$2.1 million grant will lead to 14 new jobs at Vertical FarmsPublished 12:07pm Friday, December 13, 2013
A $2.1 million loan will provide financing to Vertical Farms Produce LLC in Fergus Falls for equipment purchases and will create 14 new jobs, according to Congressman Collin Peterson.
USDA Rural Development approved a 70 percent Business and Industry Guaranteed Loan for the project.
With the loan, Vertical Farms will be able to operate a year-round indoor growing and packaging facility.
The initial product will be lettuce and operations will eventually expand to include herbs, spinach, strawberries and basil.
“This is great news for Fergus Falls and for the region,” Peterson said in a press release. “Value-added produce is making great strides in our rural communities along with the desire for local foods, and this will be a nice boost to the local economy.”
Vertical Farms LLC is a company that grows crops via aeroponics, or the cultivation of plants in a mist or air environment without soil.