Borrell: Local Online Spending Soars 28 Percent »

Local online advertising is exhibiting explosive growth, boosted in a large part by old media, said a new report from Borrell Associates.

Spending on local online advertising reached $2.7 billion in 2004, up 28 percent from the previous year, according to the report. And that figure is expected to soar this year, as Borrell predicts growth of 46 percent as spending reaches $3.9 billion.