US Representative Antonio Delgado (D-19), along with US senators Chuck Schumer and Kirsten Gillibrand on Monday announced $124,075 in federal funding for the Hudson Valley Agribusiness Development Corporation (HVADC), a non-profit that supports “agricultural entrepreneurship, rural economic growth, and community enhancement” in the Hudson Valley.
“During these challenging times, it has never been more important to invest in the development of our communities and support the organizations working to provide for the most vulnerable in our area. I am proud to join in announcing these funds for the Hudson Valley Agribusiness Development Corporation, which will allow them to better support agriculture producers in the Hudson Valley,” said Rep. Delgado. “We have much more work to do to make sure our small businesses and family farms have the resources they need to recover from this pandemic. I will keep advocating at the federal level to get additional coronavirus relief to our upstate communities as soon as possible.”
HVADC is certified as a Community Development Financial Institution (CDFI), a federal designation given to organizations that provide “financial services in low-income communities and to people who lack access to financing.” The funding comes from the US Department of the Treasury’s CDFI fund.
According to the announcement, the funding will be used to help expand and sustain HVADC’s operation.
Todd Erling, HVADC’s executive director, said, “Receiving this grant funding is going to allow HVADC to progress to the next step of being able to ensure our traditionally underserved small farm and food businesses have access to adequate funding and technical assistance. So many of the food entrepreneurs in our region, particularly those in underserved communities, are at a critical point, both trying to recover from the economic crisis caused by the pandemic, as well as move forward. This funding will allow HVADC to most effectively serve those populations.”
HVADC has worked on several food and agricultural projects in the region, including supporting food distribution hubs in Sullivan and Ulster counties. HVADC is also a member of American Farmland Trust’s Farm To Institution New York State (FINYS) program, which works to increase the volume of locally produced food served in institutions such as schools, hospitals and senior centers.
The award HVADC received can be used for “capacity development that is integral to their organizational sustainability and success,” the announcement noted. Funds can be used to purchase equipment, hire consulting or contracting services, pay salaries and benefits, or train staff or board members.
“The economic crisis caused by this pandemic has devastated underserved communities and small businesses that were already struggling to survive,” said Senator Gillibrand. “This CDFI funding is great news for the Hudson Valley and agricultural business development. These federal dollars will help spur economic development for our regional economies at a time when we need it most. I will keep fighting in the Senate for the resources needed to stimulate the economy and ensure New York communities are stronger than ever before.”