WASHINGTON, DC – In an effort to support Maryland-based small- and medium-sized food businesses and address processing delays, Congressman Steny H. Hoyer, U.S. Senators Chris Van Hollen and Ben Cardin, and Congressmen Dutch Ruppersberger, John P. Sarbanes, Kweisi Mfume, Andy Harris, M.D., Jamie Raskin, David J. Trone, and Glenn Ivey have announced $3.8 million in funding through the U.S. Department of Agriculture’s (USDA) Meat and Poultry Intermediary Lending Program.
The funds will be allocated to the Maryland Agricultural and Resource-Based Industry Development Corporation (MARBIDCO) to enhance its loan program, enabling local food businesses to expand their capacity for meat and invasive Blue Catfish processing within the state.
Maryland is home to nearly 4,000 farms that raise livestock. At the same time, commercial watermen in the Chesapeake Bay harvest over 5 million pounds of invasive and predatory Blue Catfish, whose population is projected to increase. Despite these agricultural activities, the state currently has only 18 USDA-approved small, continuous inspection facilities. As a result, farmers and watermen often face long processing appointment wait times. With the newly secured funding, MARBIDCO aims to leverage its expertise in assisting Maryland’s small to mid-sized meat processors to expand or establish their operations. The goal is to reduce processing times and expedite the availability of local meat and Blue Catfish in the market.
Lawmakers supported the investment and emphasized its potential benefits for Maryland’s economy. They pointed out that the state’s agriculture and seafood industries contribute billions of dollars to the economy while supplying the region and the country with food. However, the limited processing resources have led to competition among farmers and watermen, resulting in delays and adverse economic consequences. The federal funding will help boost local meat and fish processing services, generating more business opportunities for farmers and watermen, facilitating the removal of invasive Blue Catfish from the Bay, and potentially lowering food costs for consumers. The lawmakers pledged to continue addressing the underlying causes of processing delays to support the local agricultural and fishing industries.
MARBIDCO plans to utilize the revolving loan program to provide loans ranging from $200,000 to $4,000,000 to eligible applicants. The funds will be used to purchase livestock processing and cold storage equipment, construct or upgrade meat processing facilities, and acquire real estate for livestock processing purposes. Additionally, MARBIDCO will match the equity contribution of approved applicants on a dollar-for-dollar basis, with a maximum grant award amount of $250,000, capped at 10 percent of the project costs.
Headquartered in Annapolis, MARBIDCO is a quasi-public economic development organization chartered by the State of Maryland. The organization’s primary mission is to support the growth and prosperity of Maryland’s small and family-owned farm, forestry, and seafood businesses. MARBIDCO achieves this by providing targeted financial and other services that promote rural entrepreneurship, nurture emerging or expanding agricultural enterprises, and facilitate retaining existing resource-based industry production and commerce.
The investment of $3.8 million in Maryland’s meat and fish processing sector is seen as a significant step forward for the state’s agricultural and fishing industries, as well as for the overall health of the Chesapeake Bay. It is expected to enhance processing capacity, reduce wait times, and create new economic opportunities, ultimately benefiting farmers, watermen, and consumers alike.
