By Blake Jackson
Pennsylvania's future farmers and seasoned veterans are joining forces! Thanks to a $50,000 grant from the USDA's National Institute of Food and Agriculture, Penn State Extension is launching a pioneering program called "Setting the Stage for Succession."
This initiative focuses on a critical challenge: ensuring farmland stays in agricultural hands as older generations retire. The program will pilot an overnight retreat workshop in early March, held in scenic Lancaster County.
Prospective farmers eager to launch their dream careers will connect with retiring farmers seeking to pass on their legacy. Through interactive sessions, participants will delve into crucial topics like:
- Finding farmland: Navigate the search for the perfect agricultural land to launch your agricultural dreams.
- Land purchase and ownership: Understand the legal and tax intricacies of farmland purchase and ownership structures.
- Asset transfer channels: Explore various options for seamlessly transferring valuable farm assets to the next generation.
- Retirement planning for new farmers: Learn strategic planning techniques to secure your financial future while embarking on your farming journey.
Experienced Penn State personnel will be specially trained to guide and facilitate the workshop, ensuring a productive and insightful experience for all. The goal is not only to connect individuals but also to develop a replicable model for future workshops, spreading the knowledge and fostering farm succession across Pennsylvania.
This is a unique opportunity for aspiring farmers to gain invaluable insights from seasoned mentors, while retiring farmers can secure a smooth transition for their land and passion. Mark your calendars for early March and stay tuned for further details.
Photo Credit: usda
Categories: Pennsylvania, Business, Education