| Business Briefs - Jan. 12, 2011 |
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Districts get $570K in Clean Water Indiana Grants
INDIANAPOLIS, Ind. — The Indiana State Department of Agriculture Division of Soil Conservation (ISDA-DSC) and the State Soil Conservation Board (SSCB) have selected 2011 recipients of Clean Water Indiana Grants.
A total of $573,408 was awarded to all 88 Soil and Water Conservation Districts (SWCDs) that submitted a grant application to carry out conservation initiatives. SWCDs received up to $5,000 for projects and initiatives in the following grant categories: Adult Outreach – Education, Cost Share Demonstrations and Capacity Building. An additional $2,000 was available for partnering with other districts and professional training.
For more information on Clean Water Indiana Grants and a complete list of grantees, visit www.in.gov/isda/2356.htm
VEAP provides grants to Ohio grape growers
REYNOLDSBURG, Ohio — Thirty Ohio grape growers will soon receive $2,000 grants provided by the Vineyard Expansion Assistance Program (VAEP). Ohio vineyards will receive these grants funded by the Ohio Department of Agriculture through the USDA Specialty Block Grant program and the Rural Rehabilitation Fund.
VEAP grants are offered in the form of reimbursement for grape vines only, encouraging grape growers to establish new wine grape vineyards and expand existing vineyards. The program will allow for a more stable source of grapes for recipients by allowing each grower to plant an additional acre of high-quality, high-value grapes.
It will enable more Ohio wines to qualify for the Ohio Quality Wine program that identifies the best Ohio wines, which are made using 90 percent or more Ohio-grown grapes.
Beck’s to host 52 winter grower meetings
ATLANTA, Ind. — Beck’s Hybrids will host 52 grower meetings across Indiana, Illinois, Ohio, Kentucky and Michigan throughout January and February. The meetings will summarize key topics and findings from Beck’s 2010 Practical Farm Research, as well as discuss long-term management procedures.
PFR is focused with the farmer in mind and provides a comprehensive look at how different practices and new technologies perform in field environments. In 2010, Beck’s conducted more than 65 different studies across multiple locations.
For a complete list of meeting dates, times and to register, visit www.becks hybrids.com or call 800-937-2325. To ensure your reservation, RSVP no later than three business days prior to the meeting of your choice.
Syngenta Agrisure Viptera trait wins Agrow honors
RESEARCH TRIANGLE PARK, N.C. — Syngenta has received a prestigious Agrow Award in recognition of the company’s new Agrisure Viptera corn trait, in the Best Novel Agricultural Biotechnology category.
The trait is available in hybrids from Garst, Golden Harvest and NK Seeds and will also be made available through licensing agreements. The award was accepted for Syngenta by Greg Warren, J.D., and David O’Reilly, Ph.D.
CoBank: Net 3Q income increases 13 percent
DENVER, Colo. — CoBank, a leading cooperative bank serving agribusinesses and rural infrastructure providers throughout the United States, recently announced financial results for the third quarter of 2010.
Quarterly net income rose 13 percent to $132 million, compared with $116.8 million in the third quarter of 2009. Net interest income for the quarter was $226.3 million, compared with $223.1 million a year previous. Average loan volume for the third quarter was $44.5 billion, compared to $43.4 billion for the same period in 2009.
Higher average loan volumes reflected the impact of recent sharp increases in prices for certain agricultural commodities, which drove greater seasonal borrowing requirements for grain cooperatives and other agribusiness customers. In addition, the bank experienced growth in its Rural Infrastructure operating segment, primarily due to increased borrowing by rural electric cooperatives, partially offset by declines in lending to service providers in the communications industry.
Meanwhile, wholesale lending to other banks and associations in the Farm Credit System declined slightly, indicating a low rate of growth in demand for credit at the producer level of the U.S. farm economy.
Farm Credit reports $161M in net 3Q 2010 earnings
LOUISVILLE, Ky. — Farm Credit Services of Mid-America (FCS) announced the association generated $161 million in net earnings during the first nine months of 2010 primarily due to an extraordinary loan insurance refund and exceptional loan conversion/refinance results.
Loan volume has also grown by more than 5 percent compared to September 2009. Earnings were up $62 million over the same period in 2009 primarily due to higher net interest income. FCS stated its cost of funds to customers continues to be the lowest in the Farm Credit System.
To see the complete results, go to www.e-farmcredit.com and select “News,” then “Quarterly Report.” |
| 1/14/2011 |
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