Well for one, the American Planning Association seems to think so!

Last Thursday they named Roosevelt Row on of America’s “Great Places.” The proud members of the community believe by promoting local businesses they’re not only benefitting the taxpayers, but also building a stronger community.

Mayor Greg Stanton said, “Now we’re getting other businesses who want to relocate downtown. People love the vibe here!” Stanton believes that providing an area where millennials can live walking distance from a local bar, could make this area more competitive.

According to the Bureau of Labor Statistics, in Arizona there has been an increase of employees in the professional and business services super sector. For anyone who isn’t an economics expert, this means business is booming! There are more business owners and laborers receiving income, and extra income turns into extra spending.

While we can spend our money a lot of different ways, there’s a lot to consider while shopping at a local business or a franchise. Local First Arizona, a non-profit organization dedicated to supporting local businesses, breaks it down really simply:

If you spend $100 at a non-locally owned business, $43 stays in the local economy through local taxes and wages, which turns into things like school funding, while $57 leaves the local economy to pay big business employees and production costs.

If you spend $100 at a locally owned business $73 stays in the local economy, and

only $27 dollars leave the community.

Greg Centrone co-owns the infamously green smoke shop, Bud’s Glass Joint, and despite only being in business for four years, they’re friendly staff has collected three plaques!

The Phoenix New Times dubbed Bud’s Glass Joint Best First Friday Hangout of 2013, Best Head Shop of 2014, and this year they have earned the recognition of Best Shopping on Roosevelt Row.

The three partners have thrived enough in their commercial venture that they were able to upgrade their boutique to a new location, but of course leaving the loyal hipsters of Downtown was never an option.

Centrone said, “We would never leave the neighborhood. Our customers feel like the economy is doing better. The other local places on Roosevelt Row are doing steady. I think when we’re doing well everyone is doing well. ” Even the local neighborhood smoke shop is apart of the family amongst Downtown Phoenician vendors.

Kimberly Simpson, a student at the ASU Downtown campus tries to remind herself as often as she can to buy locally. She said, “I go to the little market here and I always see really interesting things being sold. I’d rather give my money to them and see it in the community than let CEOs get richer.”

Downtown Phoenix has caught on to the wholesome and humble economic strategy, and it seems to be working. As the neighborhood’s popularity increases, so does the development of the area. Construction zones can be seen sprinkled throughout the city, and original houses are being remodeled as more business owners buy properties in the arts district. Expect those sidewalks to get a little more crowded!