“Economic Stimulus” campaign launched this week by Glenwood Chamber!
By Scott Formo
What do the word’s “Economic Stimulus” mean to you? Does it mean watching your mailbox for the “Cash Back” check from the government? Does it mean that you were one who took advantage of the “Cash for Clunkers” program a few years ago? Does it mean trying to understand the logistics and unforeseen outcomes of federal legislation? Or does it mean that you are watching the 2012 candidates more closely to see whose plan might just work to improve our nation’s economy?
Some would say that government spending does boost the economy, while others insist that government spending to boost aggregate demand is a superstition. I won’t share my opinion on the subject, but will share this… Traditionally, locally owned and operated businesses reinvest 68% of their revenue in the local economy. In contrast, statistics would show that traditionally $43 of every hundred dollars spent at a national chain goes back into the local community, with very little, if anything, going back into the local community for online purchases.
How does a local business owner/operator contribute to the local economy you may ask? This can be done in several different ways, including taxes, employment, business-to-business sales/collaborations, and even donations. Here in Pope County
In my opinion, I feel that our local economy would benefit greatly from a local economic stimulus package – primarily, by promoting local spending, while allowing businesses to thank their customers for the positive impact that decision has on the local economy. While this seems like a simple concept, it is not as easy as it looks to launch such a campaign. The Chamber has long promoted the “Shop Locally” promotion, which dealt primarily with local Glenwood retailers, but needed a concept that would appeal to ALL Chamber members, regardless of who they were, what they did, or where they were located at.
With this in mind, the Glenwood Lakes Area Chamber has worked with local area business leaders to revamp the former "Shop Locally" campaigns of the Chamber into a "Keep It Local" campaign, encompassing everything from shopping, employment, donations, investments, recreation, living, etc. ~ as seen in the tagline: "Work, Shop, Live, & Play" which is directly from the Chamber mission statement.
Very soon, Chamber members will be receiving window static clings (similar in size and shape to our Chamber Member window decals) to proudly display as their support for the campaign and to say "Thanks" to those that remember to "Keep It Local" when spending money. No matter who you are, what you do, or when you do it, YOU can make a difference in strengthening our local economy – and I’m not referring to tax increases to balance budgets. By making a concerted effort to spend extra money locally, you not only keep businesses alive, but also help spread the wealth and help our community survive.
The “Keep it Local” campaign is geared to be of value for all businesses, by reminding people everywhere they go, that spending locally DOES make a difference. Whether it’s eating out, getting groceries, making a donation, or employment related, every single dollar makes a difference. I encourage everyone who reads this article to make it a point to say “Thanks” to the local businesses that display and advertise with the “Keep it Local” logo, whether they are in Glenwood, Starbuck, Alex, etc. By working together and spending just a little more this week locally, and making a habit of it in the weeks to come, the area will become stronger and our local economy will again begin to flourish.
Please help to spread the word and “Keep it Local” in as much as you can do every single day from this point forward – and create our own “Economic Stimulus” package. Don’t forget to thank those that work to promote the logo and concept, as we all need to do our parts to make it work. Help spread the word and have a great holiday kick-off this week! Until next week…
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