The Economic Impacts of Nuestras Raices on the City of Holyoke: Current and Future Projections.
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The Economic Impacts of Nuestras Raices on the City of Holyoke: Current and Future Projections
Nuestras Raices Founded in 1992 Grass-roots community-based organization Emphasizes urban agriculture as a means of community development Seeks to build intergenerational connections through agricultural heritage
Nuestras Raices’ Current Resources Centro Agricola plaza for small business development and community education 8 community gardens and 2 youth gardens Tierra de Oportunidades farm site with educational programs, small business training, and cultural celebrations Women’s Leadership and Entrepreneur Group Environmental Health Coalition
Nuestras Raices impacts the local economy in 3 major ways: 1.Nuestras Raices’ annual operating budget of $560,000 results in an increase in the local economy of $1,031,759 2.The impact of non-local visitors attracted to Nuestras Raices sites in 2006 was $148,311 3.The impact of small businesses incubated through Nuestras Raices’ programs is $1,017,848 annually.
The impacts of Nuestras Raices are spread over a wide variety of sectors in the economy Cultural Greenhouse and Nursery production Educational services Business support services Power generation and supply Employment services –...and many more
As expenditures circulate through the local economy, household income is increased As households spend their income, even more sectors of the economy benefit Hospitals, physicians and dentists Food services Automotive dealers and repair Clothing stores Toy manufacturing –...and many more
Nuestras Raices plans $280,000 in capital projects in 2007 The impact on the local economy during the period these projects are undertaken is estimated to be $515,592
The capital projects will continue the development of the Tierra de Oportunidades farm site New farms Nature trails Outdoor stage for cultural performances Farm stand Historic barn for youth education and training programs
When the capital projects are completed.... It is projected the economic impact of new on-site businesses will be $1,071,369 annually It is projected the economic impact of additional visitors attracted from outside of Holyoke will be $711,892 annually
Economic Impacts of Nuestras Raices Annual Expenditures$1,031,759 Non-Local Visitor Spending$ 148,311 Incubated Businesses on-site$1,017,848 Current Annual Impact$2,197,918 Projected new businesses on-site$1,071,369 Projected increase in non-local visitor spending $ 711,892 Projected Future Annual Impact$3,981,179
Nuestras Raices impacts the community in many ways It creates jobs in the community It provides youth education programs It provides incubation sites for entrepreneurial development It develops programs to build community It provides unique cultural offerings for the enjoyment and benefit of the entire Holyoke community It is a setting in which community issues can be identified and solutions considered It has the potential to be part of a larger development plan for the city of Holyoke