By Heidi Adami, Capital Campaign Coordinator
We are delighted to report that, since its launch this past fall, GreenStar’s Owner Investment Program has raised over $500,000. As of press time, GreenStar owners have invested $547,000 — one-third of our minimum goal of $1.5 million!
We have every reason to believe we will reach that goal during our spring campaign, and, if we maintain the remarkable levels of average owner contribution that we’ve seen in the fall, we can reach our ultimate goal of $2.5 million. As of mid-January, the pre-construction work on the new store has begun! We are on-track to open the doors at 770 Cascadilla Street in early spring of 2020, but we need the support of our owners!
Why should owners invest?
“Our new store will deliver an unmatched shopping experience to our community with an equal emphasis on service and selection,” notes our General Manager, Brandon Kane. “We will be your one-stop shop for local and international foods. We need our owners to rally around this project and continue to invest in our cooperative growth.”
Investing directly benefits the Co-op and its owners financially: The more owners invest, the less GreenStar needs to take out in bank loans and the better rates and terms we will receive on any necessary financing. More owner investment means more financial benefit for our owners rather than traditional lenders — we would prefer paying dividends to our owners rather than interest to banks!
Investing in GreenStar’s expansion ensures greater accessibility for all of our shoppers through wider aisles, safer parking, increased seating, and a more diverse, expanded product line. Our economic impact on the community will increase with the addition of approximately forty new jobs, along with more shelf space for greater distribution of locally grown and produced items. We’ve estimated that in its first year of operation, our new West End store will provide an additional $2 million in sales of local goods. That’s something to be excited about!
Investing means increased access to healthy foods with an expanded FLOWER program. Since it was introduced seven years ago, FLOWER has allowed more than 1,600 members of our community to save more than $500,000 off their collective grocery bills. Increasing the size of our stores will allow us to grow this program and serve our owners on an even larger scale.
Cultivate Your Co-op, Invest in Our Vision
Supporting your community-owned co-op represents a truly local, socially responsible investment that ensures GreenStar will deliver on the triple bottom line of People, Planet, and Profit. GreenStar owners currently residing in the state of New York can learn more about making an investment by contacting Heidi Adami and Laura Buttenbaum via email or 607-220-7887, or visiting our webpage.