Local Solar Power Economic Impact
By Nathaniel Allen
It is easy to forget the importance of hiring local companies. As many people gravitate to big box retailers like Home Depot or national service companies like Solar City, we seem to forget small businesses in the United States are fundamental to our economic prosperity. According to the Small Business Administration, “64% of the net new jobs created between 1993 and 2011 (or 11.8 million of the 18.5 million net new jobs)” were from small businesses. Supporting small businesses is important for job growth, especially now as many of us are underemployed locally.
Supporting small businesses is critical for local economies. As a small business owner, I choose where I source my paper, electrical supplies, or even coffee for the office. If I order my office supplies from Staples online, where is my money going? Questions like this are not asked enough. According to a 2008 Study by Civic Economics and Local First, 68% of dollars spent at local companies stay in the community compared to only 43% staying in the community when you spend money on a national company (Civic Economics, 2008).
With all this in mind, here is Allterra Solar’s economic impact report for the first 6-months of 2013:
Allterra Solar’s Economic Impact 1/1/13 to 6/30/13
- Payroll to Local Staff: $465,669
- Money Spent at Local Businesses: $146,828
Allterra Solar spent $612,497 locally in the first half of 2013. Allterra Solar helps homeowners save money on electricity with $0 down solar purchase programs in partnership with local credit unions. Lets build local vibrant economies one region at a time; lets start it here in the Monterey Bay with Local Solar Power.