Lettuce project investment: Endless Harvest asks JSDC Executive Board for $2 million loan
December 18, 2012 at 1:00 am in The Jamestown Sun
Organizers of Endless Harvest, the controlled-environment agriculture lettuce project planned for Jamestown, are looking for $2 million in loans from local development agencies to get the project off the ground. Continue Reading
Endless Harvest has secured about $10 million in loans from the Small Business Administration, an unnamed local bank and the Bank of North Dakota, Brower said.
Brower asked the JSDC to consider a loan of about $2 million. This prompted questions from Jamestown Mayor Katie Andersen.
“If it (Endless Harvest) is capable of standing on its own why would you need this investment?” she said. “If it would be that profitable, why do you need help?”
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I agree with Andersen.
If this project is so lucrative, I would think that private investors would be knocking down the door.
Well-loved. Like or Dislike:
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Does anyone remember the Dakota Fresh lettuce project at Medina? That wasn’t that long ago and there was alot of public and private money lost due to many unknowns. Be cautious!
Well-loved. Like or Dislike:
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Documentation on the Small Business Loan? Is it believeable. Is the country in debt? Who is the unnamed bank? Is it time for the JSDC members to put their own money into projects? They can become the local investors. Having your own money into a project makes a difference as to the seriousness of the attention to the details. Did Mayor Andersen question the first seed money that went into this project?
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This may not be the right forum, but what happened to the promtional video that City Council awarded $19,000 to last spring? Is it done? Has it been shown? This has been pretty quiet.
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That’s a good question. Maybe the Sun could do some investigative journalism and find out.
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