Booming Industry Warrants Federal Support. Apparently.

As if U.S. agriculture isn’t subsidised enough already. Sen. Charles Schumer (D-NY) visited a hops yard yesterday to raise the profile of, and inevitably seek federal support for, what he hopes will be New York’s first commercial hops yard. In the second subtitle of his press release, Senator Schumer sings the praises of NY’s “booming craft beer industry” and yet simultaneously makes the somewhat contradictory claim that the industry suffers from a lack of capital:

NYs Booming Craft Beer Industry Has Created Demand for Locally Grown, Organic Hops, But NY Is One of Few States Without a Major ‘Hop Yard’ & Capital Is Major Obstacle – Startup Costs Run as Much as $100K For Equipment Alone

The solution seems pretty obvious to me. That “booming” industry would provide steady demand for hops, making it sound like a worthwhile investment for private financiers. Perhaps Senator Schumer can pony up the $100K, since he’s so bullish about the industry. Not so fast. The next sentence?:

Schumer: Federal Loans & Loan Guarantees Would Provide Important Growth Spurt for Budding Hudson Valley Hops Industry