June 29, 2023 at 7:05 p.m.
Funds available for small processors
Funds available for small processors
Grant funding will be available to assist small meat packers and processors.
U.S. Department of Agriculture (USDA) Secretary Tom Vilsack announced $115 million in investments to assist increase independent meat and poultry processing capacity, including a $15 million grant to the Indiana Office of Community and Rural Affairs (OCRA).
The funding for OCRA through the Meat and Poultry Intermediary Lending Program will be used for a revolving loan fund “to assist small and very small Indiana meat packers and processors with access to affordable capital for meat expansion products.”
The loan fund will be established with help from Indiana Finance authority.
“While American farmers and ranchers have been responding to the demand to produce more, their communities have struggled to see their share of the benefits,” Vilsack said. “… USDA is committed to championing meat and poultry processors, increasing competition and lowering costs for working families.”
Vilsack made the announcement during a roundtable with producers and businesses in Des Moines, Iowa.
Examples of projects funded include:
•Mountain West Economic Development (Montana) will use a $15 million MPILP investment to support meat and poultry processing and slaughterhouse operations in Flathead Valley.
•Three independent businesses will use a $2 million MPPEP (Michigan) award to help construct and equip a meat and poultry processing and retail facility: Mighty Fine Poultry Processing, LLC will slaughter and process poultry; Retro Meats Company, LLC will process red meat; and Swift Run Market, LLC will also process and sell meat products. Together, these activities are expected to increase demand for animals, increase opportunities for producers, and improve processing operations.
•Farmers Union Foundation, a charitable organization that provides resources for rural economic development, will use an $800,000 MPILP award to lend funds to independent small and medium sized meat processors in Minnesota, Montana, North Dakota, South Dakota and Wisconsin.
U.S. Department of Agriculture (USDA) Secretary Tom Vilsack announced $115 million in investments to assist increase independent meat and poultry processing capacity, including a $15 million grant to the Indiana Office of Community and Rural Affairs (OCRA).
The funding for OCRA through the Meat and Poultry Intermediary Lending Program will be used for a revolving loan fund “to assist small and very small Indiana meat packers and processors with access to affordable capital for meat expansion products.”
The loan fund will be established with help from Indiana Finance authority.
“While American farmers and ranchers have been responding to the demand to produce more, their communities have struggled to see their share of the benefits,” Vilsack said. “… USDA is committed to championing meat and poultry processors, increasing competition and lowering costs for working families.”
Vilsack made the announcement during a roundtable with producers and businesses in Des Moines, Iowa.
Examples of projects funded include:
•Mountain West Economic Development (Montana) will use a $15 million MPILP investment to support meat and poultry processing and slaughterhouse operations in Flathead Valley.
•Three independent businesses will use a $2 million MPPEP (Michigan) award to help construct and equip a meat and poultry processing and retail facility: Mighty Fine Poultry Processing, LLC will slaughter and process poultry; Retro Meats Company, LLC will process red meat; and Swift Run Market, LLC will also process and sell meat products. Together, these activities are expected to increase demand for animals, increase opportunities for producers, and improve processing operations.
•Farmers Union Foundation, a charitable organization that provides resources for rural economic development, will use an $800,000 MPILP award to lend funds to independent small and medium sized meat processors in Minnesota, Montana, North Dakota, South Dakota and Wisconsin.
Top Stories
9/11 NEVER FORGET Mobile Exhibit
Chartwells marketing
September 17, 2024 7:36 a.m.
Events
250 X 250 AD