by Middagh Goodwin
Modesto’s population is approximately 204,933, it is the 18th largest city in California. What does that ultimately mean? There are a lot of people living in and around Modesto.
Statistics show that about 68% of what is spent locally is reinvested in the community. Remember that statistic. Independent retailers return back into the community more than three times as much money per dollar of sales than chain competitors.
How can we grow our local economy?
What I am suggesting is if we all just switch our spending, even just a little it will add up to a huge impact. $5 a month the price of a cup of coffee at one of those corporate cafes is all I am talking about. That minute amount adds up in a very large way.
Everyone has to eat; we all have different tastes and opinions on what it is but we all like food and some love it. But not everyone that lives in Modesto is in a position to spend $60 a year on the going out to dinner. Let us remove the very young and old and the unemployed that is somewhere around 40% of Modesto’s population. Let us for good measure and to make it easier round that number up to 50%.
50% is 102,466. That is still a large number of people. If each of us spends just an average of $5 a month at local Cafes, Diners, and Restaurants, that amount adds up to $512,382.50 a month. In a years time, that comes to $6,147,990.00. What a generous amount of money to give to invest back in our City. You get a great night out or relaxing lunch. Value for your expenditure.
Remember I told you to not forget about that statistic of 68%? Those local businesses you are supporting spend a significant amount of that back locally in your shops and restaurants. employee your friends and family. That is an extra 4,180,633.20 going back into the local economy.
The Holiday Season is coming up, Gift Certificates to places that host Live Music make fantastic gifts. Pledge to go out and support your Community not just now but all through the year. Together we can make an incredible impact.
