Bruce Nordstrom’s recent book, Leave It Better Than You Found It, contains one of the best development policies for the local economy. It is full of simple economic principles that created one of the most sustainable and remarkable companies to bless the local economy.

John W. Nordstrom, along with his fellow Klondike Gold partner Carl Wallin, founded their company in 1901. The mission statement was to create “the biggest and the best shoe store.”

Nordstrom was not spared the economic hardship of the Great Depression and the many recessions that have occurred in the decades since. So what enabled this startup business to grow from its first-day sales of $12.50 to over $9 billion in annual revenue?

Here are five simple elements that are just as valid today as they have been throughout the 109 years of the company’s history.

As the founders go, so goes the company, so goes employment, so goes the local economy, and so goes the community. In the statistical science this is called conditional probability − one event based on another.

Specifically, the founders and family members who continue to live here keep their companies grounded in the community. This is the case with four founders of Costco, who continue to live on the Eastside. The same applies to Bellevue Square with the Freeman family, Mutual Materials with the Houlihands, Microsoft and so many of the nation’s best companies.

“Where your treasure is there will be your heart, also.” (Matthew 6:21). These founders and families not only generate equity for their companies, but also contribute back to the community by supporting the arts and local non-profits. Estate and other taxes may have a potential for increasing public revenues, but more likely will result in corporate and family relocations. A recent local example is the relocation of Food Services of America’s corporate headquarters and executive leadership from West Seattle to Scottsdale.

“Expand first locally” is a principle based on the ability to grow within the local market versus the desire to grow. Based on Hebert Research’s current research findings, 83.9 percent of Eastside businesses plan to expand within the local market area first.

Among businesses with a corporate headquarters established locally, 94 percent have a high probability of retaining their current location. Quality of life, in terms of retail, recreation and education, continues to be a strong attribute for business retention.

Good communication between local government and local business is essential. There is a strong relationship between business satisfaction levels with government and the overall business outlook.

Jim Hebert is the president and founder of Hebert Research, Inc., an international real estate, land use, and statistical research firm in Bellevue.