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First Industries
Part of the First Industries Agriculture fund, planning grants of up to $175,000
per project may be awarded to eligible applicants to pay for the cost of predevelopment
activities and feasibility studies for agriculture-related projects.
Summary
First Industries is one of 19 programs in the June 2004 economic stimulus
package. It provides $100 million for agriculture, and $50 million for tourism.
Final guidelines were approved by the Commonwealth Financing Authority (CFA) in
December 2004 and can be accessed at www.newpa.com.
Funds will flow to agriculture and tourism in four ways:
- Dedicated funding for the Small Business First program (SBF)
- Dedicated funding for the Machinery and Equipment Loan Fund (MELF)
- A new loan guarantee program; and
- A new planning grant program for feasibility studies, business and marketing plans,
and other pre-construction costs
Eligible Applicants
- Production agriculture
- Agricultural processing
- Farmers markets
- Wholesalers
- Retail grocers (but not convenience stores) in rural and urban under-served areas
Eligible Uses
- Land, buildings, working capital, equipment, etc. per current SBF and MELF guidelines
- Implementing Best Management Practices
- Energy-related activities impacting production agriculture or agribusiness
- Planning grants of up to $175,000 per project to pay for predevelopment activities
and feasibility studies for agriculture-related projects
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