Damariscotta’s Rising Tide Co-op is both local hippie grocery store and big business, according to General Manager Heather Burt. Sales figures in 2022 total $9,709,000, said Board Chair Ed Ross via email. The 2021 annual report shows total assets near $4.2 million, up from $3.3 million in 2019. Of that $4.2 million in total assets, roughly 51% is held in member equity.

Consumer cooperatives are regarded as a stabilized business model, ensuring access to products and services while keeping resources securely in the community, according to the U.S. Department of Agriculture. It considers co-ops a key part of rural America’s economy.

Rising Tide’s economic resiliency during trying times is largely attributed to the heavy use of locally produced foods, which prevented the co-op from experiencing supply chain failures; while large grocers struggled to keep shelves stocked, Rising Tide had a steady, reliable flow of foods from the local community, explained Burt.

“Throughout the two years-plus of the pandemic and evolution of COVID-19, consumers have had to examine their relationship to food and food producers in a dynamic global, regional and local marketplace. As foods with origins outside our local community, and often outside of our national borders, became scarce and, eventually, more expensive, adjustments were made by sellers and buyers. It is without a doubt that the relationship to local foods, local producers and the economics of the hyper-local market grew in importance. Rising Tide is a leader in this powerful market force,” writes the co-op’s board in an open letter to their member-owners.

Rising Tide has been multiple times been named Best Co-op by Down East magazine’s readers, most recently in 2021.

With big business, comes big community impact. “The dollars stay here. Food is the vehicle we use for making community impact,” Burt said.

The 2022 report will note Rising Tide’s having spent over $2.6 million on Maine-made products and services, supporting 300-plus farmers, growers and producers; Rising Tide paid employees $2.2 million in wages and benefits and established a minimum base wage of $15 per hour; the cooperative donated more than $30,000 to local organizations; taxes paid are local as well; the 5,700-plus member-owners will also expect to receive patronage dividends, which in 2021 came to over $110,000.

Rising Tide is also investing. Burt said about $250,000 has been invested in two funds: Genesis Fund, which works to create housing and other economic and social opportunities for people and places being left out of the mainstream economy; and Twin Pines Cooperative Foundation’s Community Fund Program, the largest co-op organization funder in America.

The co-op had staffing problems during the pandemic; those have since balanced. As of the last pay date of December 2022, Rising Tide paid 69 employees, Ross said. Rising Tide is on a one to two-year horizon for expansion of the prepared foods portion of the store, and looking to create café seating again, though not where it was prior to COVID-19, Burt said.

The co-op is open from 8 a.m. to 8 p.m. daily to both member and non-member shoppers. The website has tips for saving money in each department. Rising Tide accepts SNAP/EBT and Farm Fresh Rewards which lets shoppers receive bonus fruits and vegetables from local farms. Members enjoy savings on bulk orders. The annual blueberry bulk order is popular and, in winter, members submit a bulk seed order to Fedco and receive 20% off. Seniors (62 and over) receive 10% off many items on Wednesdays.

“Rising Tide's staff is friendly, capable and dedicated; its customers are loyal, and its products are healthy. These attributes make Rising Tide a great place to shop. I get real satisfaction from being associated with such a wonderful organization. Rising Tide is an asset to our community,” Ross told Boothbay Register via email.