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During the next few months, Points North and other locally owned small, medium and large businesses serving the greater Atlanta market (particularly those located in the Stylish Northside) will provide significant reasons on why purchasing goods and services from them benefits you — the consumer.
Civic Economics' prior research has identified four ways in which locally-owned firms typically exceed that of chains: 1. Labor costs paid to local residents 2. Profits retained in the community by local residents 3. Purchase of goods and services from other local businesses 4. Charitable giving within the local community
Did you know that while National chains do provide employment to our residents, approximately only 16 percent is recirculated locally through wages paid to local employees?
The Urban Conservancy in partnership with Civic Economics, conducted among Magazine Street retailers in New Orleans showed that local retailers, when compared to leading chain competitors, generate twice the annual sales, recirculate revenue within the local economy at twice the rate, and, on a per square foot basis, have four times the economic impact. Investing in locally owned businesses could be a cost-effective way to grow our local economy too.
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