Team Jefferson has one simple request for the community, but it’s a request that a national economist feels may be the key to insulating Jefferson County from a poor economy.
“Think Local First” is the appeal and the name of the campaign that is being introduced to Jefferson County residents as a way to stimulate the local economy.
“We’re really just starting to frame and launch the campaign,” said Shelby Smith, Team Jefferson program assistant, “but this is the direction we’re heading in.”
Team Jefferson’s Economic Development Council, under the umbrella of the extension center for Washington State University, has developed the campaign as a response to economist Michael Shuman’s advice on how to insulate small economies.
Shuman, director of research and public policy for the Business Alliance for Local Living Economies, spoke to a group of nearly 100 people last week on the issues of small, localized economics.
“We are in the middle of several different crises,” Shuman said.
“One fundamental cause is, we separated money and finance from place.
“What we learned from all of this is, local banks and credit unions should be the foundation.”
Shuman said that, while large banks can implode, local banks have the ability to manage risk in a more hands-on manner.
Citing credit card debt that goes out of state as a prime example of “financial leakage” from communities, Shuman posed the question, “Could you imagine if all the money stayed in the community?”
It was one of several ideas Shuman introduced.
Along with local banking, he also encouraged people to consider shifting their purchasing from large “big box” retail stores to locally owned businesses, invest in local businesses, consider local stock in businesses and praised the county for passing the power authority proposition last year.
Above all, Shuman urged people to think locally.
“It doesn’t mean buy local irrespective of the cost,” he said. “It doesn’t mean buy local or you suck.
“It means think local first.”
Shuman said Business Alliance for Local Living Economies research has discovered that just a 10 percent shift in purchasing from nationally owned companies to locally owned businesses can have a massive effect on the local economy.
Shuman praised Team Jefferson’s efforts and the city of Port Townsend for embracing the concept.
“You should be pleased you have one of the few economic development groups in the country focused on the right thing,” Shuman said.
The group has created window signs for local businesses and now plans classes on Shuman’s concepts.
Class Thursday
Smith said the first of the classes will begin at 7 p.m. Thursday at the extension center, 201 West Patison Road, Port Hadlock.
Smith said the best way to get involved was to do what the campaign encourages: Think local first.
Port Townsend Mayor Michelle Sandoval said the city’s role would be to encourage people to think locally on both sides of a transaction.
“We need to commit to thinking local first as shoppers, and the business owners need to think about locals first as well,” Sandoval said.
“Local retailers should think about what they can stock that might not be a flashy tourist item but is an item locals might need.”
City report
She also said she is hoping the city will create a state-of-the-city report identifying the community’s strengths and points of leakage of funds.
“That’s what I hope to attack in the future on City Council,” she said.
“To take the inventory of our strengths and identify our leaks.”
Shuman said he was glad to see Jefferson County taking the steps.
“The overall design of your program makes sense,” he said. “There is awareness, and that means you have power.”
For more information on the Think Local First campaign, phone Team Jefferson at 360-379-5610.
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Reporter Erik Hidle can be reached at 360-385-2335 or at erik.hidle@peninsuladailynews.com.
