Results from a new study show that towns have better economies when the residents show them a lot of love
The “Knight Soul of the Community” survey explored the connection between local economic growth and residents’ emotional bond to a place. Results clearly show a significant, positive link between resident attachment and local GDP growth, conclude researchers and Ellis, the foundation’s vice president for strategic initiatives.
I am going to refer back to a couple of blog posts that I have posted in the past here and here. In both of them, I mention Jane Jacobs and her import replacement theory. The theory simply states that total local employment is the product of basic local employment and the propensity to consume locally. If town residents are consuming only locally produced goods, then the local employment in the area increases as a result–the same holds true as basic local employment increases too; in addition, there is a massive explosion of total local employment if both basic local employment and the propensity to consume locally both increase.
If you show your town some good old fashion lovin’ by “spend[ing] more time there, spend[ing] more money”, you might just find that people will be “more productive and tend to be more entrepreneurial,” which can be tied to Jacobs’ new work coming from old work. In return the town may show you its own kind of lovin’, but only as friends. 🙂