When a customer spends $100 at a local independent business, 68 of those dollars stay locally. If that same $100 is spent at a non-local business, only $43 stay here, according to the Andersonville Study of Retail Economics.

The Be Local 20/20 Challenge, sponsored by Be Local Northern Colorado, asks residents to pledge to spend $20 per week from their normal household budget at local, independent businesses for the next 20 years.

As of May 21, 2010 634 people had accepted the 20/20 Challenge. The direct dollar amount impact of this is $253,000. With the economic multiplier effect, where a dollar turns over and circulates in the economy four to seven times, these 634 people have at least $1,014,400 dollar impact on our local economy.

To learn more or take the 20/20 Challenge pledge, visit www.belocalnc.org/2020-challenge/

The Group Inc. Real Estate. How 634 = $1 million: Be Local. Volume 34, No. 6.