Provided by Mossy Oak Properties
The U.S. Department of Agriculture announced its plans to increase funding levels in rural areas across the country. In total, 21 states along with Puerto Rico will receive roughly $12.5 million to be used for infrastructure and business-supporting projects.
Department head Tom Vilsack has expanded upon his initial promise to assist small businesses in rural locations by implementing programs using funds from 2014's Farm Bill. The bill allowed for greater use of government appropriations in areas that needed them most. In many cases, businesses, farmers and landowners in underfunded heartland regions that were vital to the overall American food and crop system were uncertain whether additional financial assistance would be provided or if funding would lapse.
However, once the Farm Bill was enacted, the USDA has worked on a number of large-scale initiatives to promote the sustainable use of ag land, the success of small farmers and the need for a productive partnership between America's producers and state and local governments.
The $12.5 million will be awarded through 39 separate projects.
"Supporting small, rural businesses helps create jobs and helps promote entrepreneurship," Vilsack said in a statement. "USDA Rural Development's field structure enables our community-based staff to engage with local partners and, in turn, enables these partners to provide their local small businesses and start-ups access to the capital and technical assistance they need to be competitive in today's global economy."
Other similar measures are being taken by individual states. The Texas Department of Commerce created a grant program to assist younger farmers who are promoting sustainable small-business ag growth. With dollar-to-dollar matching for producers, the hope is to provide the type of capital farmers need to succeed in the state.
For more information on the land sales industry and how you can potentially benefit from USDA partnerships, contact Mossy Oak Properties today.