Future Farmer Program

• Mi’kmaq First Nations and other Indigenous Organizations who are new agricultural producers with a business or succession plan; and
• New agricultural producers with a business or succession plan.

Eligible Applicants must:

• Provide a business or succession plan at the time of application with a letter of intent from the client’s bank and/or lending institution;
• Indicate in their business or succession plan a projection of at least $20,000 in annual gross farm sales;
• Indicate in their succession plan that the applicant owns at least 15% of the common voting shares or must be the beneficial owner of a 15% interest in the partnership (for farms with gross sales of $1M or less) or owns at least 10% of the common voting shares or must be the beneficial owner of a 10% interest in the partnership (for farms with gross sales of more than $1M);
• Be a Canadian citizen or a Permanent Resident;
• Be a resident of Prince Edward Island who is therefore eligible to own land in the province; and
• Not have reported farming income on an income tax return with more than $40,000 (cumulative) in the fifth and previous years to the applicant’s acceptance into the Program (i.e., applicants entering the Program in 2018 must not have more than a total of $40,000 cumulative) in gross farm income on their 2013 and earlier income tax forms)1.

Note1: In the case of corporations or partnerships, the farm’s gross sales will be attributed to the applicant based on the per cent of common shares or partnership interest owned by the applicant. Therefore, the level of ownership will be used to determine that there was not more than a total of $40,000 (cumulative) in the fifth and prior years to the applicant’s acceptance to the program.

Note:  Applicants who do not have a business or succession plan may be eligible for coaching and training support through the Future Farmer Program.