Futures Forum: An Exeter Pound... launch event Weds 24th September
... went very well:
BBC News - Exeter pound plan for local currency
And the media seems very interested:
Search for famous faces to front new local currency
By Western Morning News | Posted: September 16, 2014
A second unofficial currency is to be launched in the Westcountry, following the runaway success of the Totnes pound.
Exeter is set to follow the example of the South Devon town, which launched new £5, £10 and £21 bills as part of its second phase this year. The city will unveil its ambitious new pound at the Bike Shed Theatre next Wednesday and hopes to begin circulating the notes next September.
The initiative would see up to four separate notes printed to a total value of around £100,000 and follows similar projects in Bristol and Brixton, in South London.
Daniel Hillier, a member of the steering group, said the aim was to keep “spending power” within the local economy and revealed that more than a hundred local shops had already expressed interest in accepting the bills.
He added: “Statistics show that if spend £1 in a generic supermarket only 35 pence remains in the local economy whereas the same amount spent in an independent shops produces £1.73, so there is a multiplying effect. Exeter Trails, which represents 101 independent traders, is very, very keen and businesses that join should also be able to use it to pay their business rates.”
A steering group was set up by Transition Exeter in 2013 to research other local currencies, with support from the city council. The project is seeking grant funding from the Lottery, the Tudor Trust and Devon Community Fund, and is expected to cost up to £30,000.
A design competition will be launched in January to choose images to illustrate the £1, £5, £10 and £20 notes.
The Totnes scheme, which launched a £1 note in 2007, features notable citizens from the past, such as Charles Babbage and Mary Wesley along with modern hero, signer songwriter Ben Howard.
Residents will be asked to say what defines the city for them and what notable Exonians might be appropriate.
A launch date of September 2015 could mean a tie-in with the Rugby World Cup, which stages three features at the city’s Sandy Park stadium.
The Exeter Pound will track sterling and will be available on a one-for-one basis from service points throughout the city. It will be a paper and electronic currency with payment by text and the possibility of Internet banking.
Pete Ashton, national policy vice-chairman of the Federation of Small Businesses, said he was “delighted to be involved” in the venture. “It’s great to see Exeter pushing the boundaries and thinking outside the box on ways to help and support local independent businesses,” he added.
The launch event next week starts at 5.30pm with free nibbles in the bar, followed at 6pm by a presentation by Martyn Goss, director of Church and Society, and Victoria Hatfield from Exeter, City Council.
Search for famous faces to front new local currency | Western Morning News