Grant program helps grow Kentucky’s agriculture economy
Grant program helps grow Kentucky's agriculture economy Spectrum News 1
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Seven Businesses Receive Bluegrass AgTech Development Corp Incentive Grants
LEXINGTON, Ky. — The Lexington-Fayette Urban County Government has announced the first recipients of the Bluegrass AgTech Development Corp incentive grants. These grants aim to attract agricultural and food-based businesses to locate in Kentucky.
What You Need To Know
- The Lexington-Fayette County Urban Government announced the first recipients of the Bluegrass AgTech Development Corp incentive grants.
- The program is designed to attract more agri-food and agri-business companies to Kentucky.
- Grants will provide incentive funding, promotional opportunities, and other resources.
- Seven businesses received a total of $625,000.
“We want to become the international address of agtech businesses, and this is an exciting step forward,” said Lexington Mayor Linda Gorton.
Bluegrass AgTech works to cultivate an innovative ecosystem for entrepreneurs and startups in the agricultural sector. Partners include the City of Lexington, the Kentucky Department of Agriculture and its Kentucky Agricultural Development Fund, the University of Kentucky Martin-Gatton College of Agriculture, Food and Environment, and Alltech, a global company that works to improve the health of people, animals, and plants through nutrition and scientific innovation.
Bluegrass AgTech received 29 applications after announcing the grant program in November 2023. The following companies were selected as the winners:
- HempWood
- Iristrac
- Lepidex Inc.
- Parasight System Inc.
- RedLeaf Biologies
- Spirited, Inc.
- Sunflower Fuels
“The vision for Bluegrass AgTech was developed over four years ago, and the announcement of these awards is a major milestone,” said Nancy Cox, Vice President of Land-Grant Engagement and Dean of the Martin-Gatton College of Agriculture, Food and Environment.
Through the grant program, Bluegrass AgTech is connecting individuals in the agricultural industry with both public and private funding sources to attract new agri-food and agri-business companies to Kentucky. This initiative aims to boost the state’s economy while ensuring a more affordable and sustainable food future.
The grants will provide incentive funding, promotional opportunities, and other resources, according to Bob Helton, Executive Director of Bluegrass AgTech Development Corp. Selected recipients will also receive support such as mentorship, referrals to professional services, and other business development assistance.
“The Bluegrass AgTech grants empower innovators and entrepreneurs, cementing Kentucky’s leadership in agricultural innovation,” said Jonathan Shell, R-Ky., Commissioner of Agriculture.
Applicants were eligible to apply for up to $100,000 of grant funding, and the seven recipients received a total of $625,000. The grant program was open to registered, for-profit businesses located in or willing to establish a presence in Lexington or Kentucky. The city of Lexington contributed $1 million to establish the grants, and the state provided $1 million through the Kentucky Agricultural Development Fund.
SDGs, Targets, and Indicators in the Article
1. Which SDGs are addressed or connected to the issues highlighted in the article?
- SDG 2: Zero Hunger
- SDG 8: Decent Work and Economic Growth
- SDG 9: Industry, Innovation, and Infrastructure
- SDG 12: Responsible Consumption and Production
- SDG 17: Partnerships for the Goals
2. What specific targets under those SDGs can be identified based on the article’s content?
- SDG 2.3: By 2030, double the agricultural productivity and incomes of small-scale food producers, particularly women, indigenous peoples, family farmers, and fishers, including through secure and equal access to land, other productive resources and inputs, knowledge, financial services, markets, and opportunities for value addition and non-farm employment.
- SDG 8.2: Achieve higher levels of economic productivity through diversification, technological upgrading, and innovation, including through a focus on high-value added and labor-intensive sectors.
- SDG 9.3: Increase the access of small-scale industrial and other enterprises, in particular in developing countries, to financial services, including affordable credit, and their integration into value chains and markets.
- SDG 12.2: By 2030, achieve the sustainable management and efficient use of natural resources.
- SDG 17.17: Encourage and promote effective public, public-private, and civil society partnerships, building on the experience and resourcing strategies of partnerships.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
Yes, the following indicators can be used to measure progress towards the identified targets:
- Number of agri-food and agri-business companies attracted to Kentucky
- Amount of grant funding received by businesses
- Number of jobs created in the agricultural sector
- Amount of economic growth generated by the agricultural sector
- Level of technological innovation and adoption in the agricultural sector
- Efficiency of natural resource management in the agricultural sector
- Number of partnerships established between public, private, and civil society organizations in the agricultural sector
SDGs, Targets, and Indicators Table
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 2: Zero Hunger | SDG 2.3: By 2030, double the agricultural productivity and incomes of small-scale food producers, particularly women, indigenous peoples, family farmers, and fishers, including through secure and equal access to land, other productive resources and inputs, knowledge, financial services, markets, and opportunities for value addition and non-farm employment. | – Number of agri-food and agri-business companies attracted to Kentucky – Amount of grant funding received by businesses – Number of jobs created in the agricultural sector |
| SDG 8: Decent Work and Economic Growth | SDG 8.2: Achieve higher levels of economic productivity through diversification, technological upgrading, and innovation, including through a focus on high-value added and labor-intensive sectors. | – Amount of economic growth generated by the agricultural sector – Level of technological innovation and adoption in the agricultural sector |
| SDG 9: Industry, Innovation, and Infrastructure | SDG 9.3: Increase the access of small-scale industrial and other enterprises, in particular in developing countries, to financial services, including affordable credit, and their integration into value chains and markets. | – Number of agri-food and agri-business companies attracted to Kentucky – Amount of grant funding received by businesses – Number of partnerships established between public, private, and civil society organizations in the agricultural sector |
| SDG 12: Responsible Consumption and Production | SDG 12.2: By 2030, achieve the sustainable management and efficient use of natural resources. | – Efficiency of natural resource management in the agricultural sector |
| SDG 17: Partnerships for the Goals | SDG 17.17: Encourage and promote effective public, public-private, and civil society partnerships, building on the experience and resourcing strategies of partnerships. | – Number of partnerships established between public, private, and civil society organizations in the agricultural sector |
Source: spectrumnews1.com
