Franklin County Community

COMMUNITY ECONOMIC DEVELOPMENT

THE WESTERN MASSACHUSETTS FOOD PROCESSING CENTER'S (WMFPC)MISSION IS TO PROMOTE ECONOMIC DEVELOPMENT THROUGH ENTREPRENEURSHIP, PROVIDE OPPORTUNITIES FOR SUSTAINING LOCAL AGRICULTURE, AND PROMOTE BEST PRACTICES FOR FOOD PRODUCERS. THE WMFPC IS A NATIONAL MODEL, OFFERING WRAP-AROUND SUPPORT TO HELP FARM AND FOOD BUSINESSES LAUNCH, SCALE, AND SUSTAIN THEIR BUSINESSES. 65 SMALL FOOD ENTREPRENEURS, START-UPS, AND FIFTEEN (15) LOCAL FARMS USED THE FACILITY AND/OR ITS RESOURCES IN 2022. SINCE OPENING IN 2001, OVER 500 LOCAL FARMS AND ENTREPRENEURS HAVE BEEN SUPPORTED BY THE WMFPC.

VENTURE CENTER - REVENUE $212,426, EXPENSES $152,229 THE COMMERCIAL REAL ESTATE PROGRAM CONSISTS OF A VENTURE CENTER. THE VENTURE CENTER IS A RENOVATED INDUSTRIAL BUILDING AND OPERATES AS A SMALL BUSINESS INCUBATOR. THE CENTER PROVIDES INDUSTRIAL OFFICE SPACE AND OTHER RESOURCES FOR START-UP BUSINESSES TO KEEP THEIR CAPITAL COST LOWER DURING THEIR EARLY YEARS OF OPERATIONS. 55 BUSINESSES HAVE OPERATED AT THE VENTURE CENTER SINCE 1989. MANY HAVE GROWN UP AND OUT AND HAVE CREATED THOUSANDS OF JOBS IN THE COMMUNITY.RACIAL JUSTICE - REVENUE $128,404, EXPENSES $112,700THE RACIAL JUSTICE INITIATIVE PURPOSE IS TO WORK WITH BUSINESSES IN FRANKLIN COUNTY TO HELP MAKE THEM MORE WELCOMING AND INCLUSIVE. THE RACIAL JUSTICE INITIATIVE SUPPORTS LEADERS AS THEY FOCUS ON THE BUSINESS COMMUNITY TO FURTHER RACIAL EQUITY IN THE WORKPLACE AND IN THE COMMUNITY THROUGH COMMUNICATIONS, PROGRAMS, AND PRACTICES. IN ORDER TO EXPERIENCE AN ACTUAL IMPACT, THE RACIAL JUSTICE INITIATIVE ENCOURAGES BUSINESSES TO LOOK AT EXISTING WHITE DOMINANT CULTURE AND FOCUS ON STRUCTURAL CHANGE, SUCH AS THE IMPROVEMENT OF OUTREACH EFFORTS TO RECRUIT DIVERSE TALENT AND ADDRESS IMPLICIT BIAS IN THE WORKPLACE. THE INITIATIVE STARTED IN NOVEMBER 2020 AND HAS CONNECTED WITH OVER 80 EMPLOYEES AND EMPLOYERS.MAAIC - REVENUE $113,030, EXPENSES $103,073THE MASSACHUSETTS AGRICULTURE INNOVATIONS CENTER, CREATED IN 2022, IS A NETWORK OF BUSINESS-ASSISTANCEPROVIDERS ACROSS MASSACHUSETTS THAT HELPS FARMS LAUNCH AND SCALE NEW VALUE-ADDED PRODUCTS.

THE LENDING PROGRAM AT THE FRANKLIN COUNTY COMMUNITY DEVELOPMENT CORPORATION RAISES CAPITAL FROM BOTH PUBLIC AND PRIVATE SOURCES TO PROVIDE FINANCING FOR BUSINESSES, START-UPS AND EXPANSIONS. FOR THE YEAR ENDED JUNE 30, 2022, 28 LOANS WERE MADE FOR AN AGGREGATE AMOUNT OF $1.96 MILLION. AS OF JUNE 30, 2022, THE ORGANIZATION WAS SERVICING 119 LOANS WITH AN OUTSTANDING BALANCE OF APPROXIMATELY $5 MILLION, WITH A DELINQUENCY RATE ABOUT 2.5%. THIS PROGRAM HAS SUPPORTED HUNDREDS OF SMALL BUSINESSES AND ENTREPRENEURS THAT HAVE IN TURN CREATED WELL OVER 1,500 JOBS AND LEVERAGES MILLIONS OF DOLLARS OF ADDITIONAL PRIVATE CAPITAL INVESTMENT.

THE BUSINESS DEVELOPMENT PROGRAM CONSISTS OF ASSISTANCE TO BUSINESS OWNERS WITH BUSINESS PLANNING, STRUCTURING AN ORGANIZATION, CREATING A BUSINESS PLAN, SETTING GOALS, MARKETING, OPERATIONAL CONTROLS, AND CREATING A FINANCIAL PLAN. THIS PROGRAM HAS EXPANDED ITS REACH TO NOW INCLUDE HAMPSHIRE AND NORTHERN BERKSHIRE COUNTIES. HUNDEREDS OF CLIENTS WERE SUPPORTED THIS PAST YEAR, WITH 92 OF THEM RECEIVING MORE THAN FIVE HOURS OF ASSISTANCE.