Join CDFA for the Return of the Fundamentals of Economic Development Finance Course
Join CDFA as we kick off the new year with the return of the Fundamentals of Economic Development Finance Course on January 24-25, 2024! This course is the foundation for all of CDFA's educational offerings and will help attendees understand the variety of development finance tools available including bonds, tax credits, tax increment financing (TIF), federal financing programs, RLFs, Opportunity Zones, and access to capital lending resources.
Missouri is Implementing Tax Credits to Boost Urban Farming
Missouri announced a new tax credit program aimed at encouraging urban farming in cities throughout the state. Urban farmers in specific areas, including St. Louis, Rolla, and Hannibal, who spend up to $10,000 on establishing or improving an operation, can claim the credit and receive half of that back on taxes. The total tax credit pool for the initiative is $200,000.
CDFA Releases Socially Disadvantaged Farmers and Ranchers Access to Capital Toolkit
The CDFA-NASDA Foundation Socially Disadvantaged Farmers & Ranchers Access to Capital Toolkit is designed to assist practitioners working in agriculture and economic development in learning more about the range of finance tools available to assist underserved farmers and ranchers with obtaining capital to start and grow their businesses. This toolkit outlines the many barriers socially disadvantaged farmers and ranchers face with finding affordable funding sources and provides resources and practical assistance to communities looking to invest in them.
Nebraska Turns USDA Revolving Funds Into Beef Bacon
Dawson Public Power partnered with the Nebraska Enterprise Fund, a 501(C)(3) nonprofit revolving loan fund, to secure $15 million from the USDA Meat and Poultry Intermediary Lending Program. The first $5 million loan from this funding, along with owner equity and investments, will be loaned to Copperstone Foods to finance the necessary building expansion and cutting-edge equipment to brine, smoke, slice, package, and store the product from short plate to beef bacon.
CDFA is Hiring a New Vice President of Development Finance
The Council of Development Finance Agencies is now accepting applications for Vice President, Development Finance. This position leads CDFA's development finance practice and is responsible for ensuring CDFA delivers on its research projects, resource collection, educational offerings, partnerships, and content creation. Want to join the CDFA family in Columbus, Ohio? Email your cover letter, resume, salary request, and three professional references to jobs@cdfa.net.
Food Supply Chain Funding Available for Ohio
The Ohio Department of Agriculture will provide $12.6 million to support food system projects within the state involving supply chain coordination, processing, and distribution. The funds are part of the U.S. Department of Agriculture's (USDA) Resilient Food System Infrastructure Program which uses American Rescue Plan funding to support middle of the supply chain gaps impacting farmers and food businesses.
Peoria, IL Distillery Business Planning Major Expansion Through New TIF District
One Peoria, IL business is already in line to benefit from a possible new tax increment financing (TIF) district the city is looking to create in 2024. Black Band Distillery, which currently operates out of a century-old building in the Warehouse District, is looking to expand its operations to a large vacant warehouse at 2400 SW Washington St.
Certified Ag Group Introduces New RLF Financing Option
The Certified Agriculture Group (TCAG) is rolling out Certified Agriculture Dealer Financing (CADFi), the next evolution of the only agriculture program in the automotive industry. The CADFi program seeks to bridge the gap in financing/leasing options for the farming and ranching industry. Farmers and ranchers can finance/lease trucks, accessories, and upgrades as well as bundle other farm operation expenses using irregular payment terms that best suit the farm or ranch.
USDA Awards Montana Tribes to Help Strengthen Food Sovereignty
U.S. Department of Agriculture (USDA) Rural Development in Montana State Director Kathleen Williams announced that the Assiniboine and Sioux Tribes of the Fort Peck Indian Reservation in Montana became one of the first nationwide to receive a $191,000 grant through the Agricultural Marketing Service (AMS) Indigenous Animals Harvesting and Meat Processing Grant Program.
South Dakota Approves $12.5M Bond for Dairy Producer
The South Dakota Governor's Office of Economic Development Board of Economic Development and the Economic Development Finance Authority approved a $12.5 million Livestock Nutrient Management Bond for County Line Dairy, LLC, a 5000-head dairy. The bonds will be used for the construction of structures to properly dispose of waste animal manure generated by dairy operations and are expected to add 30 new full-time positions.
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