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Agriculture Individual Development Accounts

 

In 2005, the CS Mott Group for Sustainable Food Systems at MSU launched a beginning farmer program in partnership with Van Buren County Extension. Van Buren County Extension created a one-year entrepreneurial program geared for new, capital-strapped, emerging growers.  To reach the growing number of younger and multi-cultural persons interested in smaller scale farming, Agriculture Individual Development Accounts (AgIDA) were incorporated into the program that also offered farm production skills development, business planning, and farmer peer network.

 

What are AgIDAs?  AgIDAs are a matched savings program for lower to moderate income farmers with a built-in incentive: a match of at least an equal value to an individual grower’s savings goal.  All funds, match and savings, must go directly toward the equity base of the farm. The CS Mott Group designed its AgIDA using a match rate of 1:2.  For every dollar saved by the IDA holder, $2 in match would be awarded when farmers reach their savings goal.

 

Initiating a farm enterprise is often an extremely difficult undertaking, particularly for first generation farmers. Beginning farmers who wish to follow an unconventional path and operate fairly small, diversified farms that market directly to the surrounding community are getting asset building support with AgIDAs.  Read about our program and farmers who are on their way to establishing viable, sustainable farms in Michigan.

 

AgIDA Program Materials

Beginning farmer Case Studies

Beginning farmer program participant evaluation

Pictures

 


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