Fund Update

We are thrilled to announce six investments in good food businesses in Grand Rapids, Kalamazoo, Southeast Michigan, and the Upper Peninsula marking more than $10.3 million in investments since the fund launched nearly two years ago.

Together, these projects span the state and the good food value chain from retail to processing projects. They are not only increasing access to healthy food, but also creating jobs and sparking economic opportunity in Michigan communities.

See below for more information on these investments, plus new resources from the field including an economic analysis of Michigan’s food retail industry and updated editions of funding sources for food businesses as well as a bibliography on structural racism in our food system.

And if you haven’t visited us lately, check out the updated MIGoodFoodFund.org which includes new eligibility and financing pages, plus spotlights on financing and business assistance projects.

$10+ MILLION IN FUND INVESTMENTS 

Grand Rapids

• Diamond Place – $3,645,600 Financing: This $42 million mixed-use project brings together 100+ affordable housing units plus 22,000 square feet of retail space anchored by a community grocery store. Slated for completion in summer 2018, it will create an estimated 200 construction jobs and 150 permanent jobs.
• Ken’s Fruit Market – $445,000 Financing: This multi-site family-owned grocery store features high-quality food at low prices. The focus is on fresh produce with strong local sourcing. Financing was provided to improve operational efficiencies. Together the three stores support 30 part-time and 40 full-time jobs.

Kalamazoo

• Park Street Market – $6 Million Financing: As part of an $8 million New Markets Tax Credit transaction, this project will open a second Park Street Market location. The store will offer fresh, affordable food and anchor a revitalized retail plaza, creating an estimated 13 construction jobs and 165 permanent full-time positions hired from the community.

Southeast Michigan

• FEAST-Detroit – $180,000 Financing: This project establishes a new commercial kitchen and processing center. Located in Inkster, it will be co-owned and serve as a home base for three established companies—Marcia’s Munchies, Scotty O’Hotty, and Premier Foods—and provide a critical processing resource for other area food entrepreneurs. FEAST will create six new full-time positions.

Upper Peninsula

• Flying Moose – $68,128 Financing: This healthy food outpost opened a second location in the downtown Marquette public library, creating two new part-time jobs. The café sells healthy prepared foods featuring locally sourced produce, products, and meats.
• Little Owl’s Organic Grocery – $46,081 Financing: This Menominee-based grocery store provides nutritious produce at a competitive price spotlighting locally grown fruits and vegetables. When it opened in August 2016, it created the sole outpost of organic goods within a 50-mile radius. It has created five new full-time jobs in this rural community.

RESOURCES FROM THE FIELD

New Funding Sources for Food-Related Businesses, NEW Edition

Structural Racism in U.S. Food System, Updated Bibliography

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Michigan Good Food Fund is $30 million public-private partnership that provides financing and business assistance to good food enterprises that benefit underserved communities across Michigan. Dig in MIGoodFoodFund.org