To create local wealth and revitalize communities through the renovation of historic buildings and generation of profitable small businesses.
Rochester Local Capital matches local investors with talent, real estate, and business support to provide missing services in walkable neighborhoods.
Rochester Local Capital partners to control real estate and start local businesses. It recruits talent, conducts market analyses, solicits investment partners, structures financing, manages renovations, and provides business support to new ventures.
After years of consulting and advising communities around the country on how to revitalize their mainstreets and downtowns, Glenn Kellogg saw an opportunity to apply his talents in his own neighborhood. His vision of a for-profit economic development company slowly evolved into a venture capital (VC) enterprise that creates new businesses. It is an experiment in using the structure and leverage of a venture capital company for the neighborhood businesses of everyday life. Two of the most common problems of small business are poor management and under-capitalization. The VC structure allows for planning and managing these risks. As other successful models around the country have shown, one of the primary hurdles to launching local businesses is finding and controlling appropriate space.