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USDA RURAL DEVELOPMENT ANNOUNCES $19.475 MILLION IN GRANT FUNDS AVAILABLE TO EXPAND VALUE-ADDED AGRICULTURAL BUSINESS VENTURES
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SYRACUSE, NY, December 22, 2005 - Patrick H. Brennan, New York State Director of the U.S. Department of Agriculture (USDA) Rural Development, announced today the availability of $19.475 million in grants that will support the development of value-added agriculture business ventures and support President Bush's energy plan to develop alternative sources of renewable energy. Of that amount, $1.5 million is set aside for applicants requesting $25,000 or less.
"USDA Rural Development's Value Added Grants will help farmers plan and implement activities that increase the profitability of their products," said Mr. Brennan. "A healthy agricultural economy increases jobs and economic activity on and off the farm. Agriculture, one of the top three industries in New York, is the engine of the state's rural economy."
The Value-Added Producer Grant program was authorized by the Agriculture Risk Protection Act of 2000 (P.L. 106-224) and the 2002 Farm Bill (P.L. 107-171). Grants are available to independent producers, agricultural producer groups, farmer or rancher cooperatives, and majority-controlled producer-based business ventures interested in a competitively-awarded grant to fund one of the following two activities: (1) planning activities needed to establish a viable value-added marketing opportunity for an agricultural product (e.g. conduct a feasibility study, develop a business plan, develop a marketing plan); or (2) acquire working capital to operate a value-added business venture that will allow producers to better compete in domestic and international markets.
Awards will be made on a nationally competitive basis. Applications must be received no later than March 31, 2006. Detailed information about application and program requirements are included in the program description, which can be viewed at http://www.rurdev.usda.gov/rbs/coops/vadg.htm. New York State residents interested in applying for a value added grant or who wish to obtain more information about the program should contact Scott Collins at (315) 477- 6409 or scott.collins@ny.usda.gov.
USDA Rural Development's mission is to deliver programs in a way that will support increasing economic opportunity and improve the quality of life of rural residents. As a venture capital entity, Rural Development provides equity and technical assistance to finance and foster growth in homeownership, business development, and critical community and technology infrastructure. Further information on rural programs is available at a local USDA Rural Development office or by visiting USDA's web site at http://www.rurdev.usda.gov.
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