$123 million has been earmarked for the grants
28 August 2023
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America Division of Agriculture (USDA) introduced ultimate week that it’s making extra investment to be had for meat and poultry processors to amplify operations, grow to be the meals provide chain and create new and higher markets for manufacturers.
This investment advances president Biden’s dedication to develop the financial system from the ground up and heart out through developing good-paying jobs and alternatives in each and every group.
“The Biden-Harris Management and USDA are dedicated to remodeling our meals machine to at least one that creates new markets for our small and mid-sized farming and ranching operations whilst protective alternative in our rural communities for generations to come back,” rural construction appearing below secretary Roger Glendenning mentioned. “The investment we’re making to be had lately to meat and poultry processors won’t best give manufacturers extra choices, but additionally create nice paying jobs and construct better resilience in our total meals machine.”
USDA is partnering with the New Hampshire Group Mortgage Fund to make to be had $123 million in grants throughout the Meat and Poultry Processing Enlargement Program. This system is a part of a sequence of movements the Biden-Harris Management has taken to advertise a fairer, extra aggressive and extra resilient meat and poultry provide chain.
The grants will lend a hand unbiased companies construct and modernize processing amenities and gear, undertake new applied sciences and educate employees, amongst different actions.
Eligible tasks would possibly obtain grants from $250,000 as much as $10 million. A success candidates should have the ability to quilt 70% in their general venture value.