Multi-million dollar investment made into Oklahoma meat processors

FILE - In this photo made on Thursday, June 16, 2022, rows of fresh meat is seen through the... — FILE - In this photo made on Thursday, June 16, 2022, rows of fresh meat is seen through the display coolers as a woman enters the retail section at the Wight's Meat Packing facility in Fombell, Pa. The Agriculture Department announced more than $223 million in grants and loans Wednesday, Nov. 2, to help small and mid-sized meat processing plants expand to help boost competition in the highly concentrated industry. (AP Photo/Keith Srakocic)(Keith Srakocic | AP)

By Cade Taylor and Jarred Burk

Published: Mar. 6, 2023 at 3:48 PM CST

LAWTON, Okla. (KSWO) - The U.S. Department of Agriculture has announced a multi-million dollar investment into Oklahoma meat processors.

The USDA is investing $14 million to fund both existing and new independent meat processors across the state.

The money will go towards a revolving loan fund which will offer low-interest rates to beef and poultry plants.

It’s a part of an effort to expand processing capacity and bring down prices at the grocery store, helping producers and consumers alike.

Copyright 2023 KSWO. All rights reserved.