feat.
“The competition local shops face is another big challenge,” he said.
“People have to get out of the habit of going to one supermarket – even though those big supermarkets employ a lot of local people. There’s a balance to be struck in that.
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Business leaders backing campaign
24th April 2009 Worcester News UK
BUSINESS leaders have welcomed your Worcester News’s Buy Local scheme.
The Federation of Small Businesses (FSB) is backing our drive to support independent businesses and promote local produce.
In March 2008, in response to the House of Commons projection that 50,000 independent high street retailers will close by 2015, the FSB launched its own national campaign and online petition for local trade.
Ken Wigfield, chairman of FSB Worcestershire, said: “You only need to look at your local high street to witness the slow death of the local community. The grocers, butchers and newsagents that contributed to the lifeblood of our towns have been replaced by empty facades, fast-food joints or charity shops.”

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