Be Aware of the Impact of Your Dollars
A locally owned independent business returns approximately 45% of each dollar spent back to the community. Local, independent businesses assist the community through a “multiplier effect”: one dollar spent at a locally owned business will return five times that amount within the community through city taxes, employees’ wages, and purchase of materials and supplies at other independent businesses. In addition, these businesses will turn that dollar back into the community through school funding, social services, and contributions to local non-profit organizations.
Chains and franchises contribute roughly 40% and at times as little as 20% of the store’s sales back into the community through employee wages, sales taxes, and property taxes. Frequently, a chain store’s location is owned by the larger non local company, and the business is given tax breaks by the city in order for shareholder profits to remain high. Locally owned independent businesses do not receive such benefits and thus contribute a far greater proportion of revenues to local taxes.
Choice makes for a richer community
Local, independent businesses are located all over greater Corvallis. You can grab an espresso to go, pick up locally grown produce or freshly baked bread, shop for unique gifts or household items, or choose a good book for a day at the beach. You can get your hair cut, have your taxes prepared, or apply for a mortgage at your friendly community bank or credit union.
These businesses add to the character that is Corvallis, contributing more than just goods and services. They offer personalized attention, add diversity to our shopping options, and bring life to historic buildings. And they pay their employees—and local taxes—with the income they receive. Each time you choose to spend your dollars at a local, independent business, you are voting for the continued strength and vitality of our community.