October 18, 2006

Premium Iowa Pork receives US$300,000 for expansion

Premium Iowa Pork, a Hospers, Iowa company has received a US$300,000 grant Monday (Oct 16) from USDA to expand its niche pork business.

The grant would allow the two-year-old company to expand its plant capacity from 700 to 1,800 head per day.

In presenting the award, US Rep. Steve King, R-Iowa said the grant plays a key role in helping producers compete in the marketplace.

Premium Iowa Pork markets niche products to wholesale and retail markets. The company's newly renovated cut floor would process high-quality products according to customers' specifications.

Premium Iowa Pork is one of 31 Iowa companies that received more than US$4.2 million in Value Added Producer grants from Rural Development this year.

Since the inception of the programme in 2001, a total of 102 Iowa businesses have received funds totaling US$19 million.

The funds are used for planning activities or to provide for marketing value-added agriculture products and for farm-based renewable energy projects.

More than US$136 million have been committed to value-added agriculture investments since 2001 in the US.