Spend $20 on the 20th
A bit of green will help light the way for Valley

By John F. Moeur
Managing Editor
Published/Last Modified on Sunday, February 7, 2010 11:03 AM EST

Want to do something to jump start the local economy that is simple and direct with a guarantee you will get your money’s worth while helping the Valley’s balance sheet? It’s uncomplicated — Spend $20 on the 20th.
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The answer to climbing out of the economic slump may seem complicated when debated by economists, analysts and financiers. Many speak of complicated government spending programs, severe cutbacks in public services, mammoth loans to big corporations or huge deficits as cures to the nation’s economic malaise. While these may be needed, one cure is often pushed to the back burner if not totally ignored — restoring consumer confidence and the marketplace.

It’s a cure in your hands, the Valley consumer.

Now we understand you just can’t spend in a helter-skelter manner without forethought or common sense. But a bit of extra spending could go far toward sparking the Valley’s economy.

So here’s the idea — on Saturday, Feb. 20, spend an extra $20 with a Valley enterprise — $20 on the 20th.

Consider this: When you spend $20 for goods or services at a Roanoke Valley business, your money will help pay a merchant’s or a professional’s overhead, provide salaries for employees and profit to reinvest. Passing from hand to hand, it will multiply three times over and have the impact of $60.

If every adult in the Roanoke Valley spent an additional $20 on Feb. 20, the economy would have an infusion of approximately $1.15 million, and when the multiplier effect runs it course the financial benefit is estimated at nearly $3.5 million or more.

“This is a great way to stir the local economy Š The national experts say the recession is over but folks are still being conservative. They have concerns. Spending $20 by every adult would bring a million bucks rolling through our Valley,” Roanoke Valley Chamber of Commerce President and CEO Allen Purser said.

Joining The Daily Herald in $20 on the 20th are the Roanoke Valley Chamber of Commerce, the Lake Gaston Chamber of Commerce, the Northampton County Chamber of Commerce, the Roanoke Avenue Business Alliance, Becker Village Mall and the Roanoke Valley Lake Gaston Board of Realtors.

You can do a lot with $20. While not exorbitant, spending a bill bearing President Andrew Jackson’s portrait will carry a great deal of economic weight.So have fun, buy something special, make an unplanned contribution to a charity, surprise someone with a treat — Spend $20 on the 20th and make a difference.

 

Comments

    Jason wrote on Feb 9, 2010 10:13 AM:

    " I don't think you understand the problem here. Not everyone in the Roanoke Valley can afford to spend and extra $20 on something like this. Where do you people come up with ideas for things like this? Your heads need to be examined. The Roanoke Valley is an extremely indigent area with high unemployment and struggling families. "

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