Investing in the community

By Justin Andrews
By Matt Hicks

April 16, 2013 Updated Apr 17, 2013 at 1:29 AM EDT

Binghamton, NY (WBNG Binghamton) When it comes to local economic development, some groups are saying invest locally.

That was the subject of Tuesday's community lab discussion in Binghamton.

According to David Currie of the Binghamton Regional Sustainability Coalition, it goes beyond just buying local, but it can make a big difference.

"There is a certain nervousness about investing in small businesses on a local scale, but interestingly enough some students and researchers at MIT and others, including Michael Shuman, have done some research on this and it is clear that the return on investment locally will be significantly greater than one would make in the Stock Market," said Currie.

Currie added that it has been an ongoing discussion for the past three years, but now organizers are looking at how to implement this idea in the community.

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