Circumspice — May/June 2022 Issue
teamwork makes the dream work
The Keweenaw Co-op is the Copper Country’s only community-owned grocery store — a place where neighbors can come together for fresh, whole, real food as well as community and food-centric education. The Co-op has purchased the former home of Keweenaw BUICK | GMC property at 612 Quincy Street in downtown Hancock, and it will take $7 million to transform the empty space into a fully stocked grocery store.
“Our Keweenaw Co-op implements a business philosophy that values much more than just the bottom line,” says Jacobsville resident Lisa Reitz. “It’s one that focuses on healthy people, food and community”.
Adds Deborah Mann, Hancock Downtown Development Coordinator: “We are thrilled that the Keweenaw Co-op is committed to the city of Hancock, and the new store will be a welcome addition, bringing renewed vitality to our downtown community.” The Co-op is owned by over 2000 members of the community and currently employs a staff of over 40 people, with over $4.8M in sales annually. In addition, it has provided over $20,000 in annual donations to the community and the Western UP Food Bank. The Co-op sold over $300K in local products last year. “Not only does the Co-op have the best selection of local produce, but they also have knowledgeable staff that educates me on how to use it,” says Margaret Hanson, cooking instructor from Teach to Taste in Hancock. “Their commitment to food education makes a difference!”
Keweenaw Co-op plans to raise over $1 million to finance equipment, inventory and other expenses within the new location. Michigan residents and entities can invest via Non-Voting Investment Certificates. Investors will receive a respectable return and the satisfaction of knowing their investment resonates with their values and remains in our Copper Country community. “Local investors’ participation in financing the new store will increase the quality of life for our entire community,” said Curt Webb, General Manager of the Co-op. “The community response to the project plans has been overwhelmingly positive so far. We already have $100,000 in pledges to invest,” said Curt. The minimum investment is $2,000, but to meet the goal The Co-op needs some community members to invest $10,000, $20,000, $50,000 or even more.
“I am inspired every day by people in our area choosing to keep their dollars locally and invest in our community-owned store,” says Cynthia Hodges, Capital Campaign Organizer. “It’s truly a way to support Main Street, not Wall Street. An expanded Co-op means more local jobs and an increased market for locally grown and produced goods. When you invest in our Co-op, your money works so hard it sweats!”
For more information about investing, please email email@example.com or call (906) 482-2030 and ask for Cynthia Hodges or Curt Webb. This information does not constitute an offer to sell or a solicitation of an offer to purchase securities and any such offer or solicitation can only be made via the Co-op’s Offering Memorandum.