Buy Into It! (Or How to Stimulate the Economy 101)

This just in . . . Buying Local is the New Stimulus Package . . .

Bob Quick | The New Mexican

3/10/2009 - 3/11/09

What supporters hope will be Santa Fe's own economic-stimulus program kicked off on a windy Tuesday afternoon on the Plaza with a simple message: Buy local.

Backed by local media businesses, including Hutton Broadcasting, The Santa Fe New Mexican, the Santa Fe Reporter and Journal Santa Fe, as well as such commercial organizations as the Santa Fe Alliance and the Santa Fe Chamber of Commerce, the campaign is meant to bolster Santa Fe firms coping with a faltering economy.

..."Every purchase made locally means 45 percent of that amount stays in the community," she said, "while if you buy at a big-box store" based out of state, "only 13 percent of the purchase price stays in the community."

She concluded her remarks with the exhortation to "buy local, eat local, hire local."

A local purchase increases the number of times that dollars circulate in the local economy, multiplying their reach and impact and increasing overall demand, according to Kate Noble, of the city's Economic Development Division.
Read the whole article here: http://www.santafenewmexican.com/SantaFeNorthernNM/Keeping-Santa-Fe-afloat