Boosting Agri-economy - USDA's new investments to revitalize food supply

Nov 28, 2023

In a landmark move by the administration, the USDA has declared substantial investments to reinforce the American agricultural sector. This action is part of the inaugural meeting of the White House Council on Supply Chain Resilience, aligning with the President's agenda to enhance the nation’s economic and national security. 

A total of nearly $196 million is being invested across 185 projects in various states and Puerto Rico. These investments are designed to create new market opportunities for agricultural producers and entrepreneurs, aiming to lower food costs and boost economic growth. 

For instance, Texas-based Lone Star Bakery will benefit from a significant loan to modernize their facilities, enhancing their product offerings. In Arizona, Merchant’s Garden LLC is set to expand its reach in the organic salad market with a substantial grant. Similarly, Nebraska's Lot 279, LLC will leverage their grant to increase direct-to-consumer beef sales, expecting to substantially grow their revenue and customer base. 

These projects are supported through diverse programs such as Rural Business Development Grants, Value-Added Producer Grants, and Business and Industry Loan Guarantees. These initiatives not only support local businesses but also promote sustainable farming practices and food processing methods. 

The focus of the USDA under this administration is not just on economic growth but also on building a more resilient and equitable food system. This involves fostering local and regional food production, creating fairer markets, and ensuring access to healthy food for all communities. The emphasis is also on climate-smart practices and investing in rural infrastructure and clean energy. 

Source : wisconsinagconnection