Below, we have listed several of the numerous tangible and intangible benefits that the domino effect of our PURPOSE provides to our target markets. Whether it is by playing a critical role in the economic development of the economy in the cities we serve or championing and revealing local and small businesses, which is crucial to their successes, we are extremely proud to say that our purpose does make a difference.
BENEFITS TO THE RESIDENTS OF A CITY
Drive Economic Growth and Jobs.
Economic development is a critical component that drives economic growth in your economy, sustaining jobs and even creating higher-wage jobs which is a critical component to a successful economy and community.
Raise The Standard of Businesses.
Any community where businesses thrive will generate a “high tide raises all ships” effect bringing in better shops, restaurants, businesses and entertainment options for the citizens.
Create Higher Jobs and Wages.
Economic development is a critical component that drives economic growth in your economy, sustaining jobs and even creating higher-wage jobs which is a critical component to a successful economy and community.
Improved Quality of Life.
Better infrastructure and more jobs improve the economy of the region and raises the standard of living for its residents.
Unique Businesses Create Character & Prosperity.
The unique character of your community is defined in large part by the businesses that reside there. Businesses that thrive tend to attract more diverse businesses to the community. This plays a big factor in residents’ overall satisfaction with where they live and the value of their home and property.
Competition And Diversity Leads to More Consumer Choices.
A marketplace of more businesses is the best way to ensure innovation and low prices over the long-term.
BENEFITS TO THE LOCAL & SMALL BUSINESSES OF A CITY
Lend A Helping Hand to Smaller Businesses.
Generating awareness for ALL businesses promotes an environment of healthy growth in communities so that enterprises of all sizes flourish. This includes smaller businesses that may not have the resources to advertise and market themselves.
Local Economic Stimulus.
When you purchase at local businesses, more money is kept in the community because locally-owned businesses and restaurants often purchase from other local businesses, service providers, vendors, and farms.
Local Business Owners Invest in Community.
Local businesses are owned by people who live in this community, are less likely to leave, and are more invested in the community’s welfare and future.
Non-Profits Receive Greater Support.
Businesses are more accountable to their local communities and when they thrive, they donate more money to non-profits.
Job Retention and Creation.
Most new jobs are provided by local businesses. A large percentage of jobs in a community are created by existing companies that are expanding or growing. Additionally, small businesses accounted for 65% of all new jobs over the past 17 years nationwide.
Enhancement of Business-to-Business Synergies.
Local businesses are more likely to utilize other local businesses such as banks, service providers, and suppliers.
Retention, Awareness and Growth for Independent Retailers.
Independent retailers return more than three times as much money per dollar of sales to the community in which they operate than chain competitors. Independent restaurants return more than two times as much money per dollar of sales than national restaurant chains.
Supporting Your Neighbors.
Local businesses are owned and operated by your neighbors! They care about and are invested in the well-being of your community and its’ future.
Environmentally Friendly Benefits.
Supporting local businesses is good for the environment because they often have a smaller carbon footprint than larger companies. For example, the more jobs you have in your local community the less people are going to have to commute which means more time and less traffic and pollution.
BENEFITS TO THE LOCAL ECONOMY OF A CITY
Generate Additional Sales Tax for Your Community.
One of the largest sources of revenue for any municipality are funds which come from revenue generated through sales taxes. Increased spending equals increased tax revenues for municipalities.
Provide An Avenue Of Exposure That Expands The Economic Activity Within A Community.
The stronger and more diverse the economy, the stronger the community becomes. Over time, a strong economy becomes a self-sustaining engine of growth that can help bolster property values and add “curb appeal” to an entire region.
Help City Leaders Attain Their Economic Goals.
Expanding the economic activity within a community is one of the primary goals of every elected body, community Chamber of Commerce, Economic Development Corp., and business.
Increase The Amount of People Contributing to The Local Tax Base.
The more consumers that contribute to the tax base the larger your tax base becomes.
Expand The Local Tax Base.
When a tax base expands, by generating revenue from more than the residents, it means that others besides the local businesses and members within the community are sharing in the costs associated with running the community.
Maintain (Or Possibly Decrease) The Local Tax Rate.
The larger the tax base grows as a result of increased sales; the smaller the individual’s share of the tax burden becomes. This can also help stave off future tax increases. A smaller tax rate provides stability that helps communities attract both residents and entrepreneurs eager to see their business and their community grow stronger.
Increase Resident’s Discretionary Spending.
The larger the tax base, and the more that help support it, the more money left in the pockets of community residents and business owners. Increased discretionary spending is a direct correlation of consumers having more money to spend. Therefore, individuals and businesses can purchase more goods and services that sustain the community and give it a solid, steady, continued rate of growth.
Facilitate Future Growth.
A low tax rate will not hinder future potential growth in your community.
Industry Diversification.
A core part of economic development works to diversify the economy, reducing a region’s vulnerability to a single industry.
Retention of Local Dollars Spent.
Studies show that for every $100 you spend at local businesses, $68 will stay in the community.
Economy Fortification.
Economic development helps to protect the local economy from economic downturns by attracting and expanding employers.
BENEFITS TO THE INFRASTRUCTURE OF A CITY
Increased Tax Revenue for Projects & Infrastructure.
The increased presence of spending in the area translates to increased tax revenue for community projects and local infrastructure. Increased tax revenue means more money to build, maintain and enhance local roads, schools, libraries, and parks to just to name a few things that benefit.
Enhancement of Public Services.
Public services typically include schools, parks, libraries, and similar services. Municipalities often devote a major portion of sales tax proceeds to these services. Individuals use these services in their daily lives and often expect them to be available when needed. Protecting the tax base means municipalities do not have to curtail service or offerings.
Enhancement of Protective Services.
Protective services typically include a community’s police and fire departments. Sales tax revenue is needed to pay for expenses such as the labor, training, equipment, insurance, and facilities for these services. The more tax revenue there is the more municipalities can increase and enhance these services for their residents. One of the many benefits of safer communities is the appreciation of property values.