New Pi Co-op members vote in favor of third location

New Pioneer Co-op’s board of directors announced today that 91 percent of its members voted “Yes” in favor of pursuing a third store location within its trade area, which “extends from Iowa City to Cedar Rapids.”

“Here’s to more local, sustainable, community-based food! More Pi for everyone!” the Co-op wrote on Facebook. As far as where the new store will be located, New Pioneer added, “We don’t know for sure, but now we can start really looking!”

For the last month, New Pioneer has held meetings in Iowa City, North Liberty, Marion and Cedar Rapids to allow its members to learn more about the potential for a third location. In an openly distributed brochure, New Pioneer noted that it is in “strong financial shape” with a “$9 million balance sheet and no debt.”

The brochure noted that, “Board and management have determined that the near-term financial risk of exploring growth opportunities is less than the long-term financial risk of not growing to meet the market.”

In addition to a mail-in deadline of June 13, members had until store close on June 14 to drop their ballots off at either location.