USDA invests $15 million in Indiana through the Meat and Poultry Intermediary Lending Program
INDIANAPOLIS, June 29, 2023 – The United States Department of Agriculture (USDA) Rural Development (RD) Indiana State Director, Dr. Terry Goodin, announced today that USDA is partnering with the Indiana Department of Agriculture, making investments to increase independent meat and poultry processing capacity, expand market opportunities for farmers and support a growing workforce in rural areas. Indiana State Department of Agriculture will receive $15 million from the USDA Meat and Poultry Intermediary Lending Program (MPILP) to help Indiana packers and processors meet increased consumer demand.
“This grant shows the importance of investing locally,” Goodin said, “Rural Hoosier livestock producers need to be able to send their market ready livestock without delays. This program ensures that livestock can be processed within their communities.”
The Indiana Meat and Poultry Intermediary Lending Program is a multi-agency partnership that assists small and very small Indiana meat packers and processors with access to affordable capital for meat expansion projects. This intermediary lending program addresses critical meat expansion needs that have developed and continued since the COVID-19 pandemic. It supports local livestock producers by allowing their market-ready livestock to be processed within their communities by reducing processing booking delays. Meat expansion projects will help Indiana packers and processers meet increased consumer demand while adding local job opportunities and tax revenues for local communities and the state. The Indiana State Department of Agriculture (ISDA) is partnering with Indiana Economic Development Corporation (IEDC) to establish an Intermediary Lending Program specifically for small and very small Indiana meat and poultry processors.
“This grant funding helps Hoosier intermediary lenders who finance – or plan to finance – the start-up, expansion, or operation of slaughter or other meat and poultry processing,” Goodin stated, “The program aims to strengthen the financing capacity for independent meat processors and create a more resilient, diverse, and secure U.S. food supply chain.”
Meat and Poultry Intermediary Lending Program (MPILP)
The Meat and Poultry Intermediary Lending Program (MPILP) provides grant funding to intermediary lenders who finance the start-up, expansion, or operation of independent meat and poultry processing facilities. The objective of the MPILP is to strengthen the financing capacity for independent meat processors, and to create a more resilient, diverse, and secure U.S. food supply chain. To date in fiscal year 2023, USDA has awarded $186 million to 24 MPILP projects that supported economic growth in 14 states and Puerto Rico.
Rural Development provides loans and grants to help expand economic opportunities, create jobs and improve the quality of life for millions of Americans in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety, and health care; and high-speed internet access in rural, Tribal, and high-poverty areas. To learn more, visit http://www.rd.usda.gov/in.
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