There could be a new grocery store in Old Crow, Yukon by next summer.

Tracy Rispin, one of eight founding directors of the Old Crow Retail Co-operative, says a co-op will help the community deal with the high cost of food.

"For many years, we've been dealing with high prices in the community, and some of those prices are just ridiculous," she said. "We've never seen any benefits coming into the community from our current store."

Rispin says all the profits from a local co-op are returned to the community.

She says the founding members have met with Arctic Co-operatives Limited, which provides support for co-ops in 32 communities across the North.

If everything goes according to plan, organizers hope to open the co-op by next July.