Only Locos don’t buy Local.

 

“A 2003 case study of Midcoast Maine covering several lines of goods and services validated these findings. In Maine eight locally owned businesses were surveyed. The survey found that the businesses spent 44.6 percent of their revenue within the surrounding two counties. Another 8.7 percent was spent elsewhere in the state of Maine. The four largest components of this local spending were: wages and benefits paid to local employees; goods and services purchased from other local businesses; profits that accrued to local owners and taxes paid to local and state government. All eight businesses banked locally, used local accountants, advertised in local businesses publications, purchased inventory from local manufacturers, and used local Internet service providers and repair people. The study estimated that a big box retailer returns just 14.1 percent of its revenue to the local economy, mostly in the form of payroll. The rest leaves the state, flowing to out-of-state suppliers and back to corporate headquarters. (The Economic Impact of Locally Owned Business vs. Chains: A Case Study in Midcoast Maine – New Rules Project, September 2003.) “-from boulderCountygoinglocal.com

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