The 3/50 Project: Supporting the Local Economy

In New London, NH, the businesses and organizations that make up Destination New London recently listened to a presentation by Cinda Baxter, founder of the 3/50 Project. The 3/50 Project works to promote a local economy, and it encourages residents of a community to identify favorite local businesses and spend $50 a month in those places: $50 combined, spent in independently owned local businesses. The impact? According to Baxter, a former small business owner, if only half of the employed population spent $50 a month, it would generate $42.6 billion in revenue. Of the money spent locally, 68 cents of every dollar is returned to the local community through payroll, taxes, and other expenditures (compared with 43 cents of every dollar spent at a national chain and zero of every dollar spent online (except for salaries of local postal and delivery personnel).

For more information about the 3/50 Project, visit:
     3/50 Project