Central Co-op Outperforming Industry Norms
Seattle’s Central Co-op returns more than 52 percent of its revenue back to the local economy compared to 36 percent of the average co-op and only 23 percent of the conventional grocery chain, according to an economic impact study conducted by Civic Economics, a financial analysis agency.
Central Co-op released the information in celebration of National Co-op Month.
The study found that the co-op circulates nearly four times as much money in the local economy per square foot when compared to other co-ops and more than seven times conventional grocery stores.
“Our workers, our shoppers and our neighbors are central to all we do here at Central Co-op, and we wanted a way to measure how well our actions prove our values,” said Central Co-op CEO Garland McQueen. “The results from this study put tangible numbers to what we’ve suspected all along – our small co-op store has an outsized impact on the Washington economy.”
The study also found that 20 percent of revenue was spent on products purchased in Washington state, with other co-op traditionally spending 12 percent on goods from the region and conventional grocery only spending 4 percent. This recirculation creates revenues that are used to build and support the roads, schools, bridges, and libraries that help make Seattle a vibrant community.
Central Co-op opened in 1978 and a new store will open in Tacoma next year.