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Earp Meat Company of Edwardsville, Kan., will receive $5 million in allocated funding from the Kansas Department of Commerce.

The funds were received from the American Recovery and Reinvestment Act. Areas were targeted based on recovery needs and the economic situation.

Earp is one of four businesses to receive funding.

Over $99 million worth of requests were made to the state; only $30.6 million were rewarded in the competitive process.

UPDATE: More on the funds, from a press release:

Recovery Zone Facility Bonds and Recovery Zone Economic Development Bonds are two new types of bonds created by the American Recovery and Reinvestment Act to help economically distressed areas. Recovery Zone Facility Bonds are much like Private Activity Bonds and can be used for privately owned or used projects. These bonds are federally tax exempt, which can provide the issuer with a lower cost of capital. Recovery Zone Economic Development Bonds, which are used for public infrastructure, are fully taxable to the bond holders, but the U.S. Treasury will pay to the issuer (cities, counties) an amount equal to 45 percent of each interest payment.
 
The Kansas Department of Commerce reviewed applications for these two categories of bonds through a competitive process. The Recovery Zone Facility Bond process was exceptionally competitive, with the Department of Commerce receiving $99 million in requests for $30.617 million in available authority.
 
Organizations that have been issued bond authority through the first round of this reallocation process must confirm their intent to issue bonds with the Department of Commerce’s Bond Allocation Administrator by February 17, 2010. Allocations that are not confirmed by this date will be surrendered and redistributed among other applicants. The bond authority allocated to a project may be combined with other funding sources. This bond allocation expires if the bonds are not issued by May 31, 2010.