Nexus Community Partners’ Shared Ownership Center awards $420,000 to four Saint Paul worker-owned cooperatives
SAINT PAUL, MN—Today, the Shared Ownership Center at Nexus announced its first four grants awarded to Storehouse Grocers and Coffee Co-op, Twin Cities Impact Cooperative, Terra Firma Building and Remodeling Cooperative, and The Improve Group. The LOCAL Fund: Worker Ownership is a grant program in partnership with the City of Saint Paul’s Office of Financial Empowerment.
The awards represent the deep investment the City of Saint Paul is making in worker-owned cooperatives. In addition to the financial awards, grantees received and will continue to receive free technical assistance from the Shared Ownership Center to support their continued development.
“The City of Saint Paul is excited to invest in shared ownership as an approach to building a vibrant and equitable economic future for our residents and communities,” said Ikram Koliso, Interim Director of the Office of Financial Empowerment. “The LOCAL Fund is a commitment to what that future can look like.”
The grant to Storehouse Grocers and Coffee Co-op will support the buildout of their new North End location at 1067 Rice Street, which will include a coffee-roasting operation, a micro grocery store, and cafe. Currently the co-op has five worker-owners, two of which are graduates of Social Kitchen Fellowship, a workforce development program.
The grant to Twin Cities Impact Cooperative will fund culturally responsive, in-home care services. They plan to build their customer base by offering meal preparation, non-emergency medical transportation, and homecare services, with the goal of opening an adult daycare facility.
The grant awarded to Terra Firma Building and Remodeling Cooperative will expand their cabinet production and workforce in the Creative Enterprise Zone. Founded in 2013 by a summer camp crew, this growing construction co-op creates beautiful, custom-made homes.
The grant awarded to The Improve Group will supplement a significant investment in upgrading their technology, including devices and networks. The Improve Group is an evaluation consulting firm that transitioned to a worker-owned cooperative in August 2023.
Employee-owned businesses, such as co-ops, create a 92% increase in household net worth, a 33% higher hourly wage, and 53% longer job tenure.* By resourcing shared ownership, the LOCAL Fund builds community wealth, anchors jobs locally, grows the local economy and tax base, and centers an ownership culture uplifting residents of Saint Paul now and for generations to come.
“We are immensely grateful to the City of Saint Paul and Nexus Community Partners for recognizing the importance of worker ownership that builds immense wealth in our community. This grant is an investment into generational wealth for people who love Saint Paul and call it home.” – Carl Johnson, Founder of Storehouse Grocers and Coffee Co-op
Comprised of two programs, the LOCAL Fund leverages $2.5 million dedicated to supporting worker-owned cooperatives and community ownership entities in Saint Paul. The LOCAL Fund: Worker Ownership offers grants and technical assistance for worker co-op startups, conversions of existing businesses, and existing co-ops. The LOCAL Fund: Community Ownership supports community ownership entities, like real estate investment cooperatives, with grants and technical assistance for predevelopment, acquisition, demolition, and rehabilitation of commercial properties.
The Shared Ownership Center led a multi-modal outreach campaign to connect with community organizations, leaders, and businesses by meeting with key stakeholders, presenting at District Council meetings, sending letters to 725 Saint Paul business addresses, tabling at events, and hosting a seven-part business planning webinar series for potential startup co-ops and businesses interested in converting to a co-op.
This project is being supported, in whole or in part, by federal award number SLFRP1612 awarded to Nexus Community Partners, through the City of Saint Paul, by the U.S. Department of the Treasury.
The LOCAL Fund: Worker Ownership and Community Ownership programs have rolling applications. Schedule a consultation to learn how you can apply here.
*Source: 2018 update on Employee-Owners (NCEO), https://www.ownershipeconomy.org/research/2018-update/ By resourcing shared ownership, the LOCAL Fund builds community
