Investments Made to Increase Competition and Expand Meat and Poultry Processing Capacity
More than $223 million in grants and loans aim to increase competition and economic opportunities for meat and poultry processors and producers around the country while helping to lower costs.
U.S. Department of Agriculture (USDA) Secretary Tom Vilsack announced a $73 million investment in 21 grant projects through the first round of the Meat and Poultry Processing Expansion Program (MPPEP). The MPPEP aims to increase competition across the economy to help lower costs for American families, and this announcement is expected to expand meat and poultry processing capacity, which in turn is expected to increase competition, supports producer income and strengthen the food supply chain to lower costs. Additionally, $75 million will be invested in eight projects through the Meat and Poultry Intermediary Lending Program, as well as more than $75 million for four meat- and poultry-related projects through the Food Supply Chain Guaranteed Loan program.
These investments are part of a series of financial assistance tools to support producers and lenders in increasing capacity in the food supply chain.