Panel hears measure to help farms, fisheries
A new bill being considered by the Legislature would help Maine’s farms and fisheries by directing the accrued interest in the Agricultural Marketing Loan Fund for competitive grants to fund feasibility studies or business plans for new agricultural infrastructure projects.
LD304, “An Act to Support Marketing of Maine’s Farms and Fisheries,” was heard by the Legislature’s Agriculture, Conservation, and Forestry committee on Thursday. It is being sponsored by state Sen. Dave Miramant, D-Camden.
Current law allows the Agricultural Marketing Loan Fund to offer direct loans to agricultural enterprises and businesses that produce, process, store, package or market agricultural products. The program works with private lenders to provide customized financing packages.
Since it was created in 1996, the fund has helped finance 117 projects, leveraging $23.5 million in agricultural infrastructure investments throughout the state, according to the Senate Democratic Office.
Examples of new farming business ventures include Northern Girl LLC, a produce distributor for institutions started in Aroostook County by Leah and Marada Cook, also co-owners of Crown O’ Maine Organic Cooperative, and their business partner and general manager Chris Hallweaver.
“For every new venture that has been created, there are several that are being conceived,” Miramant said in a statement. “And I see a role for the state to help Maine farmers, fishermen and fisherwomen move to the next level…”
The bill will be scheduled for a work session in the committee before it moves forward for the full Legislature to consider.
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