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WHEREAS: The City of Cambridge has long been a hub of innovation, ideas and most importantly action; and
WHEREAS: The most readily available action any city can take to diminish the effect of the national economic crisis on its residents is to help strengthen its local economy; and
WHEREAS: Examples abound of cities where a grassroots movement committed to leveraging the ‘multiplier effect’, wherein money spent at locally-owned businesses contributes 57% more to the local economy than does money spent at non-locally owned businesses, has helped give residents more healthy, vibrant, and sustainable communities; and
WHEREAS: Cambridge is fortunate to have hundreds of unique and popular locally owned and independent businesses that are critical components to a strong local economy; however, In these hard economic times owning a business has become even more difficult; and
WHEREAS: That hardship necessitates a more pro-active approach by municipal governments to support local economic development in order to realize a positive impact for residents in the local economy; now therefore be it
ORDERED: That the City of Cambridge declares itself a “Local Economy Community” welcoming and supportive of local entrepreneurship; and
ORDERED: That the City of Cambridge declares September 27-October 3, 2010 as “Cambridge Local Economy Week” and that the City Manager is hereby requested to confer with appropriate departments to promote the steps residents can take to contribute to localized economic development during that week, including notification on the billboard in front of City Hall, notification on the City Website, and increased distribution of a locally-owned business directory; and
ORDERED: That the City Manager is hereby requested to report back to the Economic Development Committee of the City Council with recommendations for how the City of Cambridge can:
- Achieve at least 10% municipal procurement from locally owned independent businesses; and
- Ensure that locally owned and/or regionally owned independent banks are encouraged to participate and given whatever preference is lawfully allowed when bids for the provision of municipal banking services are requested; and
- Support whatever efforts are made by the School Committee to increase the percentage of locally grown and produced food served to our children; and
ORDERED: That the Economic Development Committee’s Local Economy Task Force continue to identify and develop policies that directly support the growth and development of locally owned and independent businesses in Cambridge.