One of my primary focuses after being re-elected in 2012 was to find ways to spur organic economic growth in our community. I believe strongly that developing an economy starts at the level of spending and finding a way for our community to retain a higher percentage of that spending.
The math doesn’t lie; 45% of purchases made at locally owned businesses stay in the community. An additional 9% of that expense stays in our state. That 45% compares to around only 12% with large corporate stores.
Don’t get me wrong. We need both, but I was always puzzled at the effort to simply recruit large corporate stores rather than focusing our efforts on growing the metrics in our economy to support not only the local businesses we currently have, but potentially a company looking to move in or an entrepreneur looking to get a start.
To me, it just makes sense to build a strong economy on a foundation of passionate local business owners. If you do that you are able to focus on the quality of economic growth and the quality of life that comes with organic growth.
At the end of the day, we live in a analytical world. If you build a strong economy folks will want to be a part of that. The numbers are what they are, and it’s difficult to convince a business or business leader to open or move a business into an environment that does not support their effort.
This focus is starting to pay off. As the Chairman and five year member of the Tourism and Community Development Commission, I have played a critical role in shifting the focus on this organic economic development.
We have done this by creating a strategy that focuses on strengthening our current tax structures, primarily sales tax. We are doing this with programs like “Eat, Shop, Stay Manchester”, digital marketing, interstate billboard campaigns and by recruiting events to our community. We are still working on efforts to recruit even more events, invest into facilities and also notify the business community of potential surges in customers as a result of events.
Read the rest @: vote-french-2016 | Manchester’s Economy is Growing, FAST!
Source: vote-french-2016 | Manchester’s Economy is Growing, FAST!