Representative JIm Neely's Capitol Report
Greetings, friends of the 8th Legislative District!
I had the privilege of attending the Missouri State Fair this year and quite enjoyed all it had to offer. I hope you had the same chance!
Encouraging Agriculture Investment with the Missouri FIRST Initiative
As the Missouri State Fair promotes excellence in Missouri agriculture and raises awareness of the importance of the agriculture industry, the state continues to work to increase agriculture investments. The Missouri State Treasurer was on hand at the fair to talk about the Missouri FIRST initiative and the role it has played in increasing investment in agriculture through the state’s linked deposit program.
The Missouri FIRST (Financing Investment in our Rural, Small Business and Technology communities) initiative revamped the state’s linked deposit program, which partners with local lenders to provide low-interest financing to small businesses and agricultural operations. The program helps farmers by making production, land acquisition, livestock costs and other ventures more affordable. Missouri FIRST was launched in March, and has seen the total volume of active agriculture linked deposits rise from $29.3 million to $69.3 million since its inception.
“The Missouri FIRST initiative has enabled us to better prioritize rural economic development and the agriculture industry. Economic growth, less red tape and increased accessibility have led to a stronger linked deposit program with greater investment in Main Street and rural Missouri,” said State Treasurer Eric Schmitt.
The Missouri State Treasurer’s Office works with local lending institutions to facilitate Missouri FIRST loans. There are approximately 115 qualified Missouri FIRST linked deposit lenders with 350 branches throughout the state. A list of lenders and program eligibility guidelines can be found online at MOFIRST.mo.gov.
Yours in service,
Representative Jim Neely
Proudly Serving the 8th House District
Clinton, Caldwell, Ray, & Clay Counties
Missouri House of Representatives
573-751-0246
