VA Food Co-Op Expansion Aided by RLF
Natural Harvest Food Cooperative in Virginia has been around since 1979 selling natural foods and recently outgrew the space they were in. In order to expand they utilized multiple types of financing including a revolving loan fund.
NJ Hops Growers Jump into Trendy 'Farm-to-Mug' Market
Oregon, Washington, and Idaho have the hops market wrapped up, but the Pacific Coast and Midwestern dominance may start to erode as consumer demand for sustainable, locally sourced food spills over to craft beers. There also is a surge in microbreweries in the Garden State and elsewhere across the country. Hops are poised to become the new hip crop in New Jersey. Tomatoes and corn may be forced to yield a bit of their dirt.
Urban Shepherd Looking at Setting up RLF for Future Projects
Urban Shepherds started as a way to mow a vacant lot in Cleveland with sheep instead of spending money on mowing. The project's long-term goal is to have a revolving loan fund set up so there is always money for people to borrow to get other areas started.
CGC Food Distribution Company Relocates to Howard County, MD
CGC Holdings, Inc., a food distribution company in Jessup, Maryland, recently completed construction and has moved into a new 160,000-square-foot building in Howard County. The company is eligible for various state and local tax credits, including Maryland's Job Creation Tax Credit.
USDA Invests $17.5M for Sustainable Agriculture Economy
The U.S. Department of Agriculture's (USDA) National Institute of Food and Agriculture (NIFA) today announced 47 grants totaling nearly $17.5 million to improve sustainable agriculture and help rural communities thrive.
MN Passes First of Its Kind Beginning Farmer Tax Credit
It's a historic win for beginning Minnesota farmers as a first in the nation land access bill was signed by Governor Mark Dayton. Authored by Rep. Nels Pierson and Sen. Mike Goggin, the bill supports the transition of land to young and beginning farmers through a tax credit incentive.
MI Good Food Fund Tops $10.5M in Statewide Food Investments
Six food enterprises in Grand Rapids, Kalamazoo, Southeast Michigan, and the Upper Peninsula received financing from the Michigan Good Food Fund, marking more than $10.5 million in investments since its launch two years ago.
VA Adopts Food Crops Donation Tax Credit
The Food Crops Donation Tax Credit was approved by the General Assembly in Virgina last year. It allows Virginia farmers who donate edible food crops to a nonprofit food bank to receive up to a 30 percent tax credit for their donation.
$700K RLF Loan Supports South Bend Indoor Farming
The vertical farming facility would be a place where green leafy vegetables would be grown year-round, under artificial light, and carefully controlled conditions. The proposed indoor growing facility would stand a story and a half tall and be window-less. Members of South Bend's Industrial Revolving Loan Fund Board have tentatively approved a $700,000 loan for the project.
USDA Programs in the Local Food Supply Chain
This chart from the USDA outlines the current federal financing programs which are available for each segment of the local food supply chain.