Business plan competition June 15

The Hormel Family Foundation has announced that its 2007 Hormel Business Plan Competition will be on June 15 at the Hormel Business and Technology Center on the McCook Community College campus.

The competition is intended to become an annual event.

On June 15, a judges' panel comprising business and community leaders will identify the most promising business plan.

The winning entrepreneur or team will receive a $25,000 investment, as well as consulting services valued at $10,000.

In exchange for the $25,000 investment, the Hormel Family Foundation will take a minority stake in the business, and will continue to stay integrally involved.

"This is not only a tremendous opportunity for one individual or team. For us, this is primarily an investment in the community of McCook," said Ben Hormel Harris, who serves on the board of the Hormel Family Foundation.

The competition is open to anyone interested in operating a business in or near McCook. The foundation welcomes submissions from start-ups as well as local business owners looking to expand or improve their businesses.

The Hormel Family Foundation is now accepting submissions. Information about the application process can be found on the foundation Web site, www.hormel familyfoundation.com. The deadline for submitting a business plan is May 22.

Spearheaded by the Hormel Family Foundation, this initiative enjoys generous support from Community Hospital and McCook Community Development Co., comprised of AmFirst Bank, McCook National Bank and Wells Fargo Bank.

The Hormel Family Foundation is a non-profit organization committed to education and economic development in McCook, Nebraska. Founded in 1999 by the late Ben F. Hormel, it provided the funding for the Ben F. Hormel Technology Center for Business and Industry on the McCook Community College campus.

For more details, please visit www.hormelfamilyfoundation.com, or contact Susan Harris-Broomfield at (308) 340-0856.