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Direct Public Offering for Wellspring Harvest Cooperative

11 May 2016 9:12 AM | Scott (Administrator)

Wellspring Investment Fund - Direct Public Offering for

Wellspring Harvest Cooperative

Springfield's source for year-round local produce 

10,800 sq ft  commercial hydroponic greenhouse, growing lettuce, greens and herbs

And a 1,000 sq ft agricultural education and training Greenhouse 

An opportunity to invest in your values! 

We are seeking investments of a minimum of $1,000 ($5,000 for qualified investors) with a minimum five (5) year term at 3% interest paid after two years.

Your investment will support

  • A sustainable and resilient local food system
    • Locally grown, year round, produce for local markets including Springfield schools.
    • Hydroponics uses only 10% the water, 15% of the nutrients and can produce 10 times the yield compared to conventional agriculture. Integrated pest management - close to organic with a lower price tag.
    • Elimination of long distance transportation reduces the carbon footprint.
    • Safe and traceable produce. Growing hydroponically eliminates the risk of soil contamination.
  • Local job creation in Springfield’s under-served communities.
  • Worker ownership, profit sharing and asset building opportunities.
  • Wellspring cooperative businesses are connected through a mutually supportive network to increase their resiliency.
  • Contribution to the vitality of the local economy.
  • Community and school involvement, creating opportunities for education and hands on experience


Wellspring Harvest 

Wellspring Harvest is a worker-owned cooperative that will operate a commercial hydroponic greenhouse in Springfield, Massachusetts, supplying fresh greens all year round to institutional, retail and local community markets. Intent to purchase letters have been signed with Baystate Medical Center, Springfield and Worcester Public Schools, Squash Trucking, Big Y Supermarkets, and River Valley Market and Franklin Community food coops.

The greenhouse will contribute to the much needed economic vitality and rejuvenation of the Indian Orchard neighborhood by creating good jobs and serving as a catalyst for other affiliated ventures such as food processing and a food cooperative. Worker-owners will also be able to build meaningful equity in the company. 

COMMUNITY AGRICULTURE EDUCATION CENTER.

The Cooperative also plans to develop a certification program that will allow students from local high schools, community colleges and universities to acquire practical and “in-demand” skills to operate and manage a growing number of hydroponic projects nationwide. The site will serve as a laboratory for the community and students to gain hands on experience in urban agriculture. The community and educators are already involved in providing input into the site plan and how it can be used for projects such as community gardens, edible landscapes, composting, vermiculture, aquaponics, and energy production through a bio-digester.

BROADER IMPACT

Wellspring Harvest Greenhouse is part of the broader mission of the Wellspring Cooperative Corporation to create a network of worker-owned companies supported by the purchasing power of area anchor institutions that provide jobs for low income residents of Springfield, MA.  Anchor institutions purchase more than $1.5 billion worth of goods and services a year, largely from outside the region. A number of these anchor institutions are working with Wellspring to keep more of their purchasing dollars circulating locally, including Baystate Health, Sisters of Providence Health System, University of Massachusetts, Western New England University and Springfield Technical Community College.

The 5 year goal of the Wellspring Cooperative is to create over 100 jobs through 10 new worker-owned companies. Wellspring Cooperative has a number of businesses in development and Wellspring Harvest is the second worker-owned cooperative that the network has incubated. The first cooperative, Wellspring Upholstery, started in 2014, and is doing well with 6 workers, 3 of whom have already become members of their cooperative.

For More Information about this investment opportunity, a prospectus is available at: 

http://wellspring.coop/support/wellspring-investment-fund

Or Contact:    Fred Rose, frose@pubpol.umass.edu  413-522-2204

                       Emily Kawano, emilykawano@gmail.com

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