Guest column: Spending outside region doesn’t help local economy
By Debra Rosen
In a challenging economic climate, prosperity depends more on the growth of the regional businesses, and less on the growth of national or even international economies.
A community’s sustainable growth is strongly dependent on sales tax revenues that come from the local business in the region.
In other words, money spent here stays here!
In order to continue building vibrant communities in a challenging economic climate, it is imperative that all of us, individuals and businesses, make a strong effort to buy local.
Local businesses are critical to regional prosperity as they anchor infrastructure investment and support the local tax base. Thus, it is crucial that we stop outsourcing our purchases and make sure that dollars are recycled back into the community. This adds value by increasing the tax revenues that go back into the communities, creating more jobs, and increasing local investment.
Businesses, community and government must be willing and able to work with one another. Doing business with local businesses is a winning situation for all involved.
It is time to stop sending our dollars to other states and keep these dollars into our communities. It all begins with everyone looking at their spending and giving the local businesses more of a chance to earn your business.
Every day the San Diego North Chamber sees many examples of local businesses and government making large purchases outside of the region that take away from the San Diego economy. These decisions lead to a San Diego region with a weaker tax base, fewer jobs and less investment.
Business purchases outside of the San Diego Region must be minimized. We must be more aware of the negative impact we have on the region and our communities when making purchases outside of the San Diego region and begin to make every effort possible to keep money rotating within our own communities.
San Diegans must recognize the importance of supporting the local economy and get behind a “Buy Local” campaign for it to be successful. More importantly, San Diegans must want to support one another.
Simple research and a desire to support the community can lead to a substantial benefit to the region’s economy. With everyone’s support, the San Diego North Chamber of Commerce relishes the opportunity to implement a plan that will give businesses the resources they require to keep our local communities vibrant in a challenging economic climate.
The service you get from our local businesses is as important as the price and it is difficult at best to get this service when purchasing outside of the region. Quality, service and people are the true measure of business success and sometimes paying a little more for the same product and service to keep the money in our region is an investment in our future.
The San Diego North Chamber encourages local businesses, community organizations, government and citizens alike to look at where they are buying and spending their dollars. It is time to focus on building vibrant communities through stronger commerce.
Rosen is president and CEO of the San Diego North Chamber of Commerce.
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