The 3/50 project – saving your local economy

Today I was reading a trade magazine that had an article about the 3/50 project. This project was started by an independent retail owner who decided to take this economy into her own hands. The 3/50 project is devoted to help consumers understand the importance of continuing to shop with their local business.

I found one statistic that she gathered very interesting. Did you know that $100 spent with local business returns $68.00 to the local community through taxes, payroll and other expenditures? Interestingly, if you spend that same $100 with a big box chain, only $43.00 stays in your community. If you order on line, NOTHING comes home to your community…those dollars are going somewhere else!!

Additionally, if local consumers spent $50 each month in locally owned stores, their purchases would generate $42,629,700,000 in revenue….that is a lot of revenue from employed workers. (U.S. Department Labor/Bureau of Labor Statistics 2/6/09). Wow! Think what that would do for the State of Michigan.

Before buying on line or going to your local big box chain, check out your locally owned hardware store, carpet store, florist, etc., and in my case, your local wedding invitation and party invitation source.

Have a great week!