3c hapter - Index of

96 Locavesting
In a twist of fate, Port Townsend’s missed opportunity in the
19th century has led to a modern- day revival. Many of the town’s
Victorian- era buildings, which might have been torn down in
a more robust economy to make room for new ones, were spared.
Restoration efforts began in the 1970s, and Port Townsend is
now listed on the National Register of Historic Places as one of
just three Victorian seaports. Those stately houses, along with the
town’s postcard- perfect setting between the Olympic Mountains
and the Port Townsend Bay, have lately drawn fl ocks of newcomers
who covet the beautiful architecture and quality of life.
These new residents, many of them retired doctors, professors,
and executives who have relocated here over the past couple
of decades, have led an economic revitalization of the town.
Rather than relying on railroads or outside investment, this is
a homegrown effort that aims to create a resilient local economy
less likely to be buffeted by the larger economic forces blowing
across the Sound.
Today, Port Townsend boasts a thriving farmers market and
a local food co- op. The historic Rose theatre, which operated
from 1907 to 1958, was reopened in 1992 with the help of local
residents, who put up around $85,000 and became shareholders
in the theatre. And new businesses are popping up all over town.
Keeping Money Local
The quiet force behind many of these developments has been the
Local Investment Opportunity Network, or LION, a group of residents
who banded together to connect local investors with small
businesses in Port Townsend and surrounding areas. The idea is
to help to local enterprises fl ourish and keep more dollars circulating
locally—money invested in and spent at local businesses
tends to stay in the area, benefi ting the local economy.
“That’s the way you keep profi ts local,” says Kees (pronounced
Case) Kolff, a retired pediatrician with a neatly trimmed silver beard
who’s been a LION member from the start. “We have so much
profi t going out of small communities to corporate headquarters—
it’s pitiful.”