July 2, 2013

Cover Story

CEO of the Year

Utah’s business landscape is rich with professionals who have le...Read More

Featured Articles

Did you go Skiing this winter?

Around Utah


Martin Plaehn

Karen Sendelback

Legal Briefs
Social Media and Employers: Friends or Enemies?

Money Talk
The Case for HSAs

Economic Insight
Time to Show Up

Lessons Learned
Make a Move

In the Lab

Rent to Own

Business Trends
Back from the Dead

Living Well
Artful Inspiration

A Breath of Fresh Air

Worst-Case Scenario

Regional Report
Northern Utah

Measure Up

Industry Outlook
Travel & Tourism



Study Shows More Money Spent at Locally Owned Business Stays in Economy

July 2, 2013

Salt Lake City – Local First Utah has released an analysis of a statewide study series by Civic Economics detailing the amount of revenue returned to the local economy by locally owned, independent businesses.

Collectively, studies implemented in Salt Lake City, Ogden, and Wayne County show that locally owned retailers return 55.3 percent of their revenue to the local economy. For comparison purposes, national chain retailers return just 13.6 percent of revenue. That means every dollar spent at a locally owned, independent business returns more than four times more to the local economy than a dollar spent at a national chain retailer.

The study also compiled data from restaurants. Utah-owned eateries collectively return 69.1 percent of their revenue to the local economy. National chain restaurants return just 30.4 percent, meaning a dollar spent enjoying a meal at a locally owned restaurant more than doubles the return to the local economy when compared to a dollar spent at a chain restaurant.

The study concluded that shifting just 10 percent of purchases from national chains to locally owned retailers and restaurants would keep $1.3 billion in the Utah economy — money that currently leaves the state quietly in nightly deposits to be spent elsewhere.  

"The extra dollars in the local economy produce more jobs for residents, extra tax revenues for local governments, more investment in commercial and residential districts, and enhanced support for local nonprofits. In short, local businesses create better places." said Daniel Houston, partner at Civic Economics.

The complied Utah study results are being released during Independents Week, July 1-7, a celebration of the value and vitality of independent businesses to our communities. The mayors of Salt Lake City, Sandy, Gunnison City, Moab, West Valley City, Ogden, and Salt Lake County are issuing official proclamations acknowledging the contributions of locally owned businesses to their communities. Also in celebration of the week, more than 50 businesses statewide are giving away free bumper stickers for locally committed shoppers with the declaration "I Buy Local First."

"The money that local businesses return at four times the rate of chains is just one of many reasons to truly celebrate our independent business owners and operators - we also celebrate their courage and authenticity, and the way in which they help keep Utah unique," said Nan Seymour, executive director of Local First Utah. "We can all do more to support our neighbors in their brave business endeavors, remembering that dollars spent here locally are reinvested in our own communities."

Utah Business Social
UB Events View All
PR Spring ConferenceUtah Business Event
May 7, 2015
Join your Utah colleagues from Utah Business along with PRSA & IABC for this important, 1-day eve...
30 Women to WatchUtah Business Event
May 21, 2015
Utah Business Magazine along with Snell & Wilmer are proud to announce the 18th annual 30 Women T...
CXO of the Year 2015 - NOMINATIONS NOW OPEN!Utah Business Event
Jun 25, 2015
NOMINATIONS NOW OPEN_______DEADLINE TO ENTER: April 13, 2015 at 10 a.m. Nomination Forms ...
Community Events View All
Mac OS X Support Essentials
Apr 2, 2015
Using Apple Certified Curriculum, Mac OS X Support Essentials is a hands-on course that provides ...
Leo Libations
Apr 2, 2015
From the Tin You’ve heard of single pan dinners—but can you imagine cooking an entire meal in ...

info@utahbusiness.com  |  90 South 400 West, Ste 650 Salt Lake City, Utah 84101   |  (801) 568-0114

Advertise with Utah Business

Submit an Event

* indicates required information
* Event Name:
Price (general):
Website (if applicable):
Coordinator's Name:
Coordinator's Email:
Coordinator's Phone:
Venue Name:
Venue Address:
Venue City:
Venue Zip:
Event Capacity:
* Event Description: