Farms.com Home   Ag Industry News

Government Assistance Drives Demand for Grain Bagging Equipment

By Jean-Paul MacDonald, Farms.com

A new government cost-sharing program is creating a surge in demand for grain bagging equipment among farmers and ranchers in specific regions. The Emergency Grain Storage Facility Assistance Program (EGSFP), launched by the USDA, aims to support areas affected by weather disasters that caused damage to existing grain storage facilities.

Farmers in select counties across Minnesota, North Dakota, South Dakota, Illinois, Indiana, Iowa, Missouri, Tennessee, and Kentucky may be eligible for reimbursements of up to 90% on equipment purchases. The program covers eligible expenses associated with constructing on-farm grain storage facilities, including grain baggers.

Anticipated to cover 75% of eligible expenses for most farmers and ranchers, the cost-sharing payments have particularly favorable terms for underserved producers, including beginning, limited resource, socially disadvantaged, and veteran farmers and ranchers. These individuals may receive up to 90% cost sharing, with a maximum payment limit of $125,000 per person or legal entity.

Manufacturers and equipment dealers are excited about the potential increase in sales due to the EGSFP. Industry experts encourage farmers and dealers in eligible counties to act promptly and educate themselves about the program to take advantage of the cost-sharing opportunities. Increasing awareness among farmers is crucial, as demand for equipment remains high, and lead times may vary.

Farmers can apply for cost-sharing at their local Farm Service Agency office by filling out the necessary forms, such as FSA-413. Underserved producers will also need to complete form CCC-860 to verify their status. The application period concludes on December 29, 2023.

For more information, farmers can visit the USDA's program webpage or download the EGSFP fact sheet. Additionally, a map of eligible counties is available for download, providing clarity on the program's coverage areas.


Trending Video

Dallas Loff on Sustainable Farming in North Dakota

Video: Dallas Loff on Sustainable Farming in North Dakota

Dallas Loff on Sustainable Farming in North Dakota | | Soybean Research & Information Ne
 

Comments


Your email address will not be published