bloom local food fund
We created the Bloom Local Food Fund to tackle the gaps in the Ontario food ecosystem. The need for investment is great, and the opportunity in Southeastern Ontario is even greater. The Bloom Fund aims to redirect capital to support local sustainable long-term development, while understanding the balance between returns and impact.
The Need for Investment
- 13% of households in Ontario are food insecure. (Approx. 1.7 million people)
- 1 in 6 children live in food insecure households.
- Cost of nutritious food increased by 9% in 2019 in Eastern Ontario.
- Vulnerable groups are disproportionately impacted.
- Lack of local manufacturing and processing capability in Ontario creates gaps for producers, retailers, and consumers.
- Reprioritize local food production to insulate the food system from global shocks.
- 2.3% increase in food prices within 6-months of COVID-19 due to supply chain constraints.
- 43% of small businesses in Eastern Ontario were significantly affected by COVID-19.
- Rural communities and regions in Southeastern Ontario are seeking to develop and retain sustainable and diversified economic base, including viable SMEs.
- Food system requires sustainable, locally appropriate energy supply and storage to mitigate emissions and climate impacts.
- Agriculture accounts for 10% of greenhouse gas emissions in Canada.
- Ontario is the province with the 2nd highest greenhouse gas emissions in Canada.
The Opportunity in Eastern Ontario
- ~158,000 registered businesses
- ~10% of all agri-food businesses in Ontario
- ~10,500 people employed in agriculture, forestry, fishing and hunting industry
- ~12% of the agriculture workforce in Ontario
- ~2.1 million acres of total farm area
- ~17% of all farm area in Ontario
- 3x increase in market value of organic food since 2013
- 28% of Canadians buy brands that promote sustainable practices
- $27 million invested through the Eastern Ontario Development Program (EDOP)
- $730,000 invested through the Agriculture Clean Technology (ACT) Program to support sustainable agriculture
- $335,000 invested in 7 organizations by the Ministry of Agriculture & Agri-Food
We can invest to solve this challenge.