THINK B.I.G. is a movement that focuses on making a concentrated effort to spend dollars in Valdosta-Lowndes County, rather than ship them off to other communities, where they have negligible effect on local economy. The Valdosta-Lowndes County Chamber of Commerce and area business leaders are promoting the THINK B.I.G. concept throughout the community. What started in 2005 as a campaign to promote local auto dealers has grown into full-scale movement that is aimed at directly counteracting national recessionary trends.
“THINK B.I.G. is about maximizing our investment in our community,” said Jay Prince, owner, Prince Automotive of Valdosta, Inc. and THINK B.I.G. Chairman. “When we spend our money locally, not only are we making sure our money makes the biggest impact on local economy, we keep more money in our community that goes towards paying one additional salary, which keeps one more job alive in Valdosta.”
A study derived by Dr. Cynthia Tori, Associate Professor for Valdosta State University Langdale College of Business, revealed that for every dollar spent in Valdosta-Lowndes County there is a return on investment of $1.63. With this information, the Chamber has developed a campaign centered on reallocating money into our local economy. Through the summer of 2009, the Chamber has challenged its members to identify a total of five million dollars in money that is expected to be spent outside of Lowndes County. Businesses are being asked to identify ways to spend that money in our community instead. Dr. Tori’s economic impact study shows that with a direct impact of five million dollars on the local economy, the return on investment would be approximately 8.3 million dollars, 118 new jobs, and one half million dollars in additional tax dollars.
The THINK B.I.G. movement aims to have a psychological impact as well as an economic impact. Small to mid-sized towns often fight the perception of lack in quality and abundance of products and services. The Chamber wants to change that perception by showcasing the abundance of various resources that can be found in our local community.
“There are pretty good reasons the Greater Valdosta area avoided recessionary trends a full nine months longer than the rest of the nation,” stated Jay Prince.” We have been doing business the right way for a long time. We have a solid, diverse business structure, our community has bought into greatness, and we always stay focused on the big picture. These characteristics will pull us out of this economic funk. These characteristics define what THINK B.I.G. is all about.”
