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BCID Fund .... Back in Business!!
The Cattle Industry Development Council has announced the re-opening of the Beef Cattle Industry Development Fund for new applications. The fund has been closed for the last several years due to financial conditions, however the BCID Trust is now recovering and Council will provide $200,000 per year for the next three years for general applications. Applicants with matching funds for projects are encouraged to apply for projects that benefit the cattle industry in BC, and to consider the funding priorities established by the CIDC in consultation with representatives of the organizations. The Beef Cattle Industry Development Fund is financed from the earnings of the $9.347 million Beef Cattle Industry Development Trust established in 1994, and recently extended for the next sixty years, to 2075.
Cattle producers in British Columbia have supported the levy (check-off) on cattle for many years. $2 per head becomes the CIDC fund which is used to promote the cattle industry in BC and to support research or education programs. Triggering a match from the Beef Cattle Industry Development Trust earnings double these producer dollars. During the first 16 years of the Trust, over $10 million has been triggered from the Trust to contribute to projects with a total value of over $20 million.
The BCID Fund is managed by British Columbia cattle producers serving on the Cattle Industry Development Council.
The Beef Cattle Industry Development Fund (BCID Fund) is financed out of the revenues generated by a Trust Fund established by the Province in 1994, consisting of a sum of $9.3 million. The terms of the Trust Fund specify that there will be no encroachment on the capital, and that this Trust Fund will be available to finance the BCID Funds for a period of 20 years. After 20 years (March 31, 2014) the Trustee must transfer any assets remaining in the Trust fund to the Province. It should be noted that only when non-government funds are contributed toward projects that fit the priorities of the BCID Fund, will matching funds be triggered from the Trust for that purpose.
"To manage the Beef Cattle Industry Development Fund in a way that will effectively enhance the profitability, viability, sustainability of the beef cattle industry in British Columbia for the short, medium and long term."
The purpose of the Beef Cattle Industry Development (BCID) Fund is to create a maintain an environment that will provide for ling-term productivity, efficiency, viability, sustainability and profitability in the beef cattle industry in British Columbia through an efficient marketplace that allows for optimum utilization of the land and water resources of the province in an environmentally sustainable manner and makes provisions for the transfer and use of available technology.
During the next three to five years, the Cattle Industry Development Council will administer the Beef Cattle Industry Development, to benefit the BC beef industry by focusing on the following priorities:
1. Provincial cattle associations are eligible to apply for funding for annual project plans. CIDC will also support fostering industry communications and collaboration.
2. Consider funding opportunities that may arise to increase funds available such as outside opportunities that may arise to support regions in mitigating financial impacts from non-agriculture mega-projects. Council will encourage associations to pursue additional funding opportunities that may also increase the opportunity for matching funding.
3. CIDC will continue to host yearly meetings with Association Presidents to ensure priority industry issues are addressed.
CIDC will consider proposals that:
1. Advance further processing opportunities in British Columbia which could include projects to:
a) Address slaughterhouse waste and specified risk materials disposal issues
b) Determine feasibility of facilities
2. Seek to enhance forage utilization on grazing tenures and private lands and its role in the BC beef advantage.
3. Develop and encourage BC “branding.”
1. Environment – water, waste (manure/nutrient) management, enhanced forage utilization.
2. Animal Care
a) Projects from agriculture organizations that seek to address animal care concerns.
b) Encourage cattle producer involvement in farm animal care issues.
a) Rancher and worker safety.
b) Assisting industry to meet regulatory requirements.
Council will consider research proposals to address the above priorities.
Developed by Priority Planning Session January 2014
Approved by Cattle Industry Development Council April 26, 2014