Financing Michigan's Sustainable Agriculture
Agriculture is one of Michigan's most important industries, and it's growing. Despite the significant economic impact of agriculture for the Great Lakes State, Michigan not only faces the challenge of keeping farmers in farming but need to encourage a new generation of farmers as well. Seeking to determine the role that capital could play in assisting the growth of viable, smaller scale, diversified farm operations in Michigan, the CS Mott Group for Sustainable Food Systems (now CRFS) at Michigan State University surveyed financial institutions, loan funds, and public entities in Michigan in order to determine familiarity and engagement between financing institutions and beginning farmers. The survey results, available in the report below, show that although there is financial capital available in Michigan, farmers face challenges accessing it.
Financing Michigan's Sustainable Agriculture: The Availability and Accessibility of Capital for Beginning Farmers
Author(s): Susan Cocciarelli
Date: December 18, 2009