Triangle Businesses Cashing In On 'Plenty' Of Currency
Posted July 11, 2003
ORANGE COUNTY, N.C. — Currency is taking on a new look in some parts of the Triangle.
The PLENTY was introduced last October as a local currency for Orange, Chatham, Durham and Alamance counties.
"By not being able to leave the area, it ensures that activity stays locally and that's the idea. Instead of globalizing, it's localizing," said Joe LoBuglio of N.C. Plenty.
the PLENTY has grown to more than 140. When they sign up, businesses are given an initial supply. They can use them for several things like buying supplies, paying employees and exchanging to customers.
The Weaver Street Market was one of the first businesses to sign up for the PLENTY. The currency's popularity at the store and in the area has grown considerably.
"If you look at the number of transactions that have NCPlenty involved in them every month, it's more and more transactions," said James Watts, of Weaver Street Market.
Watts said initially he was a little worried the store would accept too many of the PLENTY and not be able to spend them.
"With a small start-up organization, it was actually a fear that we had that has not come to pass at all. There have been plenty of places to use the currency," he said.
Terry Jones, who shops at Weaver Street Market, said she is considering using the currency herself.
"I like to support local businesses. I feel better about the community that I'm a part of it when I'm supporting it," she said.
The PLENTY was designed by a local artist and comes in denominations of $2.50, $5 and $10.