Two weeks ago the stories appearing in the Broadcaster were dominated by local economic news. Walgreens was opening and four locally-owned businesses were closing.

While some new jobs were created, it was mostly a reshuffling of employment for many. These and other recent events have not always painted a rosy picture for our local economy. How do local economies become vibrant and sustainable? I believe the following concepts can be a positive step in that direction:

1) Spend with locally owned businesses. Spending with locally-owned businesses recirculates money within the community creating local wealth. When we spend at multinational corporations the profits quickly leave the community to pay investors all over the world.

2) Bank with a locally-owned bank that reinvests that money locally. All banks are rated as to the percentage of their investments that are in the local community. Bank ownership and this rating are public information.

3) Invest locally. Investing in multinational corporations may or may not pay higher dividends, but Viroqua means nothing to them other than market share. The Viroqua Food Co-Op is prime example of how investing locally can build the local economy. Without the investment by many local people it is doubtful it would be the thriving business it is today. The monetary return on those investments is quite good and the feel good return is excellent.

4) Insist that local government buy locally whenever possible. We support government with our taxes and it seems only reasonable that as much of that money recirculates through our local economy as possible. For instance, the schools buy enormous quantities of food, and we are an agricultural area.

5) Reduce debt. If you own credit card debt or loan payments to non-locally owned institutions all of the interest you pay leaves the community. The same holds true for business or government debt.

6) Create infrastructure. Many locally-harvested products need to be processed before they can be used locally. For example, a small poultry processing plant would encourage people to raise poultry for the local market and to satisfy the growing demand for naturally raised meats everywhere.

7) Vote with your dollars. Your money represents your values. If you spend money with a company whose policy is to sell arms overseas, pollute, outsource jobs, etc., you support that policy. When you spend with locally-owned businesses you support your neighbors.

It is up to us to make the local economy thrive and be sustainable. Government’s role needs to be guided by “We the People,” not special interests. That means all us taking a little time to understand. As the old timers used to say, “many hands make light work.”

Dan Peper

Viroqua