Small town launches its own stimulus: a local currency
North Fork, CA – Located almost in the dead center of California, North Fork is like a lot of other rural outposts: It’s losing businesses and hopes for a turnaround.
But there’s nothing typical about the town’s biggest booster, Josh Freeman. His efforts to resuscitate this tiny town include launching a local currency emblazoned with butterflies and hummingbirds in a bid to keep wealth in the community.
Freeman grew up in Pacific Palisades and drives a car powered by vegetable oil. Until a few months ago he wore dreadlocks down his back. To make a living, he repairs computers and develops websites. And he has an unshakeable belief that small-town life is not only worth reviving, but also essential to preserve.
“Wall Street is making more money than it’s ever made, and Main Street is evaporating,” said Freeman, sitting in his studio, which also serves as the town’s yoga studio, karate classroom and concert hall. “That’s unsustainable.”
Nestled in the foothills of the Sierra Nevada near Yosemite National Park, North Fork is one of scores of struggling towns across the United States. Many rural areas in eastern California and western Nevada shed residents between 2005 and 2009, according to recent census data. The rural California county of Inyo, for example, lost 2.8% of its population from 2000 to 2009. The U.S. population grew by nearly 10% over the same period.
