The economy has been on the forefront of people’s minds for a few years now, but the good news is, stories about the economy are beginning to change. Many (I would venture to say most) were hurt in some way by the economic collapse in 2008 and many, unfortunately, are still feeling the after-effects. However, as we endure over time, we are able to restore ourselves to normalcy and even recognize our role in helping to restore the national economy. Baltimore, it seems, is ahead of the curve.
The owner of the Baltimore-based Falls Road Running Store has articulated his role in fueling the economy in a nationwide competition to promote the importance of retail in the national economy. Jim Adams illustrates the direct impact his store has had on his community: with the profits from shoe sales, Adams can pay his bills and his employees, who in turn make purchases that allow others to earn money and support other businesses. He describes a full cycle in which the money he earns is spread throughout the community, benefitting several various businesses and individuals before eventually making its way back to his store. People invest in his shoes and he invests in his community. Rinse, repeat. Everybody wins and the economy grows.
Jim Adams is one of five businesspeople (the only one from Maryland!) to be recognized by the National Retail Federation and will be featured in their national campaign. Watch his video below:
In what ways do you support the economy? Locally? Regionally? Nationally?