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NCOSAFP & CDFA Food and Agriculture Finance Update - February 14, 2017

CDFA Food and Agriculture Finance Update
February 14, 2017
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NCOSAFP & CDFA Food and Agriculture Finance Update


USDA Announces $27M in Grants Available to Support the Local Food Sector
The USDA's Agricultural Marketing Service has announced the availability of $27 million in grants to fund innovative projects designed to strengthen market opportunities for local and regional food producers and businesses. 

VEDA Approves $15.2M in Economic Development Financing
The Vermont Economic Development Authority (VEDA) has approved $15.2 million in economic development financings, supporting manufacturing, agricultural, energy and small business projects throughout Vermont.

Grow a Farmer Loan Fund Launched in MN
The Grow a Farmer Fund is a revolving-loan fund managed by Southern Minnesota Initiative Foundation that offers lower-interest loans up to $15,000 to individuals in SMIF's 20-county region for inventory, supplies, working capital or machinery/equipment.

Tenderloin on the Inaugural Table Will Come from NMTC
Ryan Ford, a businessmen from Virginia, used NMTC's, private investment, and public grants in order to purchase a meat processing plant so that local cattle could be processed locally. That investment has paid off and now his company, Seven Hills Food Company, provided tenderloins for the inaugural meal of the new presidency.

USDA Invests $13.6M in Citrus Greening Research
The USDA National Institute of Food and Agriculture announced four grants totaling more than $13.6 million to combat citrus greening disease, aka Huanglongbing. The funding is made possible through NIFA's Specialty Crop Research Initiative Citrus Disease Research and Extension Program.

$4M Food Bank Opens New Boynton Facility
Feeding South Florida's new Palm Beach County operations center opened in Boynton Beach, marking a new direction for the non-profit aimed at conquering hunger.

New P3 Ag. Board to Tackle Economic Development in PA
The 25-member panel arose from a partnership established last year between the Pennsylvania Department of Agriculture and Team Pennsylvania. The board will initially focus on identifying needs and opportunities to develop a trained workforce to fill vacancies in the food and fiber industries.

Dayton Announces $350M in Federal Funds for Water Quality
Minnesota has secured $350 million in federal funding for a voluntary program to pay farmers to protect and improve water quality in southern and western Minnesota, but the state needs to come up with about $95 million more to get the full amount.

NMTCs Are Successful at Financing Rural Manufacturing in SC and GA
Business growth requires ready access to capital, but access can be especially challenging for rural manufacturers. The federal New Markets Tax Credit Program has lent a helping hand to thousands of companies to build new plants, finance expansions and introduce new technologies, especially in rural communities across America.

The Wise Ag Update
The first quarter 2017 edition of The Wise Ag Update by Murray Wise Associates LLC.

States See Value in Backing 'Food Hubs' for Farmers, Consumers
The growth in locally sourced food, a market that totaled $12 billion in sales in 2014 and could reach $20 billion by 2019, coincides with rising consumer demand for healthier fresh food that is often grown organically and with environmentally friendly practices and food hubs are capitalizing on this market.

VA Vineyards Receive $811K AgriBusiness Grant for Expansion
The Tobacco Region Revitalization Commission awarded an $811,526 AgriBusiness grant to Pittsylvania County which will help aid in the development of Virginia vineyards.

Upcoming Events
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Food & Agriculture Finance News

CDFA Releases 2017 Policy Agenda
CDFA | Feb. 2 | Access to Capital | Agriculture Finance | Bond Finance | EB-5 Visa | Economic Development | Energy Finance | Green Finance | Infrastructure Finance | Legislative | Rural Development | Tax Increment Finance (TIF)

Solar Leases Could Conflict With Key Tax Break for Some MI Farmers
Midwest Energy News | Feb. 3 | Energy Finance | Agriculture Finance | Tax Credits | Incentives

Planned Mountaire Farms Feed Mill to Bring 65 Well-Paying Jobs to Scotland County
EDPNC | Jan. 25 | Economic Development | Food Systems Finance | Rural Development

Commentary: Amid a Budget Crisis, a Few Positive Signs for KS
The Kansas City Star | Jan. 23 | Agriculture Finance | Economic Development | Tax Credits

Incentives Move Kentucky Fresh Harvest Project Forward
The Interior Journal | Jan. 19 | Agriculture Finance | Bond Finance | Incentives | Tax Credits

Monsanto Receives $3.75M Modernization Tax Credit for Expansion
Area Development | Feb. 8 | Tax Credits | Agriculture Finance

LA Officials Seeking More Federal Aid for Flood Victims
St. Mary and Franklin Banner-Tribune | Feb. 8 | Agriculture Finance | Disaster Recovery & Relief | Infrastructure Finance | U.S. Dept. of Housing & Urban Affairs (HUD)

The National Council of State Agricultural Finance Programs provides national representation for states that operate finance programs for farmers, ranchers, and the agricultural industry. Organized in 1984, the NCOSAFP is a non-profit organization that provides a forum for sharing ideas and serves as an information clearinghouse for its member state agencies. The Council provides information about state programs on farm finance issues and legislation developing in Washington, D.C. In addition, the Council is involved in the promotion and support of rural economic development programs. For more information about NCOSAFP, visit www.stateagfinance.org.

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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