Economic Localization

Economic localization is the strategy of prioritizing the development and support of local businesses and industries within a specific area. Instead of relying heavily on imports or external companies, it aims to strengthen the local economy by encouraging local production, employment, and consumption. This approach can enhance economic resilience, reduce dependence on global supply chains, and foster community growth. Essentially, localization keeps more economic activity and benefits within the community, promoting sustainability and self-sufficiency while maintaining connections to the broader economy.