Future Farmer Program
Name: Barry Thompson
The purpose of this program is to encourage new Prince Edward Island farmers to develop successful commercial farm operations.
There are seven components to the Future Farmer Program:
- Facilitation and Coaching Assistance by a Program Advisor
- Skills Assessment
- Business Planning
- Skills Development and Training
- Understanding Analytical Laboratory Results
- Business Risk Management*
- Interest Rebate Assistance*
- An applicant’s term in the Future Farmer Program is five years.
- Individuals who entered the program prior to April 1, 2013 and have not completed their five year term will follow the terms of the 2013 - 2018 program.
An eligible program applicant:
- Must be at least 18 years of age
- Must be a Canadian citizen or permanent resident
- Must be a resident of Prince Edward Island
- May be an individual or a member of a Corporation, Partnership or Co-operative
- Must not have reported farming income on an income tax return with more than a total of $40,000 cumulative in the fifth and prior years to the applicant’s acceptance into the Program (e.g., applicants entering the program in 2013 must not have more than a total of $40,000 cumulative in gross farm income on the 2008 and earlier income tax forms).
- In the case of corporations or partnerships, the farm’s gross sales will be attributed to the applicant based on the percent of common shares or partnership interest owned by the applicant. Level of ownership will be used to determine that there was no more than a total of $40,000 cumulative in the fifth and prior to the applicant’s acceptance into the program.
- Must agree to complete a three year business plan. The plan must indicate a projection of at least $15,000 in annual gross farm sales by the end of the third year. An agriculture sector requiring a period of development prior to sales generation will be given special consideration (e.g. blueberry land development).
- Must be working toward gaining ownership in a commercial farm within three years of entrance into the program. For farms with gross sales of $1M or less, the applicant must own at least 15% of the common voting shares or must be the beneficial owner of a 15% interest in the partnership by the third year of participation in the program. For farms with gross sales over $1M, the applicant must own at least 10% of the common voting shares or must be the beneficial owner of a 10% interest in the partnership by the third year of participation in the program. The applicant will not be eligible for an interest rebate or Business Risk Management reimbursement until ownership is confirmed.
- Must be the only participant from the farming operation to enroll in the Future Farmer Program.
Applicants Reapplying to the Program
Individuals who previously were approved for the Future Farmer Program but did not proceed with the development of a commercial farming operation, may reapply to the program providing that they meet the program guidelines and have not accessed more than $3,000 under the program.
A new application form must be submitted to the program.
APPLICATION AND APPROVAL PROCESS
Individuals making application to the program must:
- complete an application form for the Future Farmer Program and forward to the PEI Department of Agriculture and Fisheries;
- meet with a Future Farmer Advisor to review the completed program application form, the program details, and to discuss the completion of separate application forms for the program components; and
- understand that program funds are limited; therefore, if the number of applications exceeds budget allocations, new applications may not receive program funding. Payment claims will be processed on a first come, first served basis.
Recipients of funding under this program are consenting to the public release of their name, the amount of funding received, and the general nature of the project.
This program is effective April 1, 2013 and will terminate on March 31, 2018.
This program may be altered or discontinued without notice by the Minister of Agriculture and Fisheries.
This program is administered by the Prince Edward Island Department of Agriculture and Fisheries.
Future Farmer Program Manager
Prince Edward Island Department of Agriculture and Fisheries
PO Box 2000, Charlottetown
PE C1A 7N8
Phone: (902) 368-6366
Fax: (902) 368-4857
Future Farmer Program Application Form
FFP-Analytical Laboratory Reimbursement Form
FFP-Business Risk Management Reimbursement Form
FFP-Business Planning Application and Claim Form
FFP-Interest Rebate Application