August 06, 2013
Jefferson City Soybean Group Awarded Missouri Value-Added Grant
The Missouri Department of Agriculture announced that the Specialty Soybean Meal Opportunities Steering Committee of Jefferson City has been awarded $198,000 in grant funding to assist them in growing soybean production in Missouri. 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, market analysis and business plan to determine whether a group of Missouri soybean producers could contract-produce low-oligosaccharide, reduced trypsin-inhibitor soybean breeder stock seed. Soybean meal is a common high protein feed ingredient for livestock, however early-weaned pigs, broilers and turkey are highly sensitive to certain anti-nutritional factors in soybeans. Missouri currently has nearly 4 million head of cattle, 2.75 million hogs, 17.5 million turkeys and over 11 million chickens.
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.