The New York Times this week has a story about Greensgrow Farms in North Philadelphia, producing hydroponically-grown greens and also connecting urban consumers with regional producers of meats, cheeses, and other vegetables. I’m intrigued by the financial information that the article contains:
The farm earned about $10,000 on revenue of $450,000 in 2007, and hopes to make a profit of 5 percent on $650,000 in revenue in this, its 10th year, so it can open another operation elsewhere in Philadelphia.
Although no one at Greensgrow is getting rich from the operation – after 10 years’ work, Ms. Corboy is making an annual salary of $65,000 – there is a sense that their time has come.
This is all on one acre of land. And I really like the idea of combining the working farm with other operations, such as honeybees and seedlings.