The name has changed over the years, but FoodMart grocery in the town of Elizabeth has remained a cornerstone of the community for 35 years. When the owner decided to retire this year, the community was at risk of losing its only grocery store.
The FoodMart will now stay in business under new ownership by AJC Ventures LLC. The purchase saves 15 local jobs and has the potential to add up to two more.
Aside from a few convenience stores, FoodMart is the only food store in Elizabeth, the county seat of Wirt County. The full service grocery store includes a deli with fresh meats and a pharmacy.
AJC Venture’s purchase was aided by $120,000 from the West Virginia Capital Access Program. The WVCAP program gives the state’s small businesses more access to capital so they can invest, expand and create jobs. The Mid Ohio Valley Regional Council acted as sponsoring program participant.
“Both partners in ACJ Ventures have backgrounds in the grocery and food industry,” said Carol Jackson, executive director of MOVRC. “One was affiliated with their grandfather’s local grocery in another small town in West Virginia. They know the value of local markets and rural communities. They are extremely anxious to get their ideas in place and serve the Wirt County community.”
The West Virginia Jobs Investment Trust is the state’s venture capital fund created to develop the state’s economy by making investment funds available to eligible businesses. The West Virginia Jobs Investment Trust administers the federally funded WVCAP program to help the state’s small business get the credit they need to grow.
