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This was also around the time that I moved from San Francisco to Washington, and began working at the Institute for Policy Studies—first as a visiting fellow, then as a paid fellow, and then as director for six years. What do you see as the potential of the localist movement going forward? We found that this shift would generate 27,000 new jobs, $250 million more of tax revenues, and nearly $1 billion more in wages. It turns out that even a very modest shift generates a huge number of jobs. Let me mention just two that cost little or nothing:  move your city’s banking to a local bank or credit union; and overhaul procurement, so it results in the fair reward of municipal contracts to local businesses. The company can then buy back that equity by paying a royalty payment on gross revenues over several years. We published a Bulletin of Municipal Foreign Policy, which went to thousands of local elected officials across the United States, and showed how cities were promoting peace through nuclear-free zones, fighting apartheid in South Africa through divestment campaigns, and opposing the Contras’ war through Nicaraguan sister cities. At a time when nearly all rural communities were losing jobs because of the recession, Hardwick had created 100 new jobs. There is no question that the localization movement has made huge strides. They also promote locally owned businesses that increase local self-reliance and evince high labor and environmental standards. Empty my basket and order this item instead. Lots of people with diverse political perspectives are thinking about more ways to support businesses in their community. He teaches economic development at Simon Fraser University in Vancouver. Michael H. Shuman is an economist, attorney, author, and entrepreneur, and a globally recognized expert on community economics. The more, city by city, we reorganize economic development around pollinator models, the more we will be able to carry out the right kind economic development, focused on local businesses, without depending on unreliable streams of government or foundation money. Let me mention just two that cost little or nothing:  move your city’s banking to a local bank or credit union; and overhaul procurement, so it results in the fair reward of municipal contracts to local businesses. That level of specificity, information building, and network building will enable us to make the localist revolution truly global. In other words, if you want to reduce inequality, growing local businesses is one important tool. ); I spent my first ten years mobilizing cities to get involved in foreign policy through a nonprofit I started called the Center for Innovative Diplomacy. States also should look at creating public banks like North Dakota’s. Now employee-owned. At one point in 2009, we received a couple of grants that allowed us to expand and I was hired (after resigning from the board) to develop an economic development program for BALLE. callback: cb I continued to work on a few economic development projects for BALLE, but it was pretty clear that BALLE was moving in a different direction, so I left at the end of 2010. Food, of course, is just one sector. Very few local businesses can afford their lawyer bills. We still need better proof that the results our studies predict actually occur. If you localize other sectors modestly, the job impact can be even more profound. Well, it was March 2007 when Time had on its cover “Forget organic, eat local.”. is about entrepreneurship. During this time, I wrote Going Local (Free Press, 1998), the first of four books on localization. He is the author of nine books, including Local Dollars: Local Sense, The Small-Mart Revolution, and Going Local. But even if they were aware, at the end of the day many economic developers are driven more by politics than economics. What I argue in the book is that pollinators are increasingly carrying out the functions of local economic development, which I organize around “P” words: planning, people, partners, purchasing, purse, and policy making. And the two issues are intertwined. That’s why economic development, despite a few minor initiatives aimed at local business, is largely about supporting global corporations—and not taking good care of the local economy. He is also a member of both the State Bar of California and the District of Columbia Bar, and he lives in Silver Spring, Maryland, with his two children. People is about entrepreneurship. And here, my top goal is frankly very modest: Government agencies should stop subsidizing nonlocal competitors over local business in the name of economic development. Two other studies, one from the Economic Development Quarterly and another from the Federal Reserve of Atlanta, found that local-business communities have higher per capita income-growth rates. } Every dollar wasted on outside attraction is a dollar that cannot be invested in local economic development. The companies that set themselves up to run portals to implement the act have run out of money and are going out of business. Each of these state laws only governs transactions within the state—which means, by definition, they are only facilitating local investment. Jennifer Shuman, RA, LEED AP Chief Family Officer / Architect at The Shuman Household Washington D.C. Metro Area Architecture & Planning Community Development Corporations (CDCs), Community Development Financial Institutions (CDFIs), Seikatsu Club Consumers’ Co-operative Union, Learning Action Lab for Community Wealth Building. We also have documentation that in many cities, particularly those with good local business alliances, that “local first” campaigns have made a big difference in the bottom line of local businesses. It also shows how the right kinds of public policy can encourage the spread of pollinator businesses at virtually no cost. By definition anchors are large, and when they lead others follow. They wanted to open up the law so that anyone could invest up to $10,000 in any business across the country. Michael H. Shuman è su Facebook. In cities and towns across the nation, economic development is at a crossroads. If we look at people pollinators, a really good example is Fledge, a business accelerator in Seattle. Economic developers deepen this public misunderstanding by always being able to point to a few minor programs they have – say, a small microenterprise fund – that support local small business. Business Alliance for Local Living Economies (BALLE). No matter what your focal point of local economy-building is, you should look at the pollinator models for ideas about how to wean yourself off of unreliable foundation or government grants. Every time you use the card at a local business, you get a discount and points that apply to future discounts at other local businesses. I then studied the work of a group based in the Hague called Towns and Development, and wrote an evaluation of their work in a book called Towards a Global Village (Pluto, 1994). Another cause of our success is that there is just a lot more distrust of Fortune 500 companies. He’s also a founding board member of the Business Alliance for Local Living Economies (BALLE). michael shuman architect Published On - October 12, 2020 The partners spent four years putting together the business plan, financing, designing, building, and staffing the restaurant. If you have 100 successful local projects each producing ten jobs, that’s page D-7 news. But the board and the executive director did not see eye to eye, so my job changed direction and scale. Even those programs that focus on local business, through buy-local initiatives, for example, depend on ongoing support from government or philanthropy. What would happen if you increased local purchasing by consumers, businesses, and government procurement and local industry expanded accordingly? Examples include Main Street Genome (which provides invaluable data to improve local business performance), Supportland (which is developing a powerful loyalty card for local businesses), and Fledge (a business accelerator that finances itself through royalty payments). All of the evidence right now weighs in favor of local economic development. That said, there are some interesting success stories. He is one of the architects of the crowdfunding reforms that became the “JOBS Act,” signed into law by President Obama in April 2012. It includes “place making.” It also refers to economic development planning, which means identifying dollar leaks in your economy – all the instances where residents are unnecessarily purchasing outside goods and services – and then preparing plans to plug those leaks through new, import-substitution local businesses. We have also won the war of research findings. Shuman has performed leakage analyses and related economic­ development planning in more than ten states and has analyzed opportunities for food localization for several states, cities, counties, and regions across the nation. It includes helping local business plan to become more efficient. One study published in the Harvard Business Review in the summer of 2010 found that local-business communities have a higher per capita job growth rate. Sales and special offers are for online orders only (not available for in-store purchase). For more information on Michael Shuman see: http://www.michaelshuman.com. Michael has 1 job listed on their profile. Public policy is where the government gets involved. One study published in the, in the summer of 2010 found that local-business communities have a higher per capita job growth rate. How do you tap short-term savings in banks and credit unions or long-term savings in pensions for investing in local business? involves several different activities. Remember, studies show that growing local businesses reduces poverty and inequality. The changes in securities law we just discussed stands out. The closer the company is, the easier it is for a local investor to get to know the manager and the workforce, and the less one needs all that legal mumbo jumbo. To what extent do localist efforts address the nation’s rapidly growing wealth and income gaps? })(); © 2020 Chelsea Green Publishing. did a front-page story in 2008 about a concerted effort to build local food businesses in a town of 3,000 people. He’s a fellow at Cutting Edge Capital and Post Carbon Institute and a founding board member of the Business Alliance for Local Living Economies (BALLE). 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