Are you a hole in your community's leaky bucket?
When our business leaders, planners, and politicians look at ways to revitalize local towns and rural areas, the usual proposed solutions are to find ways to bring more money into the community. Typical approaches to bringing in money involve promoting tourism, agriculture, corporate relocations and other forms of inward investments. What is often overlooked is the important concept of money flow within the community. Think of your local economy as a bucket and bringing in money to your community is like pouring water in the bucket. The bucket is going to have some holes in it and some of the water will leak out. Some of the holes can’t be fixed so you will always have a leaky bucket. The state and federal government will collect taxes, for example. Those are holes that can’t be fixed. The idea of the leaky bucket illustrates the importance of money flow through a community. The more holes in the bucket, the more frequently the community needs to refill the bucket (bring in ...