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Invincible City Fredric Byarm Green, Light Industry
Regional Food Hub and Urban Farm Presentation
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HEROIC MEASURES TO CHANGE THE CITY OF CAMDEN, NJ
Over $60 million in project Financing over 21 projects leveraged over $1 billion in private investments
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Progress vs Disenfranchisement
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THE MISSING MIDDLE unemployment rate 24.4%
37% live below the poverty line Food insecurity 25% of households. (20,000ppl) Medium household income $25,000 Rental Burden 41.5%
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Ground Zero: Food Insecurity
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GREEN, LIGHT INDUSTRIAL JOBS REGIONAL FOOD SYSTEM & URBAN FARM
SOLUTION: CREATING 250+ JOBS IN 3-5 YEARS $25M in DEVELOPMENT $21M GROSS REVENUES 2024 GREEN, LIGHT INDUSTRIAL JOBS REGIONAL FOOD SYSTEM & URBAN FARM
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Harvesting Opportunity: The Power of Regional Food System Investments to Transform Communities
Investments in local and regional food and agriculture combat structural inequities—within both the food system and society at large. Federal Reserve Bank and the Board of Governors of the Federal Reserve System
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Top Recommendation Work with alternative models of grocery stores to locate in Camden City at prime or transit-accessible spots. The Delaware Valley Regional Planning- 2015
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Sustainability/ Sales Channels
Farmers’ Markets Community Market Food CupBoard Orgs Community Service Paris Produce Sales Institutional Sales Hospitality Sales Common Market contract Restaurant and Café operations
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Enough Fruits and Vegetables for the Entire Promise Neighborhood (14,500 people)
YES Six acres of greenhouse space 20 growers $14.00 per hour Revenue Projections $5,000,000 yrly Development Cost $7,000,000
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Cultivating Camden Market Opportunity of $155M to $258M annually
Anchor Institution Market $2M annually Delaware Valley Regional Planning Commission
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WHY CAMDEN ? Camden is within a two hours drive can serve the following Food Deserts Kensington, Pa Newark, NJ North Philadelphia, Pa Perth Amboy, NJ Norristown, Pa The Oranges Chester, Pa Trenton, NJ Wilmington, DE Atlantic City, NJ Dover, DE Pleasantville, NJ Vineland, NJ Bridgeton, NJ
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Expand the Virtual Supermarket program Recommendation of the DVRPB- Cultivating Camden Report- 2015
Grocery Smartphone App Ordering food over the phone Customer can choice delivery location Customer can use SNAP and WIC benefits Customer can take health screening test Customer incentivized to purchase healthy food items, healthy activities
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Approximately $1,000,000.00 annually
ICF first and “only” Urban Farm in the State of NJ certified to receive WIC dollars Able to source crops from other Urban Farmers and Community Gardens and offer the to WIC receipts
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ICF Combined Financial Projections
Revenue Total Outflows Year 1 $12,415,559 $21,772,247 Sales for wholesale food hub Year 2 $14,111,121 $13,195,308 With about $2.4 million in annual sales, a food hub would begin to earn sufficient revenue to provide longer-term viability Year 3 $16,032,964 $14,431,992 Year 4 $24,849,572 $15,524,737 Year 5 $22,414,155 $16,044,226 Food hub expenses to retain 25 percent of sales revenue to cover operations, a food hub would need to obtain about $1.72 million
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Overview of Social Return on Investment
Five Year Return on Seed Funding Blight Reduction $5.28m Improved Social Services $744k Health Outcomes $1.51b Environmental Benefit $25k+ Poverty Reduction $16.2m Community Investment $5.94m For every dollar spent, there is a $74.67 social return on investment
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