Local Investment 101+
When: Oct. 3, 8 a.m. to 4 p.m.
Where: Traverse City Area of Chamber of Commerce Building
Why this workshop now?
First, there’s a growing body of evidence that local, small businesses are particularly critical for creating jobs.
Second, recent passage of President Obama’s JOBS package – one of the few bills in which Tea Party Republicans joined together with Occupy Wall Street Democrats -- means that crowdfunding (soliciting small dollar investments from large numbers of unaccredited investors) will soon be legal
Third, the structure of the workshop will bring together interested people in the region who should be working together on some of these local investment tools—but are not. The workshop will provide an great opportunity for identifying, mobilizing, and organizing dozens of people in the region interested in this topic.
The workshop will mix lectures, discussions, small-group exercises, and short films. The intention is to involve all the following kinds of individuals:
Local businesspeople looking for new sources of capital.
Investors at all scales, including those with modest incomes, tired of losing money on the mainstream stock exchanges. Economic developers and consultants in related fields with an interest in local business, economic gardening, local first, or entrepreneurship. Local bankers, credit union managers, investment advisors, brokers, pension fund managers—really anyone in the investment field looking for new products and services to deliver to their clients.
Local politicians looking for new ways to solve local problems.
Local philanthropists and community foundation leaders committed to community development. Professors and students involved in relevant fields in business, investment, economic development, planning, and local governance. Shuman argues that local investment could unleash a $15 trillion shift from Wall Street to Main Street, or roughly $50,000 per capita. This could be a total game changer for local businesses in our region.
Leading the workshop is Michael Shuman, one of the nation’s top thinkers and advocates for local business and local economies. His just published book, Local Dollars, Local Sense: How to Shift Your Money from Wall Street to Main Street and Achieve Real Prosperity (Chelsea Green), outlines dozens of ways individuals, businesses, and communities can reinvest their savings locally and improve their community’s prospects of securing more income, wealth, and jobs.