North Carolina's first winegrowers' cooperative has run out of money and will close

North Carolina’s first winegrowers’ cooperative has run out of money and will close. The Old North State Winegrowers Cooperative began less than three years ago in Mount Airy.

The 1.2 million dollar co-op was envisioned as a way to create a market for small vineyards and a tourist attraction for the town. But members and state officials say the group’s money was drained by competition and a drop in grape prices.

The co-op’s collapse means about 50 growers involved will lose their individual investments in the project. Some say that amounts to as much as 70-thousand dollars.

Source: wfmynews2.com