Friday, 01 18, 2013
FRANKFORT, Ky. (Jan. 18, 2013) - Today the Kentucky Agricultural Development Board (KADB), chaired by Governor Steve Beshear, approved $798,231 for 12 county agricultural diversification projects across the Commonwealth during its January board meeting at the Kentucky Chamber of Commerce headquarters.
The County Agricultural Investment Program (CAIP) is designed to provide farmers with incentives to allow them to improve and diversify their current production practices. CAIP covers a wide variety of on-farm agricultural enterprises in its 10 investment areas, including production, marketing and value-added processing. Five CAIPs were approved by the board totaling $520,317 for Breckinridge, Butler, Muhlenberg, Rowan and Russell counties.
In addition to these new approvals, an additional $265,398 was approved to supplement existing CAIPs in the following counties: Cumberland, Mercer, Metcalfe, Owen and Shelby.
The Deceased Farm Animal Removal Program serves as a measure to facilitate the coordination of environmentally sound and cost-effective disposal of deceased livestock for Kentucky producers. One Deceased Farm Animal Removal Program was approved for Clinton County totaling $1,150.
The Shared-use Equipment Program is designed to benefit a high number of producers who cannot justify ownership expenses associated with certain equipment by helping them access technology necessary to improve their operations in an economical manner. One Shared-use Equipment Program was approved by the board in the amount of $11,366 for Mercer County.
Gov. Steve Beshear and the Kentucky General Assembly continue to make great strides toward lessening Kentucky's dependence on tobacco production while revitalizing the farm economy by investing 50 percent of Kentucky's Master Settlement Agreement into the Kentucky Agricultural Development Fund.
To date, Kentucky has invested more than $390 million in an array of county, regional and state projects designed to increase net farm income and create sustainable new farm-based business enterprises. These funding approvals, made possible by the Kentucky Agricultural Development Fund, represent just a few of the more than 4,000 projects approved, since the inception of the program in January 2001.