Hormel Foundation sponsors second business plan contest

The Hormel Family Foundation has announce that its second annual business plan competition will take place on June 6, 2008, at the Hormel Business & Technology Center on the McCook Community College campus.

"The success of last year's competition, our very first ever, set the stage for what we believe will become a wave of interesting and innovative business development in the greater McCook region," said project initiator and Hormel Family Foundation board member Ben Hormel Harris.

The Hormel Business Plan Competition is intended to encourage existing business in McCook, as well as to attract new businesses to the area. Start-ups and existing local business owners are equally welcome to submit their business ideas.

On June 6, a judges' panel comprised of business and community leaders will once again identify the most promising business plan tailored to the McCook region. The winning entrepreneur or team will receive a $25,000 cash investment, as well as consulting and advertising 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 work closely with the winner to maximize the chances of success.

"Winning the $25,000 investment enabled us to quickly realize a dream that otherwise could have taken years to achieve," said last year's business plan competition winner Cody Dame, co-owner of McCook gaming store Game On ( www.gameongames.com ).

"The Hormel Family Foundation has been a great partner," commented Tanner Lytle, the second half of the Game On duo. "They've been supportive all the way, but at the end of the day, they trust that Cody and I will make the right decisions for our business."

The Hormel foundation will begin to accept submissions in the spring of 2008, and encourages all those interested in entering the competition to start working on their business plans as soon as possible.

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

The Hormel Family Foundation is a non-profit organization committed to education and business 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.hormelfamilyfoun dation.com, or contact Susan Harris-Broomfield at (308) 340-0856.