To combat consolidation in the US meat processing industry, the Biden administration has pledged to invest approximately $1 billion to expand independent meat processing capacity in the United States. The money to be used will come from the American Rescue Plan that was signed into law in March 2021. The US Department of Agriculture (USDA) will provide financing grants up to $375 million in two phases as part of the program. Phase I will invest approximately $150 million for an estimated 15 projects that are considered to have the greatest near-term impact. The USDA will deploy an additional $225 million to support additional projects in phase Ⅱ, which will take place in summer 2022. Additionally, the USDA will work with lenders to make more capital available to independent processors that need credit. Up to $275 million will be deployed as part of the program. The Biden administration also said it will support private lenders that invest in independently owned food processing and distribution infrastructure.
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