ACLT Launching Commercial Kitchen Incubator with $300,000 from KeyBank
KeyBank Regional Corporate Responsibility Officer I.V. Reeves with Anchorage Community Land Trust CEO Kirk Rose and KeyBank Alaska Market President Lori McCaffrey, who also serves on the Anchorage Community Land Trust board.
Photo Credit: KeyBank
Anchorage Community Land Trust (ACLT) received a $300,000 grant from KeyBank to launch a new commercial kitchen in Anchorage’s Mountain View neighborhood. The shared space, slated to open in 2026, will provide storage and preparation space for early-stage food businesses.
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“We have long been impressed with ACLT’s efforts to support entrepreneurs as they build a thriving business, and we are excited to help provide a launch point for the next generation of small businesses,” says Alaska KeyBank President Lori McCaffrey. “Our mission is to help our neighbors thrive, and nowhere is that more important than in underserved communities that often lack access to traditional business resources and funding.”
The incubator will help address a long-term lack of access to affordable kitchen space for early-stage food businesses, particularly those in underserved communities. Programming will include free training, technical assistance, orientation, and access to the kitchen space and storage for participating food businesses. In addition, it will improve food security by providing access to more locally grown and packaged goods.
“This historic gift signifies KeyBank’s commitment not just to this facility but to the entrepreneurs it serves who stand ready to rise,” says Kirk Rose, CEO of ACLT. “A commercial kitchen incubator is a vital piece of small business infrastructure for Southcentral Alaska. It will ensure the path to food business ownership is attainable to anyone with a dream. This investment will allow early-stage entrepreneurs across the region to launch and grow their food businesses, creating and retaining wealth within their communities and becoming role models, leaders, and changemakers for our state.”
ACLT is a neighborhood-based nonprofit that works in targeted low-income geographies to improve quality of life. The kitchen incubator is a next step for ACLT’s flagship Set Up Shop program, which provides training, technical assistance, lending, and real estate support to business owners in targeted low-income neighborhoods of Anchorage.
In 2019, KeyBank granted $75,000 to ACLT to expand Set Up Shop. At the time, it was KeyBank’s largest small business investment in Alaska.
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Also in this issue: building a company and planning an exit strategy; several ESOPs, and UAS’ foray into a new model for tuition. Enjoy!