CIFT News


FOR IMMEDIATE RELEASE
Thur., Jan. 28, 2010

Contact: Jim Konecny
Office: 419.535.6000, ext 108
Cell: 419.704.968


CIFT to Host Monthly Ag-Business Breakfast Forum


TOLEDO, OH – The Center for Innovative Food Technology (CIFT) will host their monthly Northwest Ohio Ag-Business Breakfast Forum on Thurs., Feb. 18 from 7:30 – 9:00a.m. at the Agricultural Incubator Foundation, north of Bowling Green, OH.  Jessica Ford, regional community affairs director, Office of Ohio Treasurer of State, will present information on the Ag-Link and GrowNOW programs.

Ag-Link is an annual program that provides an interest rate reduction on operating loans and lines of credit to Ohio's farming community ($125 million is allocated annually).  The Ohio Treasury places deposits with Ohio banks at below market rates when the bank agrees to reduce the interest rate on the farmer's loan.  If an eligible farmer’s application is accepted, the Treasurer purchases a certificate of deposit at a reduced rate from a lender for one year – in turn, that lender lowers the interest rate of the loan given to the farmer.

Through GrowNOW, the Treasury has more than $350 million invested in low-cost financing for small businesses that creates and retains jobs in the state. When a business finances a loan with an eligible bank, GrowNOW can provide a three percent interest rate reduction on their loan. To fund the program, the Treasury places a deposit with the business' bank at a three percent interest rate reduction on their loan.

The Northwest Ohio Ag-Business Breakfast Forum is an educational networking opportunity to provide information on current issues, trends and programs available to the agricultural community and those who support its advancement. Farmers, agribusiness owners and supporters of Ohio’s agricultural economy are encouraged to join CIFT on the third Thursday every month for this forum.

The cost is just $10 per person (cash or check at the door) which includes a delicious breakfast and great informal networking opportunities.  The Agricultural Incubator Foundation is located at 13737 Middleton Pike (St. Rt. 582) in Bowling Green.  Directions: I-75 to St. Rt. 582 (Middleton Pike), exit 187 (Luckey/Haskins).  Travel west on St. Rt. 582 approximately 2.2 miles.  The Agricultural Incubator Foundation is located on the south side of St. Rt. 582.

Guests can reserve a seat in advance by calling Paula Ray at 419-823-3099 pray@eisc.org






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