LEXINGTON, Ky. (FOX 56) — Bluegrass AgTech Development Corp. announced a new incentive program to bring more AgTech and food-based businesses to Kentucky.

Bluegrass AgTech will connect agricultural innovators with public and private funding sources through a new challenge grant program. A major goal is to attract new agri-food and agri-business companies to Kentucky.

Each applicant can apply for up to $100,000 of grant funding in the first year of the program. The program is open to registered, for-profit businesses who are either in Lexington, or willing to establish a location here.

“Alltech is proud to support Bluegrass AgTech’s mission to transform Kentucky into the agricultural technology capital of the United States,” said Dr. Mark Lyons, President and CEO of Alltech, an international company focused on improving the health and performance of people, animals and plants through nutrition and scientific innovation.

“Kentucky’s world dominance in the horse industry, bourbon production, genetic progress in poultry, and sustainability advancements in no-till farming shows how impactful our agriculture community can be,” Commissioner of Agriculture Dr. Ryan Quarles said. “We believe that Kentucky can step up to the challenges facing our agriculture communities and become the agriculture hub of technology and innovation in the United States. This is the next process to making that a reality. Our agriculture community and our state as a whole deserve that chance to make these great moves forward.”

Applications can be found here. They must be completed by March 1, 2024.