Agribusiness Resources

Agribusiness Resources - Agriculture Loans & Financing

Did you know? Berks County is one of the top 5 counties in PA for agriculture production value. Our area also boasts over $360 million in total income generated from agribusiness. It’s no wonder that so many agriculture and food processing businesses have chosen our community to operate, expand, and succeed.

Agribusiness Financing


These statistics are significant and Berks County is committed to making sure agribusiness continues to thrive in the community.

Since 2005, the Greater Berks Development Fund (GBDF) has played a role in financing almost 50 Berks County farms with assistance in capital expenditures ranging from property acquisition, building construction and equipment purchases.  This has totaled nearly $9 mm in loans made.

The GBDF is the lending agent in Berks County for the PA Department of Community and Economic Development (DCED) through its primary loan program, the Pennsylvania Industrial Development Authority (PIDA). The PIDA program can assist agriculture production businesses with low-interest loans of up to $400,000 or 50% of the eligible costs, whichever is less.  PIDA loans typically partner with a bank or other agricultural lending agencies to create a financing package to cover the needs of the total project.

Although crop, dairy, and poultry farms are the most common types of operations that have received PIDA assistance in Berks County, any type of production operation is eligible as long as the enterprise operates on not less than ten contiguous acres or operates on less than ten contiguous acres, but has an anticipated yearly gross income of at least $1,000.

Interested in learning more? Contact Chris Witmer at cwitmer@readingpa.com or 610-898-7794.

Top Greater Reading Agriculture and Food Production Companies

Company Product
Berks Packing Packaged Meats
Clover Farms Dairy Co. Inc. Variety Beverages
Giorgio Mushrooms Mushrooms and Packaged Foods
Godiva Chocolatier, Inc. Gourmet Chocolates
Joe Jurgielewicz & Son Ltd. All Natural Ducks
Quaker Maid Packaged Meats
RM Palmer Candy Inc. Novelty Candy
Sweet Street Desserts Inc. Frozen Gourmet Desserts
Sun Rich Fresh Foods Fresh Fruit Processing

Sources: 2012 Census of Agriculture (County Data), USDA, National Agricultural Statistics Service

To gain instant access to the latest agribusiness resources and solutions, contact GREP today!

Summary

Article Name
Agribusiness
Description
The Greater Reading, PA area provides a host of opportunities and resources for agribusiness and food processing companies.
Author