Thursday, 04 17, 2014
HARRODSBURG, Ky. (April 17, 2014) – Today the Kentucky Agricultural Development Board (KADB), chaired by Gov. Steve Beshear, approved $150,363 for eight agricultural diversification projects across the Commonwealth during its April board meeting at the Mercer County Cooperative Extension Office.
State and regional investments approved included:
Economic Impact Study
The Kentucky Distillers’ Association was approved for up to $11,250 in state funds to commission a study of the economic impact of Kentucky’s distilling industry. The study will highlight the state and local impact that the distilling community, particularly craft distillers, has on Kentucky, including the effect on our agricultural economy. The analysis and study will be published by the University of Louisville Urban Studies Institute. Key economic statistics will be updated and strategies developed to increase production, create jobs and better use local grains and markets. For more information about this project, contact Eric Gregory, president of the association, at 502-875-9351 or firstname.lastname@example.org. For more information about the Kentucky Distillers’ Association, visit www.kybourbon.com.
County investments approved included:
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. Two Deceased Farm Animal Removal Programs were approved for Fleming and Scott counties, totaling $12,750.
The County Agricultural Investment Program (CAIP) is designed to provide farmers with incentives to allow them to improve and diversify their current production practices in an effort to increase net farm income. CAIP covers a wide variety of on-farm agricultural enterprises in its 10 investment areas, including production, marketing and value-added processing. Two CAIPs were approved by the board totaling $72,837 for Estill and Garrard counties.
In addition to these new approvals, an additional $30,826 was approved to supplement an existing CAIP in Carroll County.
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. Two Shared-use Equipment Programs were approved by the board for Montgomery and Nicholas counties, totaling $22,700.
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 a portion of Kentucky's Master Settlement Agreement Funds into the Kentucky Agricultural Development Fund.
To date, Kentucky has invested more than $400 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 4,800 projects approved, since the inception of the program in January 2001.
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