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Wellspring Cooperative

Wellspring Investment Fund - Direct Public Offering for Wellspring Harvest

INVEST IN YOUR VALUES! HELP US RAISE $200,000

Invest in Wellspring Harvest and help to grow a sustainable and resilient local food system, create good jobs, worker ownership, and community wealth building.

Wellspring Investment Fund is raising money to build Wellspring Harvest, a hydroponic greenhouse and community agricultural education center in Indian Orchard.

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.

COMMERCIAL HYDROPONIC GREENHOUSE


The Wellspring Harvest is a worker-owned cooperative that will operate a commercial hydroponic greenhouse in Springfield, MA, 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, and River Valley and Franklin Community food coops. 

The greenhouse will contribute to the much needed economic vitality and rejuvenation of the Indian Orchard neighborhood by creating at least nine  jobs.  Wellspring Harvest will play the role of catalyst for a healthy food preparation facility and a consumer food cooperative, which are natural annexes to the greenhouse. The job creation potential of such facilities significantly amplifies those directly created by the greenhouse itself.

The Cooperative will offer not only living-wages to its workers but also the opportunity to build meaningful equity in the company. Over the first ten-year period, we estimate that Worker Equity accounts will total over $500,000 in addition to total Cash Distributions of over $90,000.

Finally, the business model is strengthened by the support of the anchor institutions in and around Springfield, all vested in the development and well-being of the city’s residents.

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 agenda of the Wellspring Cooperative Corporation to create a network of community-based, worker-owned companies in inner-city Springfield, MA based on the purchasing power of area anchor institutions – the colleges, universities, and hospitals – that 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 Wellspring partners, 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 worker-owned companies. There are a number of businesses in development and Wellspring Harvest is the second worker-owned cooperative that Wellspring Cooperative has incubated. The first cooperative, Wellspring Upholstery, started in 2014, and is doing well and has 6 workers, 3 of whom have already become members of their cooperative.

AN OPPORTUNITY TO INVEST IN YOUR VALUES

  • A sustainable and resilient local food system
    • Provision of locally grown, year round, produce for local markets including Springfield schools.
    • This produce is safe and traceable. Growing hydroponically without soil means no risk of soil contamination.
    • Hydroponics uses only 10% the water and 15% of the nutrients compared to conventional agriculture. It uses integrated pest management, and can produce up to 10x the amount of produce per square foot as the traditional soil farming methods.
    • Integrated pest management is employed to grow without pesticides. Good as organic without the high price tag.
    • Elimination of long distance transportation reduces the carbon footprint.
  • 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.
  • Integration of community and school involvement, creating opportunities for education

READY TO TAKE THE NEXT STEP?

If you want to take the next step, take a look at the right hand column. You will find a link to the prospectus which lays out all the terms and the subscription agreement which is what you will fill out. You can send the subscription agreement along with a check to the address provided. Please contact us if you have any questions. 

 About Direct Public Offerings - a growing trend