The 3/50 Project: Improving Local Economies 3 Stores at a Time

July 30, 2009 in News, Subfeature

The idea is simple. Which 3 locally-owned stores would you miss the most if they went out of business? Spend a total of $50 per month in those 3 stores to contribute to their well-being. Contribute to your neighborhood’s vibrancy and help stimulate its economy.

That’s the idea behind The 3/50 Project, a grassroots campaign that attempts to get people to consider where they spend their money, and what effect it has on their community. As you might, expect, we are all for it.

According to The 3/50 Project:

“If just half the employed U.S. population spent $50 each month in independently owned businesses, their purchases
would generate more than $42.6 billion in revenue.”

 


And, much moreso than when shopping in chains, that money continues to
circulate around the local economy. We’ve said it before and we will
say it again, for every dollar you spend at a locally-owned shop, 68
cents comes back into the local economy. Compare that with 43 cents for
everything you purchase at a national chain.

So, we ask you – what 3 locally-owned businesses could you not do without? Be sure to leave us a comment, and then stop by to support them. These entrepreneurs could probably use your support now more than ever.

  • http://www.urbancincy.com David Ben

    I saw an article a while back (and for the life of me, I can’t remember where) that said a local (local wherever this was, not Cincy) company was on the verge of going out of business, so they started to give out $2 bills as change. More and more $2 bill began showing up all over the local economy, and providing a visual reminder of just how important that one place was to the local economy.
    If a local place wants to steal that idea, I wouldn’t be mad – not like it was my idea in the first place.

  • Wrench74

    I find it odd that there is an advertisement for a Texas based online merchant on this website??

  • Anonymous

    Support your local Maw and Paw shops over corporations any day. It makes me happy to hear of folks who realize this fact. Find out who represents you in your district, to further protect local businesses who can only thrive from local support. Here is a start to get to know your congressional candidates: http://chadely.com/2012/ohio/congress/ohio-districts-2012.html