2024 Fast 50 Awards
The Resilient Food Systems Infrastructure (RFSI) Program Cooperative Agreements, a joint effort between the U.S. Department of Agriculture (USDA), Agriculture Marketing Services (AMS), and the Michigan Department of Agriculture and Rural Development (MDARD), aims to bolster the middle-of-the-food-supply-chain and fortify local and regional food systems. The core mission of this program aligns with creating new revenue streams for Michigan producers and enhancing the overall resilience of the food supply chain. MDARD will facilitate this by issuing subawards, primarily in the form of Infrastructure Grants, to businesses operating within the middle of the supply chain. This strategic approach is designed to foster more diverse local and regional market options and generate greater economic opportunities for communities, ultimately allowing them to retain a larger share of the value chain dollar. The RFSI program is specifically targeting agricultural producers or processors, groups of agricultural producers and processors, nonprofit organizations, local government entities, tribal governments, and institutions such as schools, universities, or hospitals involved in middle-of-the-supply-chain activities. The overarching impact goals include establishing a robust food systems infrastructure that supports competitive and profitable market access for domestic farm products. Additionally, the program seeks to support the development of value-added products for consumers, promote fair prices and wages, create safe job opportunities that retain profits in rural communities, and increase diversity in processing options across business models, geography, and accessibility for underserved communities. USDA has established clear priorities for RFSI program funding, focusing on Infrastructure Grant activities. These priorities include expanding capacity for processing, aggregation, and distribution of agricultural products to create more and better markets for producers. Modernizing manufacturing, tracking, storage, and information technology systems is another key focus, alongside enhancing worker safety through new technologies or investments in equipment and facility improvements. Improving the capacity of entities to comply with federal, state, and local food safety requirements, and improving operations through training opportunities are also critical. The program further prioritizes supporting the construction of new facilities, modernizing or expanding existing facilities, constructing wastewater management structures, modernizing processing and manufacturing equipment, and developing or installing equipment that reduces greenhouse gas emissions, increases water use efficiency, improves air/water quality, or meets USDAβs climate action goals. Expected outcomes and measurable results from this program include a strengthened and more resilient middle-of-the-food-supply-chain in Michigan, evidenced by increased processing, aggregation, and distribution capacities. The program anticipates creating more diverse local and regional market options, leading to increased economic opportunities and a greater retention of value chain dollars within Michigan communities. Successful proposals will demonstrate an ability to develop value-added products, ensure fair labor practices, and contribute to the diversification of processing options. With Michigan awarded over $10 million, the program offers two types of grants: Equipment Only Grants ranging from $10,000 to $100,000 for smaller projects and Infrastructure Grants with a maximum award of $475,000 for more substantial investments. The program's strategic priorities and theory of change are rooted in the belief that targeted investments in food systems infrastructure will directly lead to enhanced market access for producers, improved economic vitality for communities, and a more sustainable and equitable food supply chain for Michigan.
Award Range
Not specified - Not specified
Total Program Funding
Not specified
Number of Awards
Not specified
Matching Requirement
No
Eligible Applicants
Additional Requirements
1) The company must be privately held, independently owned without a parent company, and must be for profit. 2) It must be headquartered in the 7-county metro Denver region (Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas, or Jefferson counties). 3) Have a 3-year financial history (through full fiscal years 2021, 2022 and 2023 with revenue gains from 2022 to 2023. 4) Have an average of at least $1 million in revenue during the 3 most recent years, and earned no less than $200,000 in revenue in 2021. 5) Nominations that leave any of the revenue fields blank will not be considered. 6) Companies must be willing to have a review meeting or call with our accounting verification partner BEFORE JULY 22, 2024. All information is held in strict confidence. 7) Approve the publishing of financial information by Denver Business Journal. 8) A C-level executive from your company is expected to attend the event on October 24, 2024. To be considered for this award, please complete the questions below thoroughly. Nominations that leave any of the revenue fields blank will not be considered for the award. Finalists will be ranked on revenue growth based on the verified information submitted. Award categories will be annouced October 25, 2024 edition online and in print. Rankings will be announced at our Fast 50 Awards event in October.
Geographic Eligibility
Adams County (CO), Arapahoe County (CO), Boulder County (CO), Broomfield County (CO), Denver County (CO), Douglas County (CO), Jefferson County (CO)
Application Opens
June 3, 2024
Application Closes
June 17, 2024
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