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

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


USDA Announces $1.35M to Support Data-Driven Farm Management Practices
The U.S. Department of Agriculture's (USDA) National Institute of Food and Agriculture (NIFA) today announced $1.35 million in available funding to provide agricultural producers with training and data to strengthen their business management skills.

USDA Announces $12.1 Million to Support Crop Protection and Pest Management
The U.S. Department of Agriculture's (USDA) National Institute of Food and Agriculture (NIFA) today announced $12.1 in available funding through the Crop Protection and Pest Management (CPPM) Competitive Grants Program.

$800K RLF Loan Supports Indoor Farming Project
The City of South Bend conditionally approved $800,000 in Industrial Revolving Loan Fund finance for vertical farm business. The company called Green Sense raised an additional $640,000 during a crowdfunding campaign.

Food Companies Leverage EDA Resources and NJ's Unique Assets to Support Growth
While Grow NJ tax credits have been effective in driving job creation and private investment in the food industry, many companies are growing with support from traditional EDA resources, such as bonds for manufacturers and loans, guarantees and participations provided directly by the EDA or through EDA's banking partners.

KY Incentives Support $50M High-Tech Greenhouse
AppHarvest's 2 million square-foot greenhouse will rank among the world's largest. The company plans to grow fresh vegetables year round for consumption in the U.S. The Kentucky Economic Development Finance Authority has preliminarily approved the company for tax incentives up to $2.5 million.

MN Gov. Mark Dayton Signs Bipartisan $35M Rural Finance Authority Bill
Delivering needed assistance to Minnesota's 74,000 farmers, Governor Mark Dayton today signed the bipartisan $35 million Rural Finance Authority Legislation (H.F. 14) into law. The new funding will allow the Authority to continue offering eligible Minnesota farmers affordable financing and terms and conditions not offered by other traditional lenders.

Crowdfund Starts for Urban Farm Resource Center in Detroit
State economic development officials and a nonprofit urban farming group have launched a crowdfunded campaign to turn a vacant Detroit building into a community resource center. The 3,200-square-foot center north of downtown will offer educational programming and event and meeting space.

Minnesota Good Food Access Program Funding Introduced in Legislature
The Good Food Access Program is run by the Minnesota Department of Agriculture and was created to provide assistance to increase access to affordable foods in areas of the state currently struggling with a lack of access to grocery stores and other outlets that sell nutritious food.

USDA Awards $500K Through New Behavioral Science Grant Program
The U.S. Department of Agriculture's (USDA) National Institute of Food and Agriculture (NIFA) today announced two grants totaling $500,000 to help pinpoint motivators that drive farmers to adopt conservation practices and identify the roadblocks that may get in the way. 

New Farmer Student Loan Assistance Program in Buffalo
The New York State Young Farmers Loan Forgiveness Incentive Program provides student loan repayments (up to $50,000 over the course of the program) to individuals who obtain an undergraduate degree and commit to operating a farm in New York State, on a full-time basis, for five years.

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Food & Agriculture Finance News

MDA Trade Show Supports Food and Beverage Entrepreneurs
Minnesota Department of Agriculture | Feb. 27 | Food Systems Finance | Innovation Finance

USDA Seeks Project Proposals to Protect and Restore Critical Wetlands
USDA | Mar. 10 | Water Finance | U.S. Dept. of Agriculture (USDA) | Agriculture Finance

MDA Accepting Food Hub Grant Applications
Minnesota Department of Agriculture | Mar. 6 | Agriculture Finance | Food Systems Finance

Disaster Relief Program for Farmers and Small Businesses Impacted by Tornado
MO Department of the Treasury | Mar. 1 | State Finance Program | Disaster Recovery & Relief | Agriculture Finance

TemperPack to Expand Headquarters, Manufacturing Operations in Richmond
Virginia Economic Development Partnership | Feb. 27 | Food Systems Finance | Green Finance | Economic Development

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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