TARP Makes A Ripple on Main Street (Is this a ray of hope?)

Here is a somewhat uplifting story by Carrie Kahn that I heard on NPR’s Morning Edition (Wednesday March 25th).

In Carmel, Bailout Money Makes It To Main Street

I encourage you to give it a read or a listen. Basically this story illustrates how one bank, Pacific Capital Bancorp, actually did what they were supposed to do with their TARP money… they lent it.

As a result a key local business was able to not only stay afloat, they were able to grow. And that one business’ new found vitality, courtesy of the loan from Pacific Capital Bancorp, made a positive impact on other businesses in the local economy.

I think it is important to share the good news when it is out there. I hope that you find this story as inspiring as I have. Buxton has developed hundreds of wonderful partnerships with cities across the nation. And we have always worked to provide services that can help Main Street and local businesses within our partner cities. During this recession we have seen many of our main street friends suffer through some hard times. It is good to see a bank like Pacific Capital Bancorp actually do what they are supposed to do. It is good to see Main Street actually start to get some help.

So what other “good news” stories like this are out there? There have to be more. We would love to hear from you. Please let us know what you are seeing in your corner of the world.

Chris is a member of the International Council of Shopping Centers, currently serves on the planning committee for the 2009 Conference of the International City Managers Association, and has served in an advisory and resource support role to multiple academic programs related to the field of consumer analytics. During his tenure with Buxton, Chris has worked as a senior analyst and project manager providing solutions for hundreds of retailers, healthcare providers, and cities.

Journey Awareness Persona Economic Development/Elected Official City Government