August 06, 2013
Monticello Group Awarded Missouri Value-Added Grant
The Missouri Department of Agriculture announced that the Missouri Value-Added Beef Processing Group of Monticello has been awarded $161,000 in grant funding to assist them in growing their beef processing operation. The funding comes from the Missouri Value-Added Grant Program, which provides grants for projects that advance the development of Missouri agricultural products while aiding the economy of a rural community.
"These grants do more than just help expand businesses, they provide Missouri producers with the tools to add value to their agricultural products and the rural communities which support them," said Director of Agriculture Dr. Jon Hagler. "Missouri's small agri-business owners have been invaluable in growing Missouri's agriculture economy and ensuring the continued success of Missouri agriculture."
The Missouri Agricultural and Small Business Development Authority (MASBDA) awarded the grant to partially fund a feasibility study, marketing and business plan to investigate the potential of building and operating a commercial-scale beef processing, aging and portioning operation in Missouri.
The Missouri Value-Added Beef Processing Group estimates the total opportunity cost for not having a full suite of value-added services to finish, slaughter, handle offal, render, age and portion-cut beef products in Missouri could be in excess of $1.79 billion in revenue.
This is one of 12 value-added grants awarded by MASBDA, for 2013. This year's grants ranged from $17,000 to $198,000, for a total of $808,838 awarded, all with the goal of fostering new enterprises that will aid rural economic development. Applications for the 2013 grants were due to MASBDA in December 2012.
The grants are funded from the sale of tax credits and can be used for business planning purposes, such as feasibility studies and marketing plans. The maximum individual grant is $200,000, with the applicant required to provide a 10 percent cash match toward the eligible expenses. Recipients must also provide quarterly reports to MASBDA throughout their grant period.