Join CDFA for Our New Intro Federal Finance Course
Register for CDFA's Intro Federal Finance Course taking place on December 13-14 to learn the federal funding resources available to help advance economic development. Our panel of expert speakers will discuss how federal support tools can work in coordination with other development finance tools for programs and projects on the local level.
$1.2M Investment Brings Nonprofits Focused on Food Security to Kansas City, KS
GreenLight Fund Kansas City announced a $1.2 million investment spread over four years to bring nonprofit solutions mRelief and Food Connect to the Kansas City region, addressing food security through responsive approaches to dignified food access. GreenLight's model, funded by a coalition of 50-plus local investors, identifies opportunities for strategic investment in support of inclusive prosperity.
Hawaii Sea Spirits LLC to Receive $10M Federal Loan Guarantee
The U.S. Department of Agriculture (USDA) is investing more than $1.2 billion in loans and grants to spur economic development, catalyze rural prosperity, and advance equity through rural cooperatives in 36 states and Puerto Rico. Hawaii Sea Spirits LLC (producer of OCEAN Organic Vodka) is to receive a $10 million Business and Industry Loan Guarantee to assist the small organic cane sugar farm, providing the opportunity to expand its business in the distillery, retail, and commercial kitchen café business on 80 acres on the Island of Maui.
New Loan Program Geared Towards Oyster Shucking Houses in Maryland
The general assembly has provided the Maryland Agriculture and Resource Based Industry Development Cooperation (MARBIDCO) $1 million to help support oyster shucking houses and commercial watermen facilities with a new loan program.
Virginia Invests SSBCI Funds in AgTech Company Working to Improve Soil Health
The Virginia Innovation Partnership Corporation (VIPC) announced that Virginia Venture Partners (VVP), its equity investment program, has invested in Green Tech Ventures, Inc. dba TrueAlgae. The company commercializes powerful, cost-effective microalgae-derived metabolites for regenerative agriculture applications that uses algal metabolites that stimulate the natural microbial activity in the soil, releasing key macro- and micronutrients to crops.
BFF Raises $11M for Black-Owned Food, Agriculture Businesses
The Black Farmer Fund (BFF), a community-led investment fund for Black-owned agricultural and food businesses, announced that it has raised $11 million, as part of a larger goal to raise $20 million for the BFF Fund 2.0. The fund helps Northeast-based Black-owned food and agricultural businesses with grants and operational support.
California to Help BIPOC Collective Cultivate Land Access for Underserved Farmers
The California legislature allotted a $1.25 million grant in 2022 to Ujamaa Farmer Collective for the purchase of a medium-sized plot of land in Yolo County. The deed secures the tenure for multiple farms to operate on individual plots ranging in size from half an acre to 5 acres, each with a voice in collective governance and access to shared resources.
CDFA Coalition Submits $2B Clean Investment Accelerator for DFAs Proposal Under Greenhouse Gas Reduction Fund Competition
CDFA and its coalition partners submitted a $2 billion Clean Investment Accelerator for Development Finance Agencies (DFAs) proposal for the Clean Communities Investment Accelerator competition under the Greenhouse Gas Reduction Fund. Under this program, CDFA and its coalition partners will launch a 6-year accelerator program designed to serve a community lender network of DFAs to build the expertise and financial capacity of DFAs to fund qualified projects that reduce or avoid emissions of greenhouse gas and other pollutants in low-income and disadvantaged communities.
USDA's Conservation Reserve Program Provides $1.8B for Climate-Smart Ag in 2023
The U.S. Department of Agriculture (USDA) has issued more than $1.77 billion so far in 2023 to agricultural producers and landowners through its Conservation Reserve Program (CRP), a critical piece of the Department's efforts to support climate-smart agriculture and forestry on working lands. CRP's more than 667,000 participants received payments from USDA's Farm Service Agency (FSA) for their voluntary conservation efforts on more than 23 million acres of private land.
South Dakota Economic Development Finance Authority Issues $25M Bond for Large Dairy
The South Dakota Economic Development Finance Authority approved issuing a $25M bond under the Livestock Nutrient Management Bond program for the 12,500-cow Washington Dairy owned by Riverview, a Minnesota company already operating four other dairies and a feedlot in South Dakota. The funding will be used for site preparation, concrete collection lanes, lagoons, settling ponds, and other equipment to collect and dispose of manure.