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Date: 7/15/2020
EASTHAMPTON – River Valley Co-op expects to complete the construction of their new Easthampton grocery store in the spring of 2021 and open the doors by July 1, 2021.
Construction started in February but had to stop in April because of Covid-19. After safety guidelines were put in place, construction resumed.
River Valley Co-Op received economic development funding for this 18 million dollar project through a program called New Markets Tax Credits (NMTC), a program supported by Congressman Richard Neal. It was designed to support projects that create jobs and support community needs in qualifying low-income census tracts.
This program also helped them to open their first store in Northampton 12 years ago.
“The shortest way to explain the importance of the New Market Tax Credits economic development funding is that it makes impossible projects possible,” said General Manager Rochelle Prunty.
Along with them receiving the tax credit, they raised funding from their co-op owners, secured financing from a local bank, ESB Bank. River Valley also had the support of the City of Easthampton with a MASSWorks funded grant that enabled important infrastructure to be completed for improved traffic flow and pedestrian access.
The purchase of the site for the store included the facility rented by Capitan Jack’s Roadside Shack. To help keep them in business during the construction, River Valley Co-Op purchased a custom-built food concession trailer fully equipped to Captain Jack’s specifications. The store is now leasing this food concession trailer and food prep storage access to the current shack facility for $1 per month.
The new Easthampton store will be starting with 75 new jobs right away and building up to 100 or more within the next few years, if not sooner.
“The community support has been phenomenal and heartwarming. We are looking forward to opening in 2021. Cooperative businesses are focused on community needs because they are owned by the community. Good union jobs, supporting local farmers and food producers, and improving access to fresh healthy foods is more important than ever for building a better future” said Prunty.