Growing Local Economies

Growing Local Economies builds on the existing resources within communities to improve their economic situations. Specific resources include current businesses, local people and their knowledge and skills, and supports for economic development like education, training, infrastructure, and policies.

This project specifically focuses on the power of locally owned, import-replacing businesses, a philosophy called LOIS. Local ownership matters because:

•  Local businesses spend more money locally.
• Businesses anchored locally produce wealth for many years, often many generations.
• Communities can raise labor and environmental standards with confidence that its businesses will adapt rather than leave the community.
• It promotes smart growth and walkable communities, draws in tourists through unique stores and attractions, and retains talented young people who could open businesses of their own.
• Local business economies tend to have more social stability, lower levels of welfare, and greater political participation.