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s/all he does/all he has done so far. this bit towards the end sounds a lot more positive; he's not only opening up in a rundown area, but he's engaging with th
by zem 12y ago
s/all he does/all he has done so far. this bit towards the end sounds a lot more positive; he's not only opening up in a rundown area, but he's engaging with the local community via "social impact investing" and his being transparent about the process is a valuable source of information for other people who are thinking along the same lines. quoting:
As of late April, Musk was finishing off the contracts for the community bond arrangement. Musk, believing that transparency is critical in social investing, shares some details: For a ten million dollar low-interest loan (with $4 million approved initially, and the rest coming as the project develops), he will open as many as five community restaurants — including the Shelby Farms operation — and possibly even take over the farm on the property. In exchange, he vows to deliver a specified list of social benefits to Memphis (when the entire operation gets rolling): an annual boost to the local farming economy of over a million dollar; an additional $1–2 million to the “real food economy (fishmongers, bakers, etc.); 600,000 guests per year served with “food that is better for you”; $140,000 of the yearly proceeds donated to the Learning Gardens (which had already received its initial stake, largely from Mason Hawkins’ Pyramid Peak foundation); and “up to 270 quality, mission-driven jobs.”