Schools, Hospitals, Transportation Infrastructure, Parks, 4th of July Fireworks, you name it, are funded all or at least in part by our Sales Tax Revenue. “No brainer” you say?. You’re right.
Let’s take it a step further. You buy online from a Big Box retailer based in Salt Lake City. The same product is available in a local store, but for various reasons you buy online and have the product shipped here. For the moment, I’m going to overlook the carbon footprint issues associated with transportation of a single product. The focal point is this – do you still expect to receive the services and enjoy the amenities funded by sales tax revenue, or do you plan to travel to Salt Lake City and use their Rec. Center? Maybe their Library?
By nature, we all like our cake + eat it scenario to come true. In reality, we know we can’t have it that way. Years of abundant supply may have dulled our senses to some of these really basic economic factors. The present economic challenges have delivered another great learning opportunity for all of us, a wake up call.
Support local business, support our community and it will in turn support you in the way that you’ve become accustomed.
Pretty simple economics really. Think about it.
….Before I even post this article, I can hear the naysayer’s…”What if I can’t get it in Jackson?….We don’t have this store or that store?....I got it $5 cheaper in SLC…” etc. etc.
Did you ask the store owner/manager if they could stock the item that you’re looking for? Feedback is a very useful thing for small business operators. How else do they know what customers want? ESP is not an effective business tool.
What is the full value of the saving that you made? Is it equal to the value of the Sales Tax that you would have contributed to our community? Is it equal to the carbon credit that you will need to purchase to offset the additional transportation for that one item?
What happens if one of your roommates loses their job because we’re sending our business/bucks elsewhere? What’s the true cost of this lost job? Will you have to start paying more to make rent each month? Ouch. It hurts you pretty quick.
Start small, think big, invest in yourself and by virtue, you invest in your community.
Meagan Hill is a Commercial Real Estate Investments Specialist and Principal of NAI Jackson Hole servicing the Jackson Hole WY and Teton Valley ID markets.
For further information, contact Meagan at (307) 734-8700 or firstname.lastname@example.org