This September, the Yiftee team headed to Detroit, Michigan for the International Economic Development Council’s Annual Conference—and what a powerful setting it was! The conference brought together thousands of economic development professionals from around the world in a city that embodies resilience and reinvention. Detroit's transformation story made it the perfect backdrop for discussions about innovative strategies to build thriving local economies.
The conference offered an incredible opportunity to connect with economic development leaders who are working to accelerate prosperity and opportunity in their own communities. From innovative financing strategies to community-building programs, the conversations centered on one core theme: how do we create sustainable, inclusive economic growth that benefits everyone?
At Yiftee, we've developed a solution that addresses this challenge head-on. Our Community Card program provides local-only spending to multiply impact, measure results, and keep every dollar working locally. Whether cities are using ARPA funds, CARES Act dollars, or other public investments, Community Cards ensure that money circulates within the local economy rather than leaking out to national chains or e-commerce giants.
The beauty of the program is its simplicity and measurability. Economic development professionals can track exactly where funds go, see redemption rates in real-time, and calculate the multiplier effect on their local economy. It's the kind of accountability and transparency that makes Community Cards an ideal tool for maximizing the impact of public dollars.
Detroit doesn't just talk about economic development—they've put innovative programs into action. A perfect example is the Detroit Card, launched by the Downtown Detroit Partnership in 2022. This program showcases exactly what's possible when communities embrace local gift cards as an economic development strategy.
In 2022, the Downtown Detroit Partnership launched the Detroit Card, a digital Community Card redeemable at over a hundred local businesses. The program has generated $294,353 in direct economic impact, featuring strong corporate adoption and a strategic focus on holiday gifting to drive consumer purchases.
1. Direct Local Impact. Detroit Cards are exclusively redeemable at approved local businesses, ensuring every dollar supports Detroit's economy. With restaurants recirculating 73% and retailers 47% of revenue locally, the multiplier effect is significant.
2. No Cost to Implement. Free to administer for Detroit and its businesses with no special equipment required. Businesses receive payments directly.
3. Quick & Easy Redemption. Recipients tap-to-pay to redeem their digital cards at participating businesses.
The Detroit Card demonstrates how Community Cards can drive both consumer spending and corporate gifting during key purchasing periods. By making it easy for employers to show appreciation for their teams while supporting local businesses, Detroit has created a win-win-win scenario: employees receive meaningful gifts, businesses see increased revenue, and the local economy strengthens.
Throughout the IEDC conference, we spoke with economic development professionals from cities and towns across the country. Many are facing similar challenges: how to support small businesses, how to maximize limited budgets, and how to create programs that deliver measurable results. Community Cards address all three.
Unlike traditional economic development initiatives that can be costly and difficult to track, Yiftee's Community Card program is free for communities to launch and free for businesses to participate. There's no special equipment required—businesses simply key in the card's 16-digit code into their existing POS systems. And because cards are digital and closed-loop, every transaction is tracked, providing economic developers with the data they need to demonstrate impact.
Detroit's story—both the city's overall transformation and the success of the Detroit Card—reminds us that economic development is about more than attracting outside investment. It's about building from within, strengthening the businesses and entrepreneurs who are already part of the community's fabric.
As we left Detroit, we were energized by the conversations, connections, and shared commitment to creating opportunity and prosperity in communities across the country. Whether you're a Chamber of Commerce, Main Street organization, downtown association, or city government, Community Cards offer a proven strategy to keep local dollars local and build your economy from the ground up.
Yiftee now works with over 500 communities across the United States, helping them launch Community Card programs that drive real economic impact. From small towns to major cities like Detroit, the model works because it's simple, measurable, and focused on what matters most: keeping local dollars local.
Interested in learning how a Community Card program could work in your community? Contact Yiftee or schedule a demo to see how we can help you maximize public dollars, build your local economy, and create lasting impact for your small businesses.