U.S. Department of Agriculture (USDA) Rural Development State Director Erin Oban announced today that USDA is making investments to expand market opportunities for farmers and support a growing workforce in rural areas.
“USDA Rural Development’s role in ensuring that rural states like North Dakota have access to the capital necessary to expand local meat processing capacity helps our small businesses, producers, consumers, and rural communities,” said Oban. “With today’s announcement of another three entities serving North Dakota being awarded funds through the Meat and Poultry Intermediary Lending Program, our state and those in the meat and poultry processing industry will be able to benefit for years to come.”
USDA is providing five awards totaling $38 million through the Meat and Poultry Processing Expansion Program (MPPEP) to help independent processors in five states and 10 awards totaling $77 million under the Meat and Poultry Intermediary Lending Program (MPILP) in 12 states. Today's announcement will support projects in Colorado, Connecticut, Georgia, Indiana, Iowa, Maryland, Massachusetts, Michigan, Minnesota, Montana, New York, North Dakota, Ohio, South Dakota, Tennessee, Texas and Wisconsin.
In North Dakota:
Oyate Community Development Program will use a $15,000,000 grant to capitalize a revolving loan fund that will help support the meat and poultry industry within the eight districts that make up the Standing Rock Sioux Tribe. The revolving loan fund is expected to have a large impact and improve the economic conditions. The Oyate Community Development Corporation staff have extensive experience in agricultural and business lending.
Source: usda.gov
Photo Credit: USDA
Categories: North Dakota, Government & Policy