Issue Position: Sustainable Local Economies

Issue Position

Small businesses are the foundation of healthy local economies, a way to build family and community wealth, and to support community resiliency. Too often, economic development policy focuses exclusively on attracting multi-national corporations, which can come and go based on the best deals offered in a race to the bottom for the communities they move through. A healthy local economy has a role for large corporations and anchor institutions, but must also prioritize small businesses. Lorig will promote policies that help develop local economies through the support and growth of small businesses, with a focus on creating wealth-building opportunities for people who have historically been excluded. Maryland should invest in training, shared-use infrastructure, access to credit, and access to markets for new and growing local businesses. Maryland business development strategies should seek to maximize local ownership and support the development of worker cooperatives. State procurement policies should prioritize locally owned businesses, those using sustainable practices, employing local workers, creating employment opportunities for people with limited opportunities, and paying prevailing wages.

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