Book Passage and the Local Economy

 

The Local Advantage

In 2004 the firm of Civic Economics conducted a study comparing the economic impact on the local economy of locally-owned businesses versus chainstores. The study was conducted in the Andersonville section of Chicago, and it produced results similar to those of other studies. It also confirmed what independent retailers had long contended: Locally owned businesses contribute far more to the local economy and than chainstores.

 

The Andersonville Study, which included independent bookstores as well as other local business, found that the “local advantage” was about 70% -- that is to say, local businesses returned about 70% more to the local economy in terms of wages, purchases, contributions, and other expenditures than did their chainstore competitors.

 

Some highlights of the study

(the study can be found at www.Andersonvillestudy.com)

 

“Locally-owned businesses generate a substantial Local

Premium in enhanced economic impact.

·  For every $100 in consumer spending with a local firm,

$68 remains in the Chicago economy.

·  For every $100 in consumer spending with a chain firm,

$43 remains in the Chicago economy.

·  For every square foot occupied by a local firm, local

economic impact is $179.

·  For every square foot occupied by a chain firm, local

economic impact is $105.”

 

“The study points to clear policy implications.

·  Local merchants generate substantially greater economic

impact than chain firms.

·  Replacement of local businesses with chains will reduce

the overall vigor of the local economy.

·  Changes in consumer spending habits can generate

substantial local economic impact.

·  Great care must be taken to ensure that public policy

decisions do not inadvertently disadvantage locally owned

businesses. Indeed, it may be in the best interests of

communities to institute policies that directly protect them.”

 

 

Book Passage Expenditures

The results of the Andersonville Study has prompted BP to take a look at their own expenditures with an eye towards gauging the local impact. The list of local contractors, merchants, service professionals, financial institutions, and others with whom they regularly do business is long and deep.

But the list becomes even longer when you add in the impact of their author events, classes, conferences, and other programs. We believe that if you add in the effect of these additional activities, the impact on the local economy is a good deal greater than the 70% advantage found in the Andersonville study. Many customers attending Book Passage author events (of which there are about 500 per year) come from a considerable distance, and while they are here they dine at local restaurants and shop at nearby stores. The same is true of people that come for book groups, attend classes, or come to the store for a community meeting. Author events at outside locations often generate revenue for other local businesses. The Book Passage Cooks with Books program fills the local Left Bank restaurant and sometimes other restaurants with customers. During Book Passage writing conferences teachers and students are housed at local hotels for a period of up to five days at a time.

 

Here is a partial list of local firms and institutions with which BP does business:

 

Bank of Marin (all business banking)

Hospice of Marin (joint book sales)
Marin Literacy Project (fund-raising events)

Ross Valley Pharmacy (book deliveries through “BP to Go”)

Left Bank Restaurant (Cooks with Books dinners and conference dinners)

Ideal Stationers (office supplies)

Redwood Security (alarm system)

Allen Heating (heating and air conditioning)

Lark Creek Inn (author events and meetings)

Woodlands Market

Paradise Market

Ram Insta-Print

Corbett’s Hardware

Photosprint (photography)

Corte Madera Inn (housing for conferences and classes)

Marin Suites (housing for conferences and classes)

Sakana Bistro (conference and author-event meals)

Izzy’s (conference and author-event meals)

Any Mountain (joint author events)

Corporate Media (sound systems)

Sally of the Sawdust (bookshelves and display fixtures)

Brown & Brown/ Dan Slane (Insurance)

Peter Lagarias (attorney)

David Tucker (architect)

Western Espresso & Tea

Mary Osborne Designs (logos, signs and graphics)

Mill Valley Services (printing)

Bill Edwards (maintenance and construction)

Marin Copier Company (photocopier maintenance)

Western Exterminator

Passport Health (flu shots)

Hannibal Electricians

Liberty Telecom (phone maintenance)

Comet Maintenance (cleaning service)

Red Robin Catering (events and conferences)

Marin Lock and Key

Passion Flowers

Kim’s Orchids

Bridgeway Bagels

Marin Produce

International Pastry

Marin Foods

Paul’s Bakery

Sweetmill Bakery

Woodbine Bakery

 CCSIB thanks Book Passage for providing this economic impact report for our Web site and for their Fortnightly