Business Growth
1:08 pm
Thu May 2, 2013

Syracuse First announces New Economy Summit to help local businesses help each other

Advocates for the local economy want to educate Syracuse businesses and consumers on ways to help each other out.  Organizers say an upcoming event could really transform the area’s economy.

Chris Bolt reports on the New Economy Summit

Syracuse First Director Chris Fowler

You only have to look as far as a cup of coffee to get the point.  Buy Local advocacy group Syracuse First says if you turn one way, into the large, national retailer, about 43 cents of that two-dollar French roast stays in the local economy.  But if you turn the other and go into Freedom of Espresso or Recess Coffee or another local business almost twice as much stays at home.  Martin Butz works with Recess and other firms on local marketing within the food industry.
 
"In food the change has been swift and significant.  it's an entry into the buy local movement.  It happens sooner with food and is coming around to other things," Butz said.  " Restaurants downtown and other, locally sourced businesses such as new farms, producers, and entrepreneurs in between producers and consumers" 

LOCAL BUSINESSES NEED TO HELP EACH OTHER

Butz will be one speaker at the New Economy Summit to use the concept to help all area businesses.  Sessions will focus on the value of trying to keep business local and ways different businesses can work together to support more local jobs and growth.  Americu Credit Union is a sponsor...Vice President Judy Cowden sees “buy Local” as an effective growth strategy.
 
"We can’t look to the federal government; we can't look to the state; we can generate our own economic 'mojo'," said Cowden.  "Were a commercial lender...seeing businesses every day with business plans in their hands.  They're financing new equipment; they're financing expansions and  financing entirely new business.  They're hiring, they're growing."

Syracuse First says shifting 10 percent of retail and wholesale to local buying could produce 12-hundred new jobs.   The New Economy Summit takes place May 22nd at the Genesee Grand hotel...information at Syracuse-First-dot-org