Twitter began a rollout of a new Local Trends feature last week, and now the company reports Local Trends is live to all.

Once you set your location, Local Trends allows you to see what conversational trends are popular nearby. The cities list is still limited for now, but the selection area indicates Twitter is “working on it” to expand the number of supported localities.

Changing your location immediately updates the list of trending topics in the right-hand sidebar of your Twitter.com home display. The below screenshot shows Local Trends in action in the Los Angeles area.

I could see this feature being very useful to small businesses, particularly if they can help shape the conversation.  I wonder what they might use to do a social media campaign…