The numbers are in, and the City of SLO’s Buy Local Bonus and Eat Local Bonus programs channeled an impressive $1,249,207 directly into local eateries and retailers local over two months.
For the fourth year in a row, the City of San Luis Obispo partnered with the SLO Chamber of Commerce on the Buy Local Bonus and Eat Local Bonus programs to incentivize local shopping and support of local food and dining establishments during the holiday season and the first month of the year. This year, the City increased their initial investment to $125,000, purchasing twenty-five $25 gift cards from qualified local businesses.
“We are thrilled to see such a significant number of community members make the intentional choice to spend their money at local retailers and eateries,” said Molly Cano, Economic Development & Tourism Manager for the City of SLO. “Every dollar spent locally matters, and the Buy Local Bonus and Eat Local Bonus programs stretch those dollars even further for businesses and consumers alike.”
Both the Buy Local Bonus and Eat Local Bonus sold out ahead of schedule, exhausting the funds put in by the City, and incentivizing more than one million dollars in local spending.
“Local retailers and consumers both love this program, and it’s great to see so many people supporting their favorite local businesses” said Jim Dantona, President/CEO of the SLO Chamber of Commerce. “We are thrilled to be the City’s partner in their investment in the local business community.”
To incentivize the local spending, the City invested $175,000 in gift cards to local retailers and dining establishments. Shoppers and diners spent a cumulative total of $1,074,207 over 12,658 receipts, which, when combined with the City’s investment, resulted in $1,249,207 in direct local spending.