Biden administration to invest $89 mln in meat processor expansion
Grants available under the Meat and Poultry Intermediary Lending Program
7 March 2023
2 minute read
By: US Department of Agriculture (USDA) Secretary Tom Vilsack announced yesterday the Biden-Harris Administration is investing $89 million to finance the startup and expansion of independent meat processors.
The $89 million of investments announced support are part of the administration's plan to create a fairer and more competitive meat and poultry supply chain. Part of the plan includes boosting independent processing capacity.
USDA is providing $89 million in grants under the Meat and Poultry Intermediary Lending Program (MPILP) to increase available financing for independent processors, alleviate bottlenecks, and create opportunities for small businesses and entrepreneurs in rural communities.
Nonprofit lenders in seven states will use the funding to establish revolving loan funds to finance the startup, expansion and operation of meat and poultry processors. USDA is making the investments in Alabama, Georgia, Maine, Nebraska, North Dakota, Oklahoma and South Dakota.
In Alabama, the Alabama Agricultural Development Authority is receiving $15 million to finance 12 processing facilities and help a Tribal entity build a facility. The funds will benefit Madison, Blount, Dallas, Lowndes, Marshall, Mobile, Covington, Cullman, DeKalb and Lauderdale counties and will create at least 145 jobs.
In Maine, Coastal Enterprises, Inc. (CEI) is receiving $8 million to help livestock and poultry processors in New England get access to capital and technical assistance to increase meat processing capacity. Coastal Enterprises will continue to leverage its decades of food-focused lending to help build a vibrant and resilient future for meat and poultry processors in New England.
In North Dakota, Lewis and Clark Development Group is receiving $5 million to support the expansion of meat and poultry processing. The funds will focus on increasing capacity and diversifying America’s food supply chain while furthering economic opportunity with Cloverdale Foods. Lewis and Clark has a 20-year relationship with Cloverdale Foods, which has a long history of investing in local communities and supporting local pork and cattle producers. The funds will support Cloverdale’s plan for growth over the next three years. This assistance is expected to create 225 jobs.
