PMSA Executive Director
Peabody Main Street Association’s Economic Restructuring Committee has been hard at work over the past several months coming up with ideas to prevent leakage.
Leakage occurs when local residents travel out-of-town for shopping. Vital sales tax dollars used by the local municipality for fixing potholes, replacing curbs and sidewalks, etc., are lost to neighboring towns. Leakage has become a huge problem for most small towns to compete with due to “big box” businesses and their never-ending list of “good deals” and sales.
In an effort to combat this recurring problem, Peabody Economic Development Council is planning to unveil a local shopping campaign after the first of the year.
“Shop Peabody” will encourage local residents to save their gas money by shopping in town. The main tool in the Shop Peabody toolbox will be a discount card for residents.
As I write this, Peabody business owners are contemplating “special offers” to be placed on the back of the “Shop Peabody” card. Residents then will present their cards at local businesses to receive the corresponding discounts on the back. Through public relations, advertising, and various other promotions, Peabody Main Street Association and the PEDC will encourage local residents to shop at home first.
Peabody needs the tax dollars more than our neighbors do!