Building Local Wealth with the BNote
A recent study in Grand Rapids, Michigan has produced some incredible figures on the enormous power of local purchasing. The key finding: A modest change in consumer behavior – a mere 10 percent shift in market share to independent businesses from chain stores – would result in 1,600 new jobs, $53 million in wages, and a $137 million economic impact to the area. .
.Check out the study (PDF): Local Works! Examining the Impact of Local Business on the West Michigan Economy
This is the kind of change we’re putting into effect with the BNote. Chain stores like Wal-Mart rob communities of the collective wealth they could be building by channeling their money back into local businesses. Wealth that builds on itself, creating new jobs and new possibilities. Wealth which could be used for community projects – gardens, playgrounds, tool-sharing, art projects, recreation centers, block parties – help our neighborhoods become more social and support us better. The effect is real, and it’s up to each of us to think local first and enable these kinds of changes here in Baltimore. .
Posted: October 4th, 2011 under Uncategorized.