Toronto Launches Not-for-Profit Grocery Stores

0:00Toronto City Council just greenlit a bold move to fight sky high food prices with something fresh for Canada, not for profit grocery stores, run by the city itself. They're kicking off a pilot with four spots and underserved spots like downtown Toronto, North York, Scarborough, and in Tobacook areas, hit hard by food. Deserts where fresh groceries are scarce. This idea is picking up steam elsewhere too, inspired by pushes in New York and even Canada's federal new Democrats talking public grocery options. Toronto's plan skips property taxes and development fees on these stores, aiming to pass those savings straight to shoppers' wallets. Experts are sounding alarms though, pointing out grocery bizzards runs on razor-thin margins. Think 70% of prices tied to production costs. Plus, labor and overhead eating up the rest. Big chains have locked in supply deals for bulk discounts that a newbie city operation won't match right away. Other cities are eyeing it closely. Ottawa's digging into options for food insecurity, including this model, while Vancouver shot down a similar pitch recently, opting instead to boost.

1:09Existing co-ops in independence since cities lack the logistics know-how. Staff now have about a year to craft a full plan in budget, none's allocated yet, so we'll see if Toronto can deliver affordable eats without stumbling into a supply chain mess. Keep an ear out as this unfolds. Local news, powered by AI. This is Toronto News Today.