(a) There is a Maryland Agricultural and Resource-Based Industry
Development Corporation.
(b) The Corporation is:
(1) A public corporation; and
(2) An instrumentality of the State.
(c) The purpose of the Corporation is to:
(1) Assist the viability of the State's diverse agricultural industry
through new markets development, capital and credit enhancements, and
technical and other assistance to support, create, and sustain
agricultural businesses throughout the State;
(2) Provide financing and other assistance for product development,
start-up and scale-up of Maryland food- and fiber-related growing
and processing operations, and for technological enhancements that
benefit the environment and water quality;
(3) Seek partnerships and leveraging opportunities with public and private
for-profit and not-for-profit entities in making capital and credit
assistance available to individual producers, producer cooperatives,
and other agribusiness concerns operating in the State;
(4) Facilitate and support access to high quality technical resources for
agricultural entrepreneurs by incorporating existing support
infrastructure including the development of strategic partnering
opportunities and business incubation;
(5) Foster cross-industry communication and assist other organizations in
transferring to the private sector and commercializing the results and
products of scientific agricultural research and development conducted
by the federal government and colleges and universities; and
(6) Work with public and private lending and grant-making institutions to:
(i) Make low- and no-interest loans and loan guarantees available for
agricultural product development, primary processing, and secondary
manufacturing;
(ii) Provide credit and capital to first-time farmers for land, equipment,
and working capital acquisition;
(iii) Make incentives available for activities related to small farm or small
landowner viability and best management practices; and
(iv) Make temporary land and easement purchases in accordance with State or
local critical farm acquisition programs.
|
