DENVER, CO – Yesterday, the governor signed two Colorado Comeback payments into legislation that purpose to assist our state’s agriculture business. The primary invoice will present funding for the Nationwide Western Inventory Present, the Colorado State Truthful, and different native/county agricultural occasions all through the state. The second invoice contains funding to implement the Colorado Agricultural Future Mortgage Program to assist first-time farmers, ranchers and companies.
HB21-1262, a bipartisan invoice sponsored by Senate President Leroy Garcia, that invests $25 million into the Nationwide Western Complicated to make sure the Inventory Present stays in Colorado – a staple to the state’s agricultural economic system and Denver’s economic system – and offers $3.5 million to the Nationwide Western, $5 million for the State Truthful, and $2 million to agricultural occasions and organizations throughout the state.
“Pueblo has hosted the Colorado State Truthful since its inception almost 150 years in the past. It isn’t only a statewide custom, it is a chance for financial improvement in Pueblo and Southern Colorado,” stated Senate President Leroy Garcia (D-Pueblo). “An financial restoration could be incomplete with out making robust investments within the monetary well being of Southern Colorado and the agriculture business, which is why I’m proud to see that my invoice to speculate $5 million to assist the State Truthful is formally the legislation of the land!”
SB21-248, a bipartisan invoice sponsored by Senate President Professional Temp Kerry Donovan, allocates $30 million to create and implement the Colorado Agricultural Future Mortgage Program. This program will present low-interest loans to starting farmers and ranchers in addition to farm-to-market infrastructure loans for companies – placing Colorado on a pathway towards a sustainable and affluent future for the agriculture business.
“Essentially the most urgent challenges that lie forward for Colorado – water and drought, wildfires, and labor shortages – all have a serious impression on the agriculture business,” stated Senator Kerry Donovan (D-Vail). “By transferring this $30 million into the Colorado Agricultural Future Mortgage Program we make investments not solely within the current restoration of the business, however within the long-term success of agriculture in our state. This system will empower and assist a brand new technology of farmers and ranchers in Colorado who will shepherd the business ahead.”
Though Colorado’s vibrant agricultural sector has served because the spine of the state’s economic system for many years, the business should navigate a tumultuous future through which an estimated 64% of Colorado producers will exit farming, and over 20 million acres of Colorado’s agricultural land will want a brand new farmer. This invoice will negotiate these challenges, spend money on the way forward for Colorado agriculture, and supply incentives to construct capability for starting farmers and ranchers.