Local Shops Build Healthy Economies

Chicago business district releases impact study and policy proposals.
October 25, 2004, 6am PDT | Abhijeet Chavan | @legalaidtech
Share Tweet LinkedIn Email Comments

Chicago's Andersonville, a traditional urban district on the north side, presents economic impact findings, consumer survey results, and policy recommendations in defense of its unique character.

"For every $100 spent in 10 locally owned shops studied there, $73 stayed in Chicago's economy. For every $100 spent in a chain with comparable products, $43 appeared to stay, according to the study by Civic Economics, a firm that penned an often-cited 2002 report comparing a chain to a local bookstore in Austin, Texas. The Chicago study found that money spent in local stores stayed local because employees were paid more, owners used more local goods and services for their businesses and contributed more to local charities."

Thanks to Dan Houston

Full Story:
Published on Sunday, October 24, 2004 in Chicago Sun-Times
Share Tweet LinkedIn Email