We hear it all the time. Shop local... Buy local. But why is it so important? In tonight's Economy Rockford report... A local expert explains the impact our dollar has on the Rockford community.
23 news Economic development expert Einar Forsman says the best way to get the most bang for our buck... Is right here in our own community.
Forsman says 67 cents of ever dollar spent at local businesses is filtered back into the community.
This is revenue used to create and attract new job opportunities.
Forsman has seen an increase in shoppers choosing to spend locally especially since it creates a trickle down effect for other establishments connected to our purchase.
Forsman adds if one store suffers financially it is likely many others will follow.
"Consumer spending generates sales tax money which not only helps local governments helps fund our roads and bridge programs it helps reinvest money in the community so anything you can do to help the retail the dining establishments give them business they need to help have a strong offering in our community make us a regional destination all of those are important in keeping our strong economy going stronger."
Forsman says revenue generated from the one percent sales tax adds up to 25 million dollars a year for our local economy.