Young Victorian farmers now have a helping hand to develop their agricultural business under the Brumby Labor Government’s $10,000 First Farm Grant program.
The program, which begins today, will assist young farmers in improving the productivity and sustainability of their emerging farm business.
Agriculture Minister Joe Helper said the grants provided up to $3000 for business planning with additional funds for on-farm development projects, up to a combined total of $10,000.
“The Brumby Labor Government is supporting the next generation of Victorian farmers to keep our agricultural sector productive, competitive and sustainable,” Mr Helper said.
“Possible uses for the grants include stock containment areas, improved water infrastructure, feed systems, revegetation, financial training, value adding and improving current systems.”
“These grants are further proof of the Brumby Labor Government’s commitment to driving a prosperous future for Victorian agriculture which produces goods worth around $9 billion every year, more than one-quarter of the national total,” he said.
“It is therefore vital that we support the next generation of farmers and that is what these grants will do.”
First Farm Grant Project manager Clare Balmer said young farmers who already had a business plan that met required standards may be eligible for grants of up to $10,000 for on-farm development that is included in the business plan.
“Farmers must be 40 or under and be either purchasing, leasing, share farming or inheriting a property between July, 1, 2009 and June 30, 2012. They must work in the farm business at least two days a week and it must turnover at least $40,000 annually,” Ms Balmer said.
The grants will be administered by Rural Finance (RF) and first farm buyers who have accessed a first home buyer grant or a subsidised loan through RF will still remain eligible for the new grants.
The Government will provide $2 million over two years for the First Farm Grants as part of its $631 million blueprint to drive economic growth in regional and rural Victoria by attracting jobs, new investment and opportunities for young people to keep them living and working locally.
Ready for Tomorrow: A Blueprint for Regional and Rural Victoria delivers a new vision, backed by record funding to secure the future prosperity of regional and rural Victoria.
For First Farm Grant details and applications forms go to www.ruralfinance.com.au