One Dollar Coins Two Dollar Bills

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STAFF REPORTS

LINCOLNTON - If the Downtown Development Association's newest Go Local Lincolnton effort "Strange Change" catches on there will be a lot more dollar coins and $2 bills in circulation locally. DDA wants Lincolnton residents to show their support of locally owned businesses by using dollar coins and $2 bills.

"The dollar coin and $2 bill are perfect for this gesture of support," said Brad Guth, DDA Director. "They are not in wide circulation so they are special when you get them. And now in Lincolnton they will come to symbolize support for local business."

The ultimate purpose of this effort, as well as a series of other Go Local Lincolnton events, is to educate the community on the importance of not only shopping local but at locally owned businesses.


In recent years, groups like Civic Economics, the Institute for Local Self Reliance and others have studied the effects of doing business with locally owned businesses versus a chain store or big box retailer. Going local always makes a bigger economic impact in the local economy.

In an often quoted study, Civic Economics found that for every $100 of local spending $68 stays local as compared to just $42 when you shop at a chain store or big box retailer.

"That money goes right back into buying a house here," said Guth, "And into supporting local schools, local sports leagues, local churches and charities and so forth."

Locally-owned businesses have been a primary element in Lincolnton's success throughout its history. First established in the 1780s, downtown began as trading post for area farmers. In the mid 1980s downtown experienced disinvestment. Local business owners banded together to form the Downtown Development Association to promote the protection and use of downtown.
Today downtown Lincolnton has the highest concentration of independently owned business in Lincoln County and boasts a 90% occupancy rate.

The Strange Change effort kicks off tonight at the Go Local Lincolnton Alive After Five concert. Customers purchasing beer and soft drinks from DDA will receive strange change. Soon many participating downtown businesses will be providing change in dollar coins and $2 bills. DDA encourages citizens to participate too by requesting their own dollar coins and $2 bills at local banks and spending them at locally owned businesses.

"Now, if you have a $2 bill in your wallet and dollar coins in your pocket, everyone will know you support locally owned businesses in Lincolnton," said Guth.