Prospect / Ohio / United States
On April 12, 1920, a group of local farmers formed Prospect Farmers Exchange Company. Originally the company issued 86 shares of stock. The company was founded for the purpose of buying and selling of farm products and the selling of farm supplies. The Company handled grain, hay, farm produce, fertilizer, feed, hardware, coal, lumber, and machinery. Grain storage capacity was less than 10, 000 bushels. Grain could be unloaded at 400 bushels per hour. Any grain loaded out was by wagon or bag. Feed manufactured per day was spoken of in pounds. All feed was in bags. Sales for the first year was less than $20, 000. Today, Prospect Farmers Exchange is one of a few single facility cooperatives left in the state. Though surrounded by two regional cooperatives and an ethanol plant the company continues to thrive. The company now limits its business to grain, feed and farmer hardware. Grain storage capacity is 1, 510, 000 bushels. There are 2 unloading pits that can dump 7, 500 bushels per hour. Eleven rail grain hoppers can be loaded in a day. The feed mill having gone through a recent update can manufacture 100 tons of feed in a day. Sales in 2008 exceeded $20, 000, 000. The Directors have always consisted of local farmers. Sixty individuals have served as Directors. The company has employed only eight General Managers since 1920. There are presently 9 employees. The Company has a long history and obviously there has been many changes and updates, but one thing that remains from April 12, 1920, the Companys commitment to serve the local farmers.
