Buying Local - Keeping the Dollars in Connecticut

At Key Hyundai of Manchester we are undergoing a major construction project.  Okay, that's an understatement. Let me be straight about it. We are tearing our building to the ground and building a new $2.5 million state of the art facility in it's place. 

Going into this project, one of our goals was to keep as much of the construction dollars in our local economy as possible. I am passionate about community empowerment and this is one way we can support the Greater Manchester area. 

I know some of you may be asking how it really helps to use local builders.    According to a Time Magazine article called "Buying Local: How it Boosts the Economy" from June 11, 2009, one of the largest reasons buying local is important is that it increases the velocity of money.  Velocity of money is the speed through which money moves through a local community.  If you go to a chain restaurant for dinner, the money that you pay gets almost immediately siphoned out of the local econcomy.  All the food comes from national suppliers and the corporation is usually headquartered outside of Connecticut.

On the other hand, let's say you go to a local restaurant, like Rein's Deli (my favorite) and you buy a gluten free muffin.  That gluten free muffin comes from Nature's Grocer in VERNON!  That means your money has velocity in your community.  The money that you paid for that muffin goes to support Natures Grocer, another local business. 

Now back to Key Hyundai of Manchester and our redevelopment project.  How are we keeping it local?  The first thing we did was choose a local CT builder.  Claris Construction, out of Newtown, as our design build firm.  Now were up to the demolition stage and we've chosen Mastracchio & Sons from Hamden to do the work.  Not only are they a local company, but they are also a third generation business, like my family's business.  We will continue to choose local contractors, where ever possible, as we move through to completion on this project in December 2011. 

Our goal is to support the local community and to continue to offer more - more value, more service and more local tax revenues and more local jobs.

Oh, and by the way, if you are a kid at heart and still love heavy machinery, come visit our site at Key Hyundai of Manchester, 21 Hartford Tpke, Vernon, Ct (right on the Manchester line).  We'd love to show you around!