Kentucky Agriculture Development Overview

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This overview covers the distribution of funds in the Kentucky agriculture sector, including various investment programs such as the Meat Processing Investment Program, Kentucky Ag Development Funds, and more. It details financial allocations from the Master Settlement Agreement and General Assembly Budget, with a focus on promoting agricultural growth and sustainability in the state.

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Uploaded on Mar 13, 2025 | 0 Views

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FY20-21 Master Settlement Agreement Payment Estimated Funds from tobacco companies -based on cigarette sales $106,300,000 General Assembly Budget $75,436,800 ($30,863,200 is subtracted for the Finance and Administration Cabinet and debt service on rural water and sewer lines) Agriculture Healthcare & Early Childhood Development $38,481,800 $38,481,100 Conservation District/ Energy & Environment Cabinet $3,386,800 State Funds $20,315,600 Farms to Food Banks $500,000 GOAP KADF State Projects County Funds $14,279,200 $34,594,800 KAFC Loan Programs

Kentucky Ag Development Funds CAIP 85% to farmer cost-share YAIP investment in youth Next Gen putting beginning farmers in front of the line On-Farm Energy improve efficiency On-Farm Water harvesting and conserving water Meat Processing Investment Program More than $626,000,000 invested Farm gate cash receipts have grown from $3.7 billion to $5.7 billion on a low market It has been amazing UK Grain and Forage Center of excellence KY Proud KY Beef Network KY Dairy Development Council KY Horticulture council KCARD Hopkinsville Elevator, Agri-energy Owensboro Grain KSU mini grants KY 4-H and FFA Foundations Farmer markets

Meat Processing Investment Program Level 1 for USDA-inspected plants establish a baseline KY animals processed over the baseline $100 cattle, $50 hogs, $25 sheep or goat, $1 chicken with an annual cap of $20,000 per facility Level 2 for custom or USDA-inspected KADF as a forgivable loan up to 75% of the project not to exceed $37,500. Applicant must provide documentation of an increase in KY animals processed. Level 3 - for custom or USDA-inspected KADF as a forgivable loan up to 75% of the project not to exceed $250,000. Applicant must provide documentation of an increase in KY animals processed. Required business plan by KCARD and site visit from meat science specialist.

Meat Processing Investment Program Level 4 New facilities (not approved) - no more than 50% of the project with KADF - county funds matched with state funds, with remainder of 50% an Ag Finance loan - Required advisory team site visit (KCARD business plan, advice on food safety, scope of pens, kill floor, coolers, cutting room, freezers and labor needed.) Reality check - Cap $500,000 KADF - must show geographic need

USDA Inspected Plants USDA requested level 2-3 Custom requested Level 2-3 Just received application

Kentucky Ag Finance Corporation 729 loans approved $94,460,504 $86,474,973 loaned or obligated 68% Beginning Farmers Participating loans at 2.75% interest .75% to lender to service the loan 2% plus principle returns to KAFC $800,000 to $1,000,000 a month 12-15 loans a month average $1.8 - $2.5M 7 bad loans No administrative cost charged to KAFC We have money in Frankfort investing in agriculture and making money.