Although it will help, depending on the ability of the talent. You local station is capable of producing the commercial. But a studio gives you the luxury of time, and it does take time to produce a quality radio commercial. Most radio stations want to get you in and out of the production room as quickly as possible. Don't think short term.
Repetition is the key.
Time is your most effective weapon. View your ad as an imaging' vehicle. Each time an audience member hears your commercial, an image of your company is painted in their mind. You control that image with the quality of words, voice, production and the deal' offered. Use it to your advantage.