Agriculture Secretary Tom Vilsack Wednesday announced the Notice of Funding Opportunity for the first tranche of funding under the USDA's new Regional Agricultural Promotion Program. USDA is providing up to $300 million in funding in its first year to support eligible projects that enable exporters to break into new markets and increase market share in growth markets.
Secretary Vilsack announced the funding at the President's Export Council, after announcing the establishment of the program in October. The effort is a $1.2 billion program made possible through the Commodity Credit Corporation, which will be made available over five years. Vilsack says, "It takes significant investment to open and develop new export markets and this new fund will be dedicated to helping provide that start-up capital."
The funds are available to non-profit U.S. agricultural trade organizations, non-profit state regional trade groups, agricultural cooperatives, and state agencies that conduct approved market development activities. Applications are due in February and more information is available at grants.gov.
- NAFB