Sole presentation worthington 2 8-2012

Support Our Local Economy

Presentation for Sustainable WorthingtonOld Worthington Library

February 8, 2012

Panel Members Chuck Lynd, Simply Living

Alex Rider, SBBMatt Shad, ECDI

Lauren Edwards, Local Matters

Join the Local Economy Movement! Buy Local Eat (& Farm) Local Bank (& Invest) Local Build Local Play Local Indie Media & Arts Learn Local All to build strong local

neighborhoods and communities!

Support Our Local Economy (SOLE)

The SOLE Coalition SBB

ECDI Kemba

Local Matters Simply Living

Business Alliance for Local Living

Economies (BALLE)

Independent Locally-Owned Businesses

OUR VISION We envision a thriving

local economy that functions in harmony with local ecosystems to meet the basic needs of all people, support just and democratic processes, and foster joyful community life.

THE SOLE MISSION>> Provide services to support, maintain, and encourage locally owned, independent businesses that create stable jobs and a vibrant local economy;

>> Educate, network with and involve Central Ohio citizens, to support our local economy and provide services that engage and encourage their participation

What happened to our economy from 1960-2010?

> Decline in manufacturing AND > Increase in nonlocal businesses

What are the economic effects of making less and consuming more?

> Per Capita Income Declines...as higher paying jobs are

replaced with lower wage jobs

What are the economic effects of making less and consuming more?

> Local Economies Decline ...as nonlocal businesses displace many local businesses

What are the economic effects of making less and consuming more?

> Local economic multiplier effect declines … as more $$ leak out of the local economy

How has the shift from small farms to agribusiness affected our local economy?

> 100 years ago, 40 cents of every dollar went directly to the farmer > today, only 7 cents goes directly to the farmer

How has globalization of finance capitalism affected investment in our local economy?

> US savings ~ 26 trillion dollars (Cds, IRAs, Mutual funds, Pension funds, Insurance deposits, etc) > Investments now global, not local

Fixing the Future (rebuilding the local economy) > Bellingham WA > Local Economy ~ 85% vs 15% nonlocal

Michael Shuman, BALLE Research Director (speaking at a Green Summit for a Main Street Business Conference)