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Gov. Bill Richardson kicked off a statewide campaign that encourages New Mexicans shopping this holiday season to spend locally.
The Los Alamos MainStreet version of the promotion encourages residents to consider spending $50 per month at three different locally owned businesses.
“I know that this is going to be a tough holiday season for many New Mexico families who are feeling the financial pinch,” Richardson said. “But I also believe that many New Mexicans will be spending at least $150 on gifts and meals this holiday season. So I am asking them to spend that money to support local businesses and invest in their communities.”
For every $100 spent in New Mexico businesses, $68 dollars stays in the state, through taxes, payroll and other expenditures. That’s compared to $43, if those same $100 aren’t spent locally.
The State Economic Development Department estimates that if each employed New Mexican spends $50 in local shops and restaurants, the state economic impact could reach $27 million in the month of December.
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