by the Institute for Local Self-Reliance and Friends of Midcoast Maine, September 2003.
Three times as much money stays in the local economy when you buy goods and services from locally owned businesses instead of large chain stores, according to this analysis, which tracked the revenue and expenditures of eight locally owned businesses in Midcoast Maine. The survey found that the businesses, with had combined sales of $5.7 million in 2002, spent 44.6 percent of their revenue within the surrounding two counties. Another 8.7 percent was spent elsewhere in the state of Maine.
The four largest components of this local spending were: wages and benefits paid to local employees; goods and services purchased from other local businesses; profits that accrued to local owners; and taxes paid to local and state government. Using a variety of sources, the analysis estimates that a national big box retailer operating in Midcoast Maine returns just 14.1 percent of its revenue to the local economy, mostly in the form of payroll. The rest leaves the state, flowing to out-of-state suppliers or back to corporate headquarters. The survey also found that the local businesses contributed more to charity than national chains.
Allagash Brewing Co. / Bayside Bowl / BENCHMARK Residential & Investment Real Estate / Bull Feeney's / Casco Bay EyeCare / Casco Bay Frames & Gallery / Clicktoast – Digital Advertising / Coffee By Design / CornerStone Building & Restoration / CrossFit Beacon / The Fish & Bone / Gorham Savings Bank / Green Clean Maine / Joan Leitzer / Teel Law Office, LLC / Lena Geraghty / Liquid Riot / Longfellow Books / Maine Business Immigration Coalition / Malone Commercial Brokers / Marsh Agency / Max Ashburn / Nine Stones / No Umbrella Media, LLC / Nomads / OTTO / Philip Spalding / Port Property Management / Portland Food Co-op / Portland Downtown / Portland Farmers’ Market / Portside Real Estate Group / Renys Department Store / Runaways Run Club / Sanctuary Tattoo / Sebago Brewing Company / Stacy Mitchell / The SunriseGuide / Tsunami Tattoo / University Credit Union / University of Southern Maine / Wellness Connection of Maine / Young’s Furniture