The power of purchasing : Economic impacts of local procurement

The Power of Purchasing The Economic Impacts of Local Procurement by Anthony Pringle May 2013 COLUMBIA INSTITUTE /. LOCO BC /. ISIS RESE AR CH CENTRE AT THE SAUDER SCHOOL OF BUSINESS 1 THE POWER OF PURCHASING: The Economic Impacts of Local Procurement by Anthony Pringle May 2013 ©Columbia Institute, LOCO BC, and ISIS Research Centre at the Sauder School of Business. [...] In British Col- local economy — on the ability of spending to various levels spend umbia, local governments and school districts increase wealth and jobs in local communities millions on economic alone spend over $6.7 billion annually on the and regions (often referred to as the local multi- and business purchase of goods and services.1 As a result, plier). [...] This is an important point to note, finances and records, allowing a breakdown of because the greater the local presence of revenue and the proportion of local spending. [...] The vast majority of this revenue Labour is where The greater economic impacts attributed to local is not spent locally, but rather goes to large the greatest companies can be better explained by taking a distributors in the U. S. and overseas to the difference in local deeper look at specific revenue categories. [...] COLUMBIA INSTITUTE /. LOCO BC /. ISIS RESE AR CH CENTRE AT THE SAUDER SCHOOL OF BUSINESS 13 > Figure 1: Visual Representation of Mills Basics Contribution to Local Jobs > Figure 2: Visual Representation of Staples or OfficeMax Contribution to Local Jobs 14 THE POWER OF PURCHASING: THE ECONOMIC IMPACTS OF LOCAL PROCUREMENT > The Local Difference Mills Basics, the wholly local company, was found to