By Jean-Paul MacDonald, Farms.com
A new government cost-sharing program is creating a surge in demand for grain bagging equipment among farmers and ranchers in specific regions. The Emergency Grain Storage Facility Assistance Program (EGSFP), launched by the USDA, aims to support areas affected by weather disasters that caused damage to existing grain storage facilities.
Farmers in select counties across Minnesota, North Dakota, South Dakota, Illinois, Indiana, Iowa, Missouri, Tennessee, and Kentucky may be eligible for reimbursements of up to 90% on equipment purchases. The program covers eligible expenses associated with constructing on-farm grain storage facilities, including grain baggers.
Anticipated to cover 75% of eligible expenses for most farmers and ranchers, the cost-sharing payments have particularly favorable terms for underserved producers, including beginning, limited resource, socially disadvantaged, and veteran farmers and ranchers. These individuals may receive up to 90% cost sharing, with a maximum payment limit of $125,000 per person or legal entity.