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Food and Agriculture Finance Update - October 9, 2018

CDFA Food and Agriculture Finance Update
October 9, 2018
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CDFA Food & Agriculture Finance Update


Food 21 - Controlled Environment Agriculture
Food21 is a comprehensive initiative led by Peoples Energy to develop a network of commercial scaled Controlled Environment Agriculture facilities. These facilities will be hubs for year-round production of a variety of vegetables, fruits as well as fresh fish. Join CDFA in Dallas, Texas for the 2018 National Development Finance Summit as we explore this forward thinking initiative.

Ag Study Funded by USDA Demonstrates $21.4M Ecosystem Benefit
The USDA funded a $260,398 study for the partners to generate a new, more comprehensive form of impact reporting for agriculture, encompassing biophysical and, for the first time, ecosystem service value metrics. The results illustrate the profound impact of management practices on the ecosystem service value provided by farms. 

Dozens of USDA Programs in Limbo as Farm Bill Expires
39 programs funded by the USDA are in limbo after the Farm Bill expired. Notable programs affected include the Rural Microentreprenuer Assistance program, Agricultural Product Market Development Grants, and the Small Watershed Rehabilitation program.

VEDA Approves $7.4M in Business Development Financing
The Vermont Economic Development Authority (VEDA) has approved $7.4 million in financing to support manufacturing, agricultural, small business and energy development projects throughout Vermont.

OR's Bovine Manure Tax Credit Isn't the Only "Crappy" Credit That Exists
Last fall, Oregon enacted the Bovine Manure Tax Credit, which offers bovine manure producers and collectors a tax credit for each wet ton of manure collected to be used as a biofuel or to produce a biofuel. Even though it may seem dirty, it appears as though manure is making a name for itself when it comes to clean energy credits.

AK Governor Signs Bill to Increase Fishing RLF Loan Limits
House Bill 56, primarily sponsored by Rep. Dan Ortiz, I-Ketchikan, rewrites sections of the state's Commercial Fisheries Revolving Loan Program to change the cap on allowable amounts of certain types of loans. Fishermen who want to buy individual fishing quotas, or IFQ, limited entry permits or gear can now borrow up to $400,000, an increase from $300,000.

New $5M Grant Program Will Support PA Dairy Industry
Governor Wolf has announced the availability of $5 million in grant funding to help Pennsylvania dairy farmers overcome challenges and capitalize on new opportunities. This historic funding, made available for the first time under the Pennsylvania Dairy Investment Program, is the most recent of several initiatives from the Wolf Administration to support Pennsylvania's dairy industry.

Ripe.io and Its 'Blockchain of Food' Secures $2.4M in Funding
Ripe.io wants to use blockchain technology to transform the food industry, and it just received a major influx of cash to do it. The agritech startup just secured $2.4Min financing from investors including a Chicago-based food innovation hub.

Upcoming Events
CDFA National Development Finance Summit

CDFA Federal Financing Webinar Series: U.S. Economic Development Administration (EDA)
October 18, 2018 - 2:00 PM Eastern
In this webinar, CDFA will convene experts on the EDA, as well as current and past recipients of EDA programming, to discuss the agency's offering of programs and initiatives. Notable programs that CDFA will highlight includes the Revolving Loan Fund Program, the Public Works Program, and the Planning Program.

Food & Agriculture Finance News

Whey Protein To The Food Finance Institute: Tera Johnson Talks Growing Food Businesses
WUWM 89.7 | Oct. 8 | Agriculture Finance | Economic Development | Food Systems Finance

Auburn, AL Uses RLF to Support Food Bank
Opelika Auburn News | Oct. 4 | Food Systems Finance | Revolving Loan Funds (RLFs)

Richmond Food Co-Op Is Down, but Not Out
Richmond BizSense | Oct. 3 | Agriculture Finance | Economic Development | Food Systems Finance

ReGrained Closes on $2.5M Financing Round Led by Griffith Foods
Food Business News | Sep. 25 | Economic Development | Food Systems Finance

Foodshot Launches Investment Vehicle to Improve Agtech and Food Systems
Yahoo Finance | Sep. 13 | Agriculture Finance | Food Systems Finance

Wells Fargo Innovation Incubator Expands Focus to Sustainable AgTech
Odessa American | Sep. 12 | Access to Capital | Agriculture Finance | Economic Development | Food Systems Finance

The Council of Development Finance Agencies (CDFA) is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private and non-profit entities alike. For more information, visit www.CDFA.net or email info@cdfa.net.

Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300


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CDFA National Sponsors

  • Baker Tilly Virchow Krause
  • BNY Mellon
  • Bricker & Eckler LLP
  • Bryan Cave Leighton Paisner LLP
  • Business Oregon
  • CohnReznick
  • FBT Project Finance Advisors LLC
  • Fifth Third Bank
  • Frost Brown Todd, LLC
  • Hawkins Delafield & Wood LLP
  • Ice Miller LLP
  • KeyBanc Capital Markets
  • Kutak Rock LLP
  • McGuireWoods
  • MuniCap, Inc.
  • NW Financial Group, LLC
  • SB Friedman Development Advisors
  • Stern Brothers
  • Stifel Nicolaus
  • U.S. Bank
  • Wells Fargo Securities
  • Z. The Bond Buyer
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