If you have a business and want to build up your local presences, then having a press release created and putting it in the local paper is a great way to do this.
Many companies have exciting news that simply does not get out to the general public as they do not know how to advertise it. You can of course advertise promotions, latest news and events on your website but this can often take a while to be picked up by the search engines and the event or promotion may have expired by the time it does.
Hiring a local PR company (especially one that is linked with the local newspapers) and asking them to write a brief article about the product / event or service you wish to promote often does not cost as much as you think. This article can then be distributed to all the local newspapers and magazines which will hopefully feature the story. This can be a great way to drive traffic to your site as well as getting you recognised in the local area.