Feb. 21 is deadline to apply for Livestock Investment Grant
By Janet Kubat Willette
Date Modified: 02/24/2014 11:20 PM
ST. PAUL — Farmers have until Feb. 21 to apply for the 2014 round of funding for the Livestock Investment Grant program.
Qualifying projects include the purchase, construction or improvement of buildings for livestock production, and the purchase of fencing, feeding and manure handling equipment.
Producers will receive up to 10 percent of the project's cost, with a $50,000 lifetime eligibility cap. The minimum investment required is $4,000. A total of $2 million per year is allocated for the grants.
The money is meant to be an incentive to invest in livestock projects in the state, said Minnesota Department of Minnesota grants administrator Dave Weinand.
The Livestock Investment Grant is funded through the Agricultural Growth, Research and Innovation fund. In past years, the LIG was a reimbursement program. It is now moving toward a fund that provides money in advance of the projects so the award letter can be taken to the bank when the producer seeks a loan, Weinand said.
The grants are another way for young, beginning farmers to get a foot in the door, he said. The agriculture department is also looking at other ways to leverage the AGRI fund dollars to help young and beginning farmers.
Applications for 2015 projects will be taken later this year.
The application for the Livestock Investment Grant can be found online at http://www.mda.state.mn.us/livestockinvestmentgrant