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 Comcast, 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).
To put this in perspective, Allterra evaluated its 2014 expenses to date to determine how much was invested in our local economy. All told, Allterra invested nearly $0.975 Million into the local economy through staff payrolls and expenses to local suppliers, vendors, and subcontractors.
January 1st to June 30, 2014 – Local Economic Impact
Payroll to Local Staff: $693,901.45
Money Spent at Local Businesses: $281,297.92
Allterra Solar spent $0.975 Million locally so far in 2014 and is on pace to spend $1.8 million by the end of 2014. Small local businesses are integral to our community’s economy and job market.
Allterra Solar helps homeowners and businesses save money on electricity by installing solar electricity systems with $0 down solar purchase programs. Support local solar power and keep our money in the community. If you own a house and live in Santa Cruz, Monterey, or Silicon Valley call us and request a free site assessment. Take charge of your energy future.
