Investment grant program will boost state's livestock industry
Minnesota livestock producers can apply for funding to offset the costs of improving or expanding their operations through the Minnesota Department of Agriculture's (MDA) Livestock Investment Program. The program gave the state's livestock industry a much-needed boost when it was first launched in 2008. This year, applications will be accepted through November 30.
Qualifying producers would be reimbursed ten percent of the first $500,000 of investment, with a minimum investment of $4,000. Qualifying expenditures include the purchase, construction, or improvement of buildings or facilities for the production of livestock, and the purchase of fencing as well as feeding and waste management equipment. Improvements made since January 1, 2009 are eligible for consideration.
A new provision added this year would allow qualified producers who suffered a loss due to a natural disaster or unintended consequence to use the grant to help off set some of those losses as a part of the rebuilding process. The grant will not pay for the cost of purchasing livestock or the cost of debt refinancing.
Grants will be awarded after a competitive evaluation process to determine whether the investment will improve environmental stewardship on the farm; whether the investment will bring new technology to the operation; whether the investment will increase livestock production or numbers; whether the investment will aid in the transition of the farming operation from one generation to the next; and if there was a loss due to a natural disaster or unintended consequence.
Minnesota livestock producers who applied for but did not receive a grant last year will have their application considered again this year and will not have to reapply. More information on the Minnesota Livestock Investment Program can be found on the MDA website at www.mda.state.mn.us/livestockinvestmentgrant.
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