INC NEWS - Businesses, personal preferences

[Laura Drey]

Hi folks,

I hope that it is okay to send out this list, but I thought that people
might like to support these community stores for holiday shopping.

I want to encourage Triangle residents to support local, independent
businesses. My wish is people will start developing new shopping patterns.
Shopping independents helps boost our economy. In 2004 Tom Campbell,
co-owner of the Regulator Bookshop, told me that ³for every $100 you spend
at the Regulator Bookshop [and other independent bookstores] $45 stays
local. For every $100 you spend at a chain bookstore $13 stays local. For
every $100 you spend through a catalogue nothing stays local.² The study
Campbell cited was completed by Civic Economics. Campbell continued, ³while
the numbers may be slightly different, the patterns remain true for all
locally owned businesses.²

Reyn Bowman, President of the Durham Convention and Visitor¹s Bureau, says
³local in an economic sense would need to be by county vs. Triangle.  Each
of the counties that together make what we call the Triangle have difference
input-output factors. These factors are what we use to determine economic
impact and leakage...The Durham Visitor and Convention Bureau measures that
for all 3000 plus visitor-related organizations as an aggregate in 2007, on
the average Durham reaps 70% of the spending and 30% ricochets outside the
community in what is termed ³import leakage.²
 
Just as an example, Reyn sent me in November 2008 ³a diagram of Durham
visitor commerce.  What makes buying locally in Durham so powerful is that
you cut down on leakage. Same reason it makes more economic impact to hire
locally and use local vendors.²

http://www.dcvb-nc.com/cr/impact_w-leakage.pdf



Feel free to spread the word. Thank you!

Laura

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