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CHICAGO (Reuters) - The U.S. government will invest at least $500 million to expand beef, pork and poultry processing capacity, Agriculture Secretary Tom Vilsack said on Friday, after consumers faced limits on meat purchases during the COVID-19 pandemic last year.
The money from a $1.9 trillion pandemic relief package approved in March will be awarded to meat processors in grants and loans to make the supply chain more resilient and increase competition in the sector, Vilsack said at a news conference in Council Bluffs, Iowa.
President Joe Biden signed a sweeping executive order that pushes the U.S. Department of Agriculture to crack down on abusive practices of some meat processors and promote more competition in the U.S. economy.
USDA unveils plan to help build small meat processing plants
In addition to the $500 million promised Friday to build plants, the USDA is pledging $150 million for existing small plants. Author: DAVID PITT Associated Press Published: 6:15 PM CDT July 9, 2021 Updated: 6:16 PM CDT July 9, 2021
DES MOINES, Iowa
The video in the player above is from May 2021.
The federal government promised Friday to spend $500 million to encourage the construction of smaller meat processing plants located closer to farmers who raise chickens, pigs and cows with the goal of diversifying an industry now largely run by a small number of large corporations.
U.S. Agriculture Secretary Tom Vilsack announced the program in Council Bluffs, Iowa, in addition to another $150 million to be used for existing small processing facilities with unexpected costs. The goal is to help them recover from the coronavirus pandemic and compete better in the marketp
U.S. Agriculture Secretary Tom Vilsack, in Iowa, announces $655 million in federal grants and loans aimed at expanding small and medium-sized meatpacking operations. At left is U.S. Rep. Cindy Axne. (Screenshot via USDA Facebook page)
The federal government will spend $655 million on loans and grants to help launch new meat-processing facilities to help compete with four major corporations that control the market, U.S. Agriculture Secretary Tom Vilsack announced Friday.
Included is a $500 million program aimed at establishing new or expanded operations, said Vilsack, a former Iowa governor, during an appearance in in Council Bluffs, Iowa. The money will come from the American Rescue Plan pandemic relief bill.
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