HALIFAX: Nova Scotia is launching anew program to help new farmers and growing agricultural producers access the farmland they need to start or grow their business.
The Program for Accessing Agricultural Land will be delivered by the Nova Scotia Farm Loan Board.
Agriculture Minister Greg Morrow made the announcement Thursday, December 4, at the Nova Scotia Federation of Agriculture’s Farmers’ Forum in Truro.
“Young farmers and growing family operations often struggle to find affordable farmland to expand their business. This program gives them a practical way to grow their farms and secure their future,” said Minister Morrow.
“Thank you to the Nova Scotia Farm Loan Board for listening to farmers’ needs in designing this program, and to the Nova Scotia Federation of Agriculture for their advocacy for new and growing farmers.”
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The three-year pilot program includes four streams to address diverse challenges:
– a low-cost land leasing option to support new farmers and farmers who want to expand their farms
– a second land leasing option that allows farmers to build equity for a future purchase
– deferred financing to support farm growth in the early years
– startup loans for land, equipment and livestock to help new farmers
More information on the program is available at: https://nsfarmloan.ca/program-for-accessing-agricultural-land/.
Guidelines and applications will be available on the site in mid-January.
Agriculture is a key driver of the province’s gross domestic product. Successful farms strengthen rural communities, preserve agricultural land and support local food production and consumption.
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Quotes:
“The Nova Scotia Farm Loan Board has over 100 years of history in supporting farmers to access land. We are excited to pilot these new options to ensure successful and thriving farms in our province.”
— Andy Vermeulen, Chair, Nova Scotia Farm Loan Board
“As a young, multi-generational farmer in rural Nova Scotia, I know the importance of maintaining and accessing farmland. More tools to support farmers to acquire land will help keep farm land in production.”
— Casey McLellan, dairy farmer, Hants County
“The NSFA has long advocated for an agricultural land bank that helps facilitate ownership transitions and supports new and growing farmers. This was a key recommendation during our second ministerial roundtable earlier this year.
“We are encouraged to see the Nova Scotia Farm Loan Board advance this recommendation by applying part of its existing portfolio to create a four-stream land program to support producers.”
— Alicia King, President, Nova Scotia Federation of Agriculture
Quick Facts:
– the program includes $5 million over the next three years from the farm loan board’s capital funds
– the board is a Crown lending agency under the Department of Agriculture
– as of March 31, ithad $314 million in loans issued to 380 clients located mainly in rural Nova Scotia
– in 2022-2023 (the last year for which data is available), the board’s loan portfolio supported 3,180 full-time equivalent employees, $191.6 million in gross domestic product and $35.8 million in provincial tax revenue
