Statewide economic recovery is going to take each and every one of us spending locally whenever possible. We will take your generous contribution of any amount and build campaigns that will encourage everyone in the Greater Newark area to shift 10% of their spending from national to local businesses.
The 10% Shift campaign will create a more LOCALLY focused consumer base, that will result in bringing in more customers and businesses to our community.
Did you know that spending $100 at a LOCAL independent business creates $68 in additional local economic activity, while spending $100 at a chain produces only $43 worth of local impact?
The difference was due to four factors:
- Local Payroll—The locally owned businesses spent a larger share of their revenue on local labor (29 vs. 23 percent), because they carried out all management functions on-site, rather than at corporate headquarters.
- Procurement—The local retailers spent more than twice as much buying goods and services from other local businesses. They banked locally; hired local accountants, attorneys, designers, and other professionals; advertised in local media; and sourced inventory from local firms.
- Profits—Because their owners live in the area, a larger portion of the local retailers’ profits stayed within the local economy.
- Charitable giving—The local retailers donated more on average to local charities and community organizations than the chains did