In a groundbreaking initiative aimed at boosting the local economy, bridgewater, virginia has now put in place a local currency known as river roos. It was officially launched on November 1, River Roos seeks to promote local businesses while building a community spirit among the citizens.
The Project of River Roos’s Launching.
River Roos can be bought in physical form of cards with a unique image of a kangaroo or online. River Roos currency can only be used in the specified local shops that participate in the currency system with the majority found on Main Street. This approach aims at encouraging the residents to visit and spend money on the local establishments which helps in retaining the funds within the society.
Michael Morgan is the manager of New York Flying Pizza which is one of the businesses enrolled in the program. He voiced his delight for the initiative. “It’s currency the city of Bridgewater is providing to the community to help people get out to try some of the new restaurants, or restaurants they haven’t tried, to get more people interacting with the community,” Morgan said.
Effects on Local Enterprises
As a result of the establishment of River Roos, enhanced customer flow has already been observed in businesses like New York Flying Pizza. Morgan talked about an increase stating, “We’ve only just launched at the beginning of the month, and I’ve had quite a handful. It’s not a lot, but we most definitely have had many more people walk through the doors.”
The authorities in Bridgewater have disclosed that about $9000 has been spent by the local population on River Roos. The success at such an early stage proves that the currency aims at the local populace in purchasing goods and services locally and not in external businesses.
Community Response
In turn, the community has reacted positively to the currency that has been coined – the River Roos. One of them emphasized touched that the currency keeps a lot of money at the locality and does not outright leave it even to other towns which is great for economies of small towns like Bridgewater.
The businesses that accept River Roos are all indicated in the town website making it possible for residents to access the River Roos businesses. This kind of clarity and convenience also works to make the program more attractive and useful.
Broader Implications
The River Roos system’s creation is also consistent with the trends where the small towns are all surfering from the lack of economic activities creation even amongst themselves and even go ahead to pronounce the local currencies. These policies help to develop and promote local tourism as well as other businesses considering that customers are encouraged to say spend within the neighborhood.
Final Thoughts
The development of River Roos by Bridgewater is a great idea that is already yielding results at its nascent stage. The town has come up with local currency and in this way encourages its citizens to patronize local establishments, Internalizing interactions and expenditure within the given locality. With more residents and businesses joining the program, it is expected that there is going to be an upsurge in the positive effects which will, in turn, promote the economic growth and the social cohesion of the town even more.
Questions and Answers
What is River Roos?
River Roos is a town local currency initiative of Bridgewater Virginia aimed at motivating the residents to spend more locally. River Roos can be in form of gift cards sold online and physical stores and is used in local business who joined the program.
How can residents make use of River Roos?
River Roos can be used by residents in the local businesses that participates, most of them located on Main Street. The currency is meant to encourage the residents to go and support other businesses present within the area.
What effects has River Roos had on the businesses in the area?
Ever since its inception, there has been a rise in the number of customers visiting the businesses that are part of the River Roos currency scheme. For instance, the New York Flying Pizza has gained more customers ever since the program started.
To date, how much has gone to the River Roos?
Compliance to this figure, the community members have spent approximately $9,000 on the revenue stream, River Roos since its launch on 1st November.
What is the purpose of River Roos in the area?
River Roos, as hoped for by the citizens, enables the retention of cash and investment within the local sphere, encourages commerce and competition among small players as well as citizen engagements.
Where do residents look for more participating outlets?
The list of businesses that choose to accept River Roos proceeds can be found on the official website of the Bridgewater Town.
What is the significance to you of creating a currency such as River Roos?
The emergence of currencies at the local level such as River Roos is becoming common practice among the community which aim at increasing economic activities as well as enhancing participation in social networks. These promote the internal economy, encourage the growth of microfinance, and create a spirit of togetherness.