Local First Lexington members pose with Mayor Linda Gorton during a proclamation of “Independents Week” in July. Photo furnished
In 2008, green “I Buy Local!” bumper stickers began to crop up around Central Kentucky. This short exclamation was conceived to be more than a slogan – it’s an economic promise that crosses socioeconomic, political and cultural differences.
This holiday season, buying local is more than a trusted route to the most unique gifts for your loved ones. It’s also a vote of confidence in Lexington.
Local First Lexington – the nonprofit alliance that began with the “I Buy Local!” campaign – aims to amplify that confidence. We work to help the Bluegrass remain a diverse destination with a healthy economy. Our membership includes large and small independent businesses and nonprofit organizations from Lexington and surrounding counties. Our members add to local flavor and spread the word about the significant economic and cultural contributions that local businesses make to our community.
Consumers don’t have to completely swear off shopping online or at national chain stores to make a difference. But they can, and should, look for ways to integrate their love of Lexington in gift-buying decisions. Shoppers shifting even one or two purchases to independent, community-based businesses this holiday season would create dramatic, positive change in our community.
One of the biggest economic impacts of buying from locally owned businesses is known as the “multiplier effect.” Studies show that for every $100 spent at a national chain, on average just $15 remains in the community, as profits go to out-of-state corporations. But when that money is spent at a local business, $45 remains right here – three times as much.Spending money at locally owned merchants, restaurants and service providers keeps money circulating closer to home. As those businesses and their employees, in turn, spend your money locally, all of us benefit.
Local independent businesses also help our economy by employing workers both on and off the sales floor. They are more likely to bank and source locally, plus employ local services like accountants, graphic designers, sign-makers, webmasters and other skilled positions. Big chain stores or restaurants, in contrast, typically use a minimum of local goods and services. And profits are exported to corporate headquarters.
Another benefit of buying local is nurturing community. Local business owners know their customers. Studies have shown that local businesses donate to community causes at more than twice the rate of national chains, which is very important to kids’ sports teams and local charities.
Local First Lexington has a new edition of our print member directory in time for your holiday shopping. You can find copies at member businesses and nonprofits around town – including at VisitLEX’s Visitor Center in the restored Old Courthouse on Main Street. We also have an online directory at www.localfirstlexington.com, and you can email us at info@localfirstlexington.com for print copies. Our members are locally owned, independently managed and invested in our Bluegrass community.
As big box stores and other national chains sell identical products and services across the country, local businesses cater to the specific needs and diverse preferences of our local community. Do yourself, your loved ones and our community a favor this year by shifting a bit more spending to our local merchants, service providers, artists and nonprofit organizations. You’ll find that being able to say “I Buy Local!” is rewarding for you and the place you call home.