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Business Brief - Feb. 17, 2010

Illinois getting specialty crop $$

SPRINGFIELD, Ill. (AP) — Illinois will get $209,000 more in federal block grant funds next year to improve competitiveness of specialty crops.
The USDA will make “mini-grants” to expand markets for fresh produce. Officials are encouraging specialty crop growers to apply for money by April 30; a total of more than $640,000 is available.
Projects should aim to increase nutrition knowledge and specialty crop consumption, improve efficiency and reduce costs of distribution, invest in research, enhance food safety, develop new seed varieties and more. Also eligible are projects that improve access to the crops in underserved areas and advertising expenses to publicize farmers’ markets.

Beef Leaders deadline March 1

ST. JOSEPH, Mo. — The American Angus Assoc. (AAA) will host its third annual Beef Leaders Institute (BLI) June 2-4. Applications are now being accepted for the event and are due by March 1.

Limited to 20 participants, the BLI is designed for AAA members 25-45 years of age, to provide insight into all beef industry segments while enhancing their knowledge of the AAA and strengthening leadership skills. The BLI includes three days of tours, including a beef harvesting and packing facility, retailer, fabricator, feedlots and other industry segments.

The AAA will provide transportation, lodging, meals and materials during the BLI. Attendees will be responsible for round-trip transportation between their home and either Kansas City or St. Joseph, Mo. Applications are available at www.angus.org/pub/2010BLI Application.pdf or by contacting the Activities Department. Questions can be directed to Shelia Stannard at sstannard @angus.org or by calling 816-383-5100.

Dow acquires Hyland Seeds

CALGARY, Ontario — Dow AgroSciences Canada announced it is acquiring the assets of Hyland Seeds, a division of Thompsons Limited of Blenheim, Ontario. The addition of Hyland Seeds will further expand Dow’s seeds business as the company anticipates the introduction of SmartStax in 2010 and Dow AgroSciences Herbicide Tolerant Trait Technology in corn in 2012. The transactional close is expected in the near future.

Under the terms of the agreement, Dow AgroSciences will acquire the Hyland brand and the sales, marketing and administrative areas. The acquisition also includes germplasm, the research and development (R&D) program with three R&D sites and the corn production facility. Dow AgroSciences will continue to independently market seeds under the Hyland Seeds brand, and Hyland will continue to be headquartered at its existing location in Blenheim. John Cowan, general manager for Hyland Seeds, will continue in the same position.

Further details of the agreement were not disclosed.

Indiana unveils ‘signature wine’
INDIANAPOLIS, Ind. — Indiana’s inaugural signature wine was introduced by representatives of the Indiana Department of Agriculture, the state’s Office of Tourism, the Indiana Wine Grape Council and numerous Hoosier winemakers.

Traminette, a fragrant and floral white wine, becomes the first vintage to carry Indiana’s signature status, thanks in part to grapes developed specifically to flourish in the state’s climate. Officials explained how a signature wine initiative will help boost not only Indiana agriculture and tourism, but also further advance recognition of Indiana’s rich winemaking heritage throughout the nation.

Currently, more than 20 of the state’s 43 wineries are offering their own unique take on this new signature wine. One vintner already on a first-name basis with Traminette is Bill Oliver of Bloomington’s Oliver Winery. Oliver-produced Traminette picked up the “Traminette of the Year” trophy during this past summer’s Indy International Wine Competition.

For additional information about Indiana’s signature wine, log on to www.TryOnTraminette.org

KAFC approves $120K in loans

LOUISVILLE, Ky. — The Kentucky Agricultural Finance Corp. (KAFC), chaired by Agriculture Commissioner Richie Farmer, approved $120,000 in agricultural loans for projects in the Commonwealth during its regular monthly business meeting.

The KAFC participates with lenders to provide financing to producers making capital expenditures for agricultural projects through the Agricultural Infrastructure Loan Program. Eligible projects include permanent farm structures with attached equipment that improves the profitability of farming operations. One such loan was approved for $20,000 in Mercer County.

The Large/Food Animal Veterinary Loan Program is designed to assist individuals licensed to practice veterinary medicine in Kentucky who desire to construct, expand, equip or buy into a practice serving large animal producers, as well as other smaller food animals. KAFC participates with a local lender to provide financing. One loan was approved for $100,000 in Barren County.
For more information on programs, contact Bill McCloskey, director of KAFC Financial Services, at 502-564-4627 or visit http://kafc.ky.gov

2/17/2010