FOR IMMEDIATE RELEASE: Tuesday, November 29, 2016
MDA requests Letters of Interest for feasibility study grants
Agricultural value-added business ventures encouraged to apply
ST. PAUL, Minn. – The Minnesota Department of Agriculture (MDA) is now accepting Letters of Interest for Value Added Feasibility Study Grants. Funds are available through the Agricultural Growth, Research and Innovation (AGRI) Program.
Value Added Feasibility Study Grants assist the development of profitable businesses that add value to Minnesota agricultural products. Grants may be used to fund up to 50% of the costs of a feasibility study for a new business, or for expansion or diversification of an existing business. Grant recipients must work with a third party consultant to determine whether a project or business venture is technically feasible, is feasible within the estimated cost, and will be profitable. Any Minnesota resident or business may apply, with a maximum award of $35,000.
“Feasibility studies offer valuable insights to businesses of all sizes,” said David Weinand, Grants Coordinator at the MDA. “There’s a real interest in creating new markets and products for Minnesota agricultural commodities, and feasibility studies can help businesses set themselves up for long-term growth.”
The first step in this competitive grant process is submission of a Letter of Interest that will be reviewed by a committee. Letters of Interest will be reviewed in the order received until funding is exhausted. To learn more about the AGRI Value Added Feasibility Study Grant and to submit a Letter of Interest, visit http://www.mda.state.mn.us/grants/grants/vafeasibilitystudy.aspx.
The AGRI Program was established by the Minnesota Legislature to advance Minnesota’s agricultural and renewable energy industries. The AGRI Program focuses on creating jobs and profitable businesses in the areas of livestock investment, value-added business and market development, crop production and processing research, and renewable energy. For more information about the AGRI Program, visit http://www.mda.state.mn.us/grants/agri.aspx.
CONTACT: Alauna Yust, MDA Communications