In 2022, Loiter partnered with Food Depot to Health to purchase Wake Robin Foods, as a strategy to ensure predictable revenue streams to East Cleveland urban farmers. Wake Robin is a small family-owned company based in Cleveland, OH that creates various food products such as kimchi, pickles, and sauerkraut.
Both companies have aligned values for sustainability as well as supporting local farmers and the local economy. This business acquisition will fulfill that through redeveloping the local food system by establishing a closed loop, community owned supply chain. Click here to learn more about this initiative.
In addition, herbal tea is a $375 million dollar market in the US and is expected to grow 6.5 percent over the next 10 years. Honey products contribute 2.1 billion in value added GDP. Our next step is to establish a line of tea and honey to allow East Cleveland to capture some of that market share. We will do this by investing in resident-owned land cooperatives and micro-enterprises that will grow and process sustainable tea and honey during that same time frame.
We will recruit community-eligible residents to join, allowing them to reap the benefits of earning additional income from their land and property. Wrap-around services include technical assistance by an equity advisor and monetization coach. The advisor will develop other passive income strategies available and teach attainable income strategies that are designed to earn enough income to help cover monthly expenses.