Civic Economics is pleased to present the American Booksellers Association, Re>Think Local, and ABA members Half Moon Books and Oblong Books and Music with this local edition of the Indie Impact Study Series detailing the impact of the independent business community in the Hudson Valley of New York State.
About the Report:
Re>Think Local collected surveys from independent, locally-owned businesses engaged in the retail and restaurant trade in Dutchess, Orange, and Ulster Counties in the Hudson Valley. Each business was asked to complete a survey about its business practices that focused on the distribution of revenue that recirculates in the regional economy through the categories of expenditure described above.
Seventeen retailers and six restaurants, all independent and locally-owned, completed the survey. These retailers return a total of 58.2% of all revenue to the local economy. The restaurants surveyed return a total of 77.7%. Ulster County produced enough surveys to merit separate reporting, with ten retailers and four restaurants returning 55.6% and 77.1% respectively.
For comparison purposes, Civic Economics analyzed annual reports for four major national chain stores (Barnes & Noble, Home Depot, Office Max, and Target). These stores recirculate an average of 13.6% of all revenue within the local markets that host its stores. For chain restaurants, we analyzed Darden (Red Lobster, Olive Garden, etc.), McDonald’s, and PF Chang’s. These eateries recirculate an average of 30.4% within the local market.
The charts on the following pages summarize these findings, providing further detail on local recirculation by local businesses.