Indoor Farming Operation Doubles Profits During COVID-19
Indoor farming operations, such as leafy greens producer Gotham Greens, report doubling their profits during the COVID-19 pandemic, Yahoo! Finance reporters Zack Guzman and Akiko Fujita find.
Guzman and Fujita interviewed Viraj Puri, CEO of Gotham Greens. Here is a brief look at what he had to say.
Indoor Farming Brings Growing Across the Nation
Gotham Greens holds operations in New York, Illinois, Rhode Island, Maryland, and Colorado, and serves 40 out of the 50 states.
With indoor farming, weather and climate no longer play a role in what you can grow, according to Puri. This means growers can expand out of states like California and Arizona and work anywhere and grow anything.
Restaurants May be Down but Supermarkets are Up
Due to social distancing laws in many states, restaurants aren’t seeing nearly as much business, leading to less need for food supplies. This comes with a new uptick in people cooking at home.
“Consumers are spending their dollars behind brands that speak to many of their values around food safety, around supporting local economies,” Puri said. “Those have been some of the factors that have really led to our doubling of our growth this last year, and we’re very optimistic about the years ahead, for both our company and the broader indoor farming industry.”
To catch the full story, check out Yahoo! Finance’s full interview.
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