The Tennessee Department of Agriculture (TDA) released the first round of recipients for its new Tennessee Forestry, Agriculture, and Rural Markets (FARM) cost share program.
TDA’s FARM cost share program provides financial assistance to agricultural, food, forestry, and nonprofit agricultural entities in the state. The program specifically funds projects that promote “stabilizing and strengthening the supply chain to prevent future challenges,” according to a press release by TDA.
Altogether, TDA received 259 applications and funding requests exceeded $107 million in round one of the program, which accepted applications during March.
After each application was scored independently by three different TDA staff members and then reevaluated by a larger group of TDA staff with agribusiness expertise, a total of 20 agricultural, food, forestry, and nonprofit entities in Tennessee received a combined total of more than $18 million in funding, according to TDA.
“We are proud that this new program attracted strong interest from the agribusiness community,” Agriculture Commissioner Charlie Hatcher, D.V.M. (pictured above) said in a statement. “We received 259 applications and funding requests exceeded $107 million. We thank Governor Lee and the Financial Stimulus Accountability Group for the allocation to support Tennessee’s farm and forest families.”
The second round of funding from TDA’s cost share program will award an estimated $15 million. Applications for the second round will be open during November.
“We invite the businesses that did not receive funding this time to apply again,” Commissioner Hatcher added. “And if the FARM cost share isn’t the right fit for you, I encourage you to reach out to our Business Development Division to learn more about the Agricultural Enterprise Fund and other programs designed to boost agribusiness in Tennessee.”
The program is funded by the state’s allocation of American Rescue Plan funding through the State and Local Fiscal Recovery Fund.
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Kaitlin Housler is a reporter at The Tennessee Star and The Star News Network.
Photo “Charlie Hatcher” by Tennessee Department of Agriculture. Background Photo “Tennessee State Capitol” by Reading Tom. CC BY 2.0.
Who owns Double J Holdings in Lawrenceburg Tn? Is it possibly a new company building here
Only one from W TN.
Good comment Joe. “Cost sharing” is politispeak for “taxpayer exploitation” paying the business costs for some lucky people, who will them make money by selling stuff at a higher price than the tax funded ‘cost share,’ to the same taxpayers that paid their business costs.
May I please have some “free” money too?