Expand local food production and distribution with over a $1.00 million dollars in increased food and produce purchases from local farmers and food producers
Create 78 full-time employment jobs within the first year that will pay a weighted average wage of $18.03/hour with the anticipation to grow into 100 Full-Time employees by year five
10% of the Construction Costs will be allocated to Minority-Owned Contractors
Be an active catalyst within the community by aligning itself with the Easthampton Community Master Plan and being a Transit-Oriented Development
Target 100% power for the grocery store from solar panels that will be installed on the roof during development
NCIF: $5 million NMTC allocation
CDFI Partner: Amalgamated Bank, Massachusetts Housing Investment Corp. and Vermont Rural Ventures
Large Bank: Capital One
River Valley Co-Op was founded in 1999 as a food co-operative in Northampton, MA. Within 20 years, the Co-op has grown to over 10,000 owners and serving over 10,000 customers per week at their first location in Northampton. The store features fresh, healthy food from over 150 local farmers and producers. In the last ten years, the ownership has quadrupled and revenue has grown exponentially. River Valley is a union employer with 159 employees, which over 90% are full-time employees.
River Valley Co-Op II is located in a severely distressed area of Easthampton, MA. The funding will be utilized to repurpose a former 22,000 sq. ft. auto dealership in a Food Desert as identified by the USDA. The project will provide over 7,600 local residents with improved food access and quality.