By Michelle Mosser,
BrandNature.net and Grace Communications
During the unseasonable arctic freeze that swept across America in November, the Slow Money Alliance convened their largest US gathering to date where a groundswell of relationship-hungry investors, local food activists and a new breed of farmers gathered to advance a common cause: The restoration of healthy, local food systems; nutrient- and carbon-rich soil; and small-scale, ethical, sustainable farming enterprises.
Since the publishing of Woody Tasch’s paradigm-shifting book of the same name–Slow Money–the organization he founded, has been a beacon for people who see a connection between “too-big-to-fail” investment practices and the growing list of casualties resulting from the mega-industrial take over of our food systems.
Since 2009, Woody and team have strategically seeded the annual gathering in different US communities where solutions to local food crises are well underway. This year they rolled into Louisville, a city that is no stranger to economic and social divides, nor the loss of surrounding farmland.
At the first Town-Hall style conversation, conference attendees from over 46 states shared a political lens with three progressive community leaders, while gaining insight into the economic and cultural revival underway in this part of Kentucky. Pioneer land activist, renowned author and lifelong Henry County farmer Wendell Berry profoundly shaped the character of this panel. Louisville Mayor Greg Fischer has welcomed Berry’s wisdom and input from other farm advocates, and spoke about the health, jobs and tourism benefits of scaling up the local food economy. Relaying the macro picture from Washington, DC, Congresswoman Chellie Pingree (D, Maine), once an organic farmer herself, spoke candidly about the corporate power of “Big Ag.” In contrast, she sited advances within the Local Farms, Food and Jobs Act. Known before as Food Stamps, 85% of the reformed Farm Bill’s resources now go to SNAP program benefits, which earn double their value when redeemed at farmers’ markets, making it easier for low-income families to buy healthier food.
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Louisville Mayor Greg Fischer recounted, “As a mayor, I see a food system as a metaphor for what we see on a larger basis happening in our country. As we see a massive amount of inequality and accumulation of wealth with a very small percentage of people, for me, it’s a metaphor for what’s happening to our land right now. Things are happening faster to it then we can understand, or want to perhaps, in long-term consequences, for the benefit of a few mass producers to make more money over the benefit of hundreds of thousands of small and mid-size farmers who are tilling the land in a sustainable way. It’s the same as what’s happening with the erosion of middle-income workers. We get caught in the vortex of speed that’s happening in the world now and it’s difficult to step back and look at what’s happening with our food, education and our country. There’s the unintended cost of bad food to health, such as obesity and childhood diabetes. In Louisville, we have to unlearn some things. So we’re starting a compassionate education program in our schools, from kindergarten up, modeling coping skills, mindfulness and healthy eating, because we know 67% of our children are on free and reduced cost lunch programs and are raised around violence and lack of nutrition.”
Wendell Berry portrayed, “The understanding is that the toxicity and destruction, erosive-ness of industrial agriculture is directly related to the destruction of rural communities. Big machines, continuous tillage, and continuous application and larger amounts of toxic chemicals have replaced the people who used to be there.”
Slow Money’s focus this year was to engage people in conversations, connecting the impressive list of presenters who donated their time, the 21 selected Showcase Entrepreneurs and the more than 800 attendees. And there was no shortage of pressing topics to talk about. Three Town Hall panels were designed to share initiatives gaining the most traction, while focusing on key obstacles to success.
Gary Nahban, MacArthur Fellow and Slow Money Board Member, framed the state of soil this way: “Within the next two decades more than half of all of America’s farm and ranch land will be transferred. Four hundred million acres of food producing lands are at risk of going out of food production, much of that near our cities where an incredible array of micro businesses, food artisans and healthy food suppliers need that food in order to deliver their products to people.”
Carbon-Building, Multi-Generational Food Systems
Patrick Holden, founding director of the London-based Sustainable Food Trust, shared their efforts toward redesigning the food system from the ground up. Implementing “true cost accounting” would level the playing field for small farmers by factoring government food subsidies, healthcare ramifications, industrial agriculture impacts to land and water, and the taxation of nitrogen soil damage.
A new breed of sustainable farm leaders are pointing to a somewhat different set of skills than 20th century farmers might have imagined. Hard work, hand-shake integrity and a passion for the land still run deep, but now we hear about farming models which are far less capital intensive and far more biodiverse. Joel Salatin, third generation farmer, author and popular speaker shared his benchmarks for success: Where essential farm equity is demonstrated as applied knowledge; small-scale mobile innovation; resource fluidity; child friendly; animal honoring; and customer relations centric. Long term success is measured as much in carbon-building soil and growth of the commons, as it is in yields and job creation. He states, “The average farm in America has four dollars of infrastructure to generate one dollar in sales. On our farm we have fifty-cents of infrastructure to generate one dollar…that’s an 800% difference!” His family farm services 3,000 families, 50 restaurants, 10 retail outlets, metro buying clubs and hosts online sales and on-site tours.
Food and Culture are Synonymous
A growing number of cities, have recognized the economic value of promoting local food and flavors that are unique to their region through gastronomy specialties at area restaurants, markets and farm tours. Restoring nutrient-rich farmland and pollinator corridors, while valuing the cultural heritage stories of family farms are increasingly seen as natural assets to place-authentic tourism. Louisville has launched Bourbonism, defined as the act of visiting Kentucky to enjoy local food and the region’s notable bourbons.
Food Investing – First State of the Sector Report
Over half of attendees registered as investors, with 100+ indicating their affiliation as professional advisors, angels or foundation managers. Approximately 350 self-identified as emerging investors, who wanted to align their values with their money.
During lobby interludes, it was evident how true these numbers played out. Enthusiastic dialogues flowed, with many career women indicating they’d recently pulled their savings out of conventional “Wall Street” investments. Many shared that it was their first Slow Money conference where they came to learn more about how to invest in sustainable farming and healthy food enterprises.
Lisa Dettlinger, founder of C-SAW Collaborative in Louisville remarked that being introduced to Slow Money was coming at the perfect time. After working with neighborhoods across the city on issues of civic engagement, environmental and economic rights, she’s launching her non-profit with the vision of bringing people together around food, especially those from the refugee and immigrant neighborhoods. Along with an urban farm, her organization is re-opening the landmark Hay Market that closed years back. “This conference gave me a big dose of confidence, practical tools and opened the door to new funding options. I’ve already setup meetings with two of the Showcase entrepreneurs who have established farms in their cities and met folks starting an investor group here.”
Katherine Kelly, Executive Director of CULTIVATE Kansas City said she’s followed Slow Money since it’s inception. She’s a veteran of the locally-grown food movement with almost 20 years of experience as a farmer and educator. Her organization is one of the oldest urban food NGOs in the country. They’ve developed a systems model with two working farms, a CSA, farmer training programs in organics, management and for the city’s refugee communities. And they now run a low-income, matching-incentives food buying program. “The Slow Money model of financing, that is more relationship based, will be much easier for farmers to engage in, than going to banks or dealing with big governmental departments. This is the exact right time for our city to have the same kinds of conversations that Slow Money is hosting. We’re at a place where we can put these ideas to work.”
Slow Money issued their First State of the Sector Report, which captured early trends from 2009 to 2013. Thirty-one million dollars flowed through their networks to more than 350 small food enterprises, primarily in the US. Survey respondents included 32 investment funds, family offices and foundations. Report findings combined with Slow Money’s investment database tracked $293 million invested in more than 968 transactions during the same time period. Of note, 36% of investments went to farm or ranchland projects; 34% to organic brands; 9% to both farm operations and aggregation/distribution channels; and 8% to food processing. Sixty percent of investors surveyed prioritized local food production, job creation, rural economic vitality and increased access to healthy foods for all Americans.
“BEETCOIN” Crowdfunding Raised $100,000 for Three Showcase Winners
Slow Money launched BEETCOIN, their first crowd funding campaign in September with the goal of awarding raised funds to top voted Entrepreneurial Showcase winners at their November Gathering. The campaign earned $75,032 from 373 donors. Slow Money topped off the effort to achieve an even $100,000.
Advancing a core tenant of their mission, this year’s Showcase competition fielded over 100 applications from local food, farm and land conserving operations vying for the opportunity to present to investors at the event. Twenty-one applicants were selected from across the country and four supply chain sectors. An impressive range of whole systems, solutions-based models that have been ground-tested and envisioned to tackle some of America’s toughest food system problems were presented.
Four of those have established urban farm programs targeting food desert crises in their home cities, including Boston, Cincinnati and Chicago. The Root Cellar in Columbia, Missouri addressed the lesser-known plight of rural food deserts, where mono and industrial scale agriculture has all but wiped out local sources of fresh, seasonal food in many small communities.
Second place BEETCOIN finalist, Louisville’s New Roots, was awarded $20,000 for its impact connecting 35 minority farmers with income-challenged, food desert neighborhoods. Over 650 families now have access to affordable, healthy food. Their shareholder commitment enables the farmers to plan seed purchases and growing-season expenses.
Sustainable Iowa Land Trust, (SILT) tied for Second place and was also awarded $20,000. Their non-profit has a comprehensive plan to purchase and receive prime endowment farmland to lease in perpetuity to emerging farmers. Advocates sight the lack of ability to purchase land as a key obstacle for young people who want to farm. Joel Salatin asserted the obvious, “When young people can’t get in to an economic sector, the old people can’t get out!”
The First place award of $60,000 went to Bauman Cedar Valley Farms, in Garnett, Kansas – a four-generation family farm that raises pastured poultry, meat and dairy cows and grows GMO-free grains. Funding will enable them to build a grainery to serve area small farmers, so they can once again, purchase non-GMO grains in their own back yard.
For more information on the Slow Money organization, Local Groups and BEETCOIN go to- www.slowmoney.org
Article by Michelle Mosser, BrandNature.net and Grace Communications
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