News

City Creates Alliance to Build Local Business

Monday, February 08, 2010

Over the last eighteen months, the City of Prescott has received a steady stream of encouragement, reports and positive statistics on the high impact benefits of purchasing locally. Studies have shown that spending with Arizona-owned businesses creates additional jobs and keeps more dollars circulating in the local economy. Prescott's Mayor and Council believe in supporting local businesses whenever possible and have created a new alliance with Local First Arizona that will generate more opportunities for Prescott area businesses to strut their stuff in front of a statewide audience. Jane Bristol, Director of Economic Development, is implementing this new alliance with Local First Arizona (LFA).

Through Bristol's leadership, funds have been set aside to partially pay for membership dues for Prescott area businesses to join Local First Arizona for a limited time. Membership includes directory listings on the LFA website that receives over 12,000 unique visitors per month who are searching for things to do and places to see around the state. Additionally, members receive benefits such as discounts on supplies and a place on the newly developed LFA iPhone application that allows travelers to find local spots within a 5 mile radius of where they are standing, no matter what city or town they've stumbled into. "I hope our alliance with LFA will help our businesses gain statewide exposure and take advantage of all the benefits of LFA membership. Raising awareness of the impact of local business on our economy is the goal," said Bristol.

Local First director Kimber Lanning says she is thrilled to be able to highlight Prescott "Stay-cations" in their newsletters, which go out to almost 5000 people living in Phoenix and Tucson. "Studies have shown that the economic impact of supporting locally owned businesses is significant. In fact, for every $100 spent at a locally owned Prescott business, roughly $45 will remain here. While for the same $100 spent in any national chain only $13 remains. We know this is a sure-fire way for people to link arms and help with the economic recovery for Arizona," Lanning says. "And, people come to Prescott to have a unique experience and we want to help them connect." Bristol added, "Our association with LFA should make membership affordable to the smallest of businesses in every industry segment."

Look for a statewide campaign, called The 10% Shift, which LFA will launch later this spring. Lanning cites a study done in Grand Rapids in 2008 that shows shifting 10% of total consumer spending will not only increase dollars circulating locally but will also create jobs and new local wages. She hopes to see Prescott shifting and thriving by the end of the year.

About Local First Arizona

Founded in 2003 by Director Kimber Lanning, Local First Arizona (LFA) is the largest alliance of independent businesses in the country, working to strengthen communities and local economies through supporting, maintaining, and celebrating locally owned businesses throughout the state of Arizona. With over 1700 members, LFA educates citizens, stakeholders, business leaders, and legislators about the significant environmental, economic, and cultural benefits of strong local economies.
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