People always ask us why we chose to open in the South Loop. As entrepreneurs, the decision boiled down to a single opportunity. We were attracted to the opportunity to be part of shaping the local community - to help create a local, unique culture that would make the South Loop distinctive.
We moved to the South Loop in 2009. We've spent the last 7 years exploring and learning how we can have an impact locally. The lesson we've learned is that, if we want to have a local impact, we need to do it in and through local business. There are so many reasons, some of which I'm sure to share in future blog posts. In the meantime, I hope you sense our hearts for the South Loop in this video...
A concluding thought... A 2012 study by Civic Economics concluded that if Cook County residents shifted 10% of their spending to local business (local = ownership is within the same tax area), then $1.27 billion dollars would stay in the local economy. That's not spending any new money, just shifting 10% of what you and I already spend and that meaning $1.27 billion staying right here.
People ask me sometimes, "Why is it important for money to stay in the local economy?" I've recently come up with an answer, "Let's just consider the fact that the Chicago Public School budget deficit is $800 million."
I know in particular how important education is to the South Loop residents. How can we make the connection between spending dollars at locally-owned businesses with improving local schools? I have some ideas but would really love to hear yours. What do you think?