JEFFERSON CITY, Mo. — Today, the Missouri Agricultural and Small Business Development Authority (MASBDA) announced 10 businesses have been awarded value-added grants totaling $626,771.
For more than two decades, MASBDA, which is housed at the Missouri Department of Agriculture, has awarded value-added grants to foster new enterprises that will aid rural economic development. The grants are funded from the sale of the Agricultural Product Utilization Contributor Tax Credit.
“MASBDA is a silent partner to many small business projects across the state” said Jill Wood, executive director of MASBDA. “The demand for these funds has been impressive in the last three years. Our board of directors and team are thrilled to see these small businesses receive the support they need to advance agriculture in their communities.”
This funding can be used for business planning purposes such as feasibility studies, marketing plans, business plans and legal assistance, but cannot be used for capital expenditures, salaries, or operating funds.
The maximum individual grant is $200,000, with the applicant required to provide a 10 percent cash match toward the eligible expenses. The grants were awarded to:
Marion County Port Authority, Hannibal ($27,500) – Strategic planning, marketing study and financial planning for a proposed Marion and/or Ralls County Port Development.
Cuba Processing Plant, LLC, Cuba ($45,540) – Marketing plan, business plan and legal assistance to determine market potential and costs associated with processing custom meat products.
Ozark Viking Meadery, LLC, Salem ($22,550) – Feasibility study, marketing analysis and financial analysis for establishing a meadery in Salem.
Green Dirt Farm LLC, Weston ($47,630) – Market analysis, marketing plan and business plan for expanding production of value-added sheep milk products.
Southwest Missouri Farmers Meat Processing Plant, Stotts City ($30,400) – Feasibility study, market analysis and financial analysis for establishing a meat processing facility in Lawrence County.
Columbia Center for Urban Agriculture C/O MO Meat Processing Coop, Columbia ($86,229) – Feasibility study, marketing plan, business plan, and legal assistance for establishing a meat processing facility in the Columbia area.
Mid-Missouri Soybean Crush, Auxvasse ($110,000) – Legal assistance for the development of a farmer owned soybean crush plant.
Southeast Enterprises, Kansas City ($57,332) – Feasibility study, market analysis, marketing plan, and business plan for expanding blending, filling and packaging operations to allow smaller, rural producers to expand, as well as larger producers in the KC Metro Area.
Vernon County Meat Partnership Board, Nevada ($60,000) – Marketing study, feasibility study and financial analysis for a meat processing plan in Vernon County.
Missouri Beef Processors, Palmyra ($139,590) – Marketing plan, business plan, and legal assistance for establishing a beef processing plant in Missouri.
All grants were awarded on a competitive basis. Applications were scored based on their economic development potential for the agriculture industry, credibility and merit, probability of near-term commercialization and practical application of project results, source and level of matching funds and the likelihood of a project’s success.
For more information on the Missouri Agricultural and Small Business Development Authority, please visit MASBDA.com.
— MASBDA via Missouri Department of Agriculture
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