The Denton Record-Chronicle has joined the ranks of small-town newspapers across the country rallying behind a community effort to save local economies.

And all it takes is $20.

The game plan, based in part on a blog, is for residents to each spend $20 in their communities on the 20th of the month and to let ripple-effect economics take over.

Small-town newspapers across the country including the Aiken Standard in South Carolina, the Cherokee County Herald in Alabama and The Times-Tribune in Kentucky also have asked residents to join in the program.

The promotion is important for Denton retailers and Record-Chronicle readers alike, said Bill Patterson, publisher of the newspaper.

“It is very important for us to help our retailers and readers find opportunities to shop locally,” he said. “Not only is it important for our stores and shoppers, but the impact on our city can be tremendous.”

For every dollar spent in Denton, there’s a ripple effect in the local economy that multiplies with each dollar spent for a much larger impact.

With more than half a million residents in Denton County, if everyone spends $20, it could have a significant impact on the economy — up to $20 million, said Bernard Weinstein, director of the University of North Texas Economic Development and Research Center.

However, what’s critical is that the $20 is new spending taken out of savings for the specific purpose, not just substitute spending, such as a lunch, he said.

“If everyone takes $20 out of savings, it will have some economic impact,” Weinstein said. “But it depends on how much is spent and how much spending stays in Denton County and how much leaks out.”

Tracking the economic footprint is difficult, but the program could potentially double each dollar spent Wednesday, said Antonio Puente Jr., revenue and treasury analyst for the city of Denton.

If consumers spend money at local stores, the store could then spend their operating dollars locally and further the tax and economic benefits to the community, Puente said.

“Those stores … will have more of a local impact,” Puente said.

Small-business owners are excited about the initiative and are hoping for crowds of customers looking to spend $20 on Wednesday, said Julie Glover, economic development program administrator for the city.

“I think it’s a great idea with people watching their money right now, and $20 is a good price point, especially for small-business owners,” Glover said.

Several businesses around town are offering sales Wednesday in hopes of paying the community back for its economic support.

The concept should bring needed support to local businesses, and consumers will be rewarded with good deals, said Aida Zihuatanejo, marketing director at Golden Triangle Mall.

For financial adviser Quinn McColly, the program is a morale booster. With many businesses struggling, participating consumers will feel good about spending some money, McColly said.

On Denton’s downtown Square, home decor store Madison Jane is slashing prices on some items to $20 and will serve refreshments in honor of the day, said owner Wendy Broyles.

“I can’t wait to see everyone come in,” she said.

Like other small-business owners, June M. Schiada of PJ’s Party Supply off Interstate 35 is feeling the effects of the global recession, working more hours to save on employee payroll. But Schiada said the $20 on the 20th program has led to high hopes for local retail sales.

Schiada said she would do her share to jump-start the economy.

“I will definitely go out and spend my $20 as well,” she said.

Staff writers Karina Ramirez, Lori Forgay and Dawn Cobb contributed to this report.

CANDACE CARLISLE can be reached at 940-566-6889. Her e-mail address is ccarlisle@dentonrc.com