U.S. Division of Agriculture Secretary Tom Vilsack introduced an funding of $73 million in 21 grant tasks by the primary spherical of the Meat and Poultry Processing Growth Program.
The brand new investments will increase meat and poultry processing capability – rising competitors, supporting producer revenue, and strengthening the meals provide chain.
As well as, the Biden Administration is investing $75 million for eight tasks by the Meat and Poultry Middleman Lending Program, in addition to greater than $75 million for 4 meat and poultry-related tasks by the Meals Provide Chain Assured Mortgage program.
As President Biden highlighted earlier this 12 months, creating fairer markets and extra alternatives for household farmers helps carry down costs on the grocery retailer.
“By jumpstarting unbiased processing tasks and rising processing capability, these investments create extra alternatives for farmers and ranchers to get a good value, whereas strengthening provide chains, delivering extra meals produced nearer to residence for households, increasing financial alternative, and creating jobs in rural America,” says Vilsack.
Tasks increase processing capability
Vilsack made the announcement in the present day at Larger Omaha Packing in Omaha, Nebraska. The packing plant is certainly one of many amenities receiving funding. With the funding, Larger Omaha Packing will increase their beef processing capability by 700 head per day. The venture can even help an extra 275 jobs.
Different examples of tasks getting USDA help by these investments embrace:
- Montana Premium Processing Cooperative will present unbiased producers in Montana with an choice for a neighborhood USDA inspected meat processing facility in an space that’s presently with out Federally inspected processing.
- Vermont Livestock Slaughter & Processing will revitalize and modernize their multi-species facility, tripling their throughput.
- Slicing Edge Meat Firm, a facility in Leakesville, Mississippi, will considerably improve their capability and shorten the six-month backlog for processing presently going through producers.
View a full record of awards beneath these applications.
Extra funding within the pipeline
These investments are a part of the primary spherical of funding made out there by Part I of MPEPP. Further bulletins are anticipated within the coming weeks.
USDA can even quickly start taking functions for a brand new part to deploy an extra $225 million, for a complete of as much as $375 million, to offer hole financing for unbiased processing plant tasks to diversify processing capability.
Within the first spherical of MPILP, $75 million was awarded to eight lenders in seven states. Functions for the second cycle ($125 million) are presently being accepted and are due Dec. 31, 2022.
Because the FSCGLP was launched in December 2021, greater than $250 million in loans have been assured for tasks in the midst of the meals provide chain. 4 of those, introduced in the present day and totaling greater than $75 million, are for meat and poultry processing companies.
