The new budget from the City Council of Cincinnati includes $100,000 in funding for Co-op Cincy, a nonprofit union cooperative incubator and NCBA CLUSA member. This is the first time the co-op received direct financial support from the city.
Half of that money will go to co-op’s loan fund, enabling it to help new and existing worker-owned businesses access financing. The other half will fund Co-op Cincy’s technical assistance program, enabling worker-owned businesses to develop a solid foundation and grow. This money will directly help build community wealth and preserve family-sustaining jobs in Cincinnati.
In addition to awarding Co-op Cincy $100,000 in funding, the City Council designated Queen Mother’s Market (QMM) as a priority for surplus spending. QMM is working to start a Black- and women-led co-op grocery store in Walnut Hills, a food desert. You can donate to support their grocery store here.
Big thanks to all the City Council members for their support, and special thanks to Council Member Greg Landsman and Vice-Mayor Jan-Michele Kearney for their advocacy efforts.
Interested in donating to Co-op Cincy’s loan fund and technical assistance program? Donate here.