Nova Scotia to help new, growing farmers buy more land

Farmers will get some help from the Nova Scotia government to expand their operaitons. (Nova Scotia Federation of Agriculture via Facebook)

The Nova Scotia government is devoting $5 million over the next three years to help new and existing farmers buy farmland to encourage more agriculture.

“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,” Agriculture Minister Greg Morrow said Thursday in announcing the program at the Nova Scotia Federation of Agriculture’s Farmers’ Forum in Truro.

The Program for Accessing Agricultural Land will be administered by the Nova Scotia Farm Loan Board, which is a Crown lending agency under the Department of Agriculture.

The three-year pilot program includes four streams:

  • a low-cost land-leasing option for new farmers and for exisiting farmers to expand their farms
  • a second land-leasing option that allows farmers to build equity for a future purchase
  • deferred financing to help grow new farms
  • startup loans for land, equipment and livestock to help new farmers

As of March, the Farm Loand Board had $314 million in loans issued to 380 clients located mainly in rural Nova Scotia, according to the Department of Agriculture. That supported 3,180 full-time-equivalent employees, $191.6 million in gross domestic product and $35.8 million in provincial tax revenue

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.