Agriculture and Forestry Minister Mitch Murphy today announced in the Legislature the initiation of a Future Farmers program to support people become firmly established in the agriculture industry and to improve their chances of success. Details of the program are being developed in consultation with farm organizations. A series of meetings will be held across the province in the coming weeks with young farmers.
"This program reflects the commitment of the provincial government to the future of the agriculture industry in this province and our desire to support those who wish to build and develop their operations," said Mr. Murphy. "By making this commitment, we are making an investment in the future of this industry so that it can continue to increase its contribution to the provincial economy and to rural communities."
There are four components under the new program. Funding will be provided to support education and training, along with the establishment of an apprenticeship program. A skills and training credit can be used to access capital on more favourable terms. Under the credit relief component, consideration is being given to help reduce the costs of borrowing. The department will also partner with the federal government under the Agricultural Policy Framework to provide a comprehensive business planning service which will provide funding to new entrants to access professional services. Under the risk management component, consideration is being given to the use of funding to assist new farmers obtain income protection under the Net Income Stabilization Account program.
The minister said that, according to the last census, the average age of farmers in Prince Edward Island is more than 48 years and, if the industry is to continue to grow and progress, it needs to attract younger farmers with new ideas and fresh energy.
Mr. Murphy also pointed to research that shows a strong correlation between educational achievement and success in farming. "These education and training activities will give new farmers the skills and knowledge they require in areas such as business planning and management," he said.
The minister expressed his appreciation to those farmers and farm organizations who helped with their advice in devising the program.