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News Brief

Oct. 8, 2023Jefferson City, Mo. |  By: Jeremy Werner

MO meat processors have access to tax credits

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JEFFERSON CITY, Mo. - The Missouri Agricultural and Small Business Development Authority is inviting applications for tax credit programs aimed at supporting the state's meat processors and specialty crop producers.

In a press release, Director of Agriculture Chris Chinn emphasized the significance of local meat processing for livestock producers and the positive impact on local economies.

The Meat Processing Facility Investment Tax Credit program offers processors a tax credit of up to 25% of eligible expenses, not exceeding $75,000 per facility per year.

The Specialty Agricultural Crops Loan Program provides tax credits to lenders for a family farmer's first-year interest payment on loans up to $35,000. For details and applications, visit masbda.com.