Yes, it’s cool to buy local. Yes it’s trendy. And yes, your children will be deeply embarrassed if you bring home locally manufactured hemp sneakers instead of Air Jordans. But did you know supporting local commerce also has a powerful knock-on effect for Louisville’s economic infrastructure?
Independent local businesses employ a wide range of supporting services, circulating and re-circulating money throughout the economy. You name it, from butchers and bakers to cobblers and candlestick-makers, when you spend a dollar at a locally owned store or with a locally owned service, the Multiplier effect means that dollar you spent becomes three dollars.
Mathematical Proof (Sort of)
Studies have shown that for every $100 spent at a “non-local” business (a chain store, for example), $13 remains in the community. When you spend that hundred bucks at a “real” local store, $45 stays here in Louisville.
How Much Does Louisville Love Local?
Citizens of this great city are so crazy about their local businesses that a few of them got together to create the Buy Local First Fair, happening this Sunday at the Louisville Water Tower. Admission is free and the event will host a variety of local businesses, musicians, artist and craftsmen, breweries, coffee houses, chefs, community organizers, and farmers (more than 140 booths). How’s that for lovin’ local?