Daily Archives: November 24, 2008
[Source: Local First Arizona] — As consumers head out to do their holiday shopping this year, Phoenix residents are encouraged to “keep your money where your home is.” Consumers can make a significant impact on the local economy simply by choosing to spend their dollars locally. Studies have shown that money spent in locally-owned businesses re-circulates in the local economy up to three times more than dollars spent elsewhere. “Consumers can make simple choices that will affect the long-term health of the city,” says Kimber Lanning, executive director of Local First Arizona who oversees the coalition of over 1,500 Arizona businesses.
A recent study conducted in Grand Rapids, MI revealed that a modest change in consumer behavior — a mere 10% shift in market share to independent businesses — would result in 1,600 new jobs, $53 more million in wages, and a $137 million economic impact to the area. Lanning also reminds customers to shop around for the best deals. “Many people mistakenly assume local businesses are more expensive, but that is not always the case.”
City of Phoenix leaders are asking Phoenix residents to support local businesses as much as possible, but especially December 8-14 when holiday shopping and dining will be in full swing. “Local businesses throughout Phoenix have been an important part of the City’s economic development and in these challenging economic times, we ask our residents to make buying decisions that can have a greater positive impact where they live,” said Phoenix Mayor Phil Gordon.
A press conference is scheduled for Tuesday, December 2 at 10:30 a.m. at the Central and Washington Street light rail stop. Mayor Gordon will be joined by City Council members for the proclamation announcement. To recognize and help rally local businesses that are the backbone of the economy, Council members will wear or bring an item to the press conference purchased at a local business in their district. For more information, visit the Local First Arizona website.