Main Street local spending is a reinvestment

In Laramie last year, Main Street turned roughly $100,000 of expenses into more than $2.7 million in reinvestments. The average reinvestment return for Wyoming’s eight different Main Street programs is $11.71. Out of those eight, Laramie has the highest reinvestment return.

A dollar is much more interesting when it’s turned into $27.74.

That’s what Laramie Main Street Alliance has done throughout 2012, Director Trey Sherwood said. According to statistics from Wyoming Main Street, every dollar Main Street spent locally generated $27.74 in reinvestment, or other money which is then put into local businesses in the downtown area.

"We send in monthly reports to the Wyoming Main Street program, which is housed in the Wyoming Business Council," Sherwood said. "We’re recording everything, from income and expenses to our grants to volunteer hours. We’re recording building permits that are pulled and filed, improvements that are made, new businesses going in and new jobs being created. We also record when a business closes, moves or relocates and how many jobs are taken out of the downtown area because of that."

By PETER BAUMANN

Full Story: http://www.laramieboomerang.com/articles/2013/02/05/news/doc5110a11da9846983239880.txt