AgriInvest
Canada
Matching funding to mitigate on-farm risks
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|closingDateSeptember 30, 2024
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Agriculture, forestry, fishing and hunting
grant_single|grantors
- Agriculture and Agri-Food Canada (AAFC)
- Government of Canada
- Sustainable Canadian Agricultural Partnership (SCAP)
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get a matching contribution of up to $10,000 per year to help manage income declines or to make investments to mitigate on-farm risks.
grant_single_labels|projects
This financial assistance is available to agricultural businesses in most provinces and territories in Canada. Specific exemption applies to Quebec, where the program is administered locally.
- Northwest Territories
- Yukon
- All provinces except Quebec
grant_single|admissibleProjectsExample
$9,000
Guelph
Development of a drought-resistant crop variety
$9,000
Regina
Diversifying crop production to manage income stability risks
$9,000
Kitchener
Implementing pest control measures to protect crops
$7,500
Saskatoon
Implementing advanced irrigation system to manage crop risks
$10,000
Halifax
Installation of a weather monitoring system to manage storm risks
$9,500
Burnaby
Upgrade greenhouse facilities to mitigate frost risks
grant_single_labels|admissibility
Eligibility for participating in the AgriInvest program requires the applicant to meet specific criteria regarding their agricultural activities and residency.
- The applicant must be actively farming in the provinces of Canada where the program is federally delivered, excluding Quebec.
- In Quebec, applicants must access the program through La Financière agricole.
grant_eligibility_criteria|who_can_apply
To be eligible for the AgriInvest program, applicants must be actively involved in the Canadian agricultural sector and meet specific criteria related to their business operations. Eligibility requirements typically include:- Canadian agricultural producers who are individuals, partnerships, cooperatives, or corporations.- Applicants must have allowable net sales from agricultural products.- Participants must reside in Canada and be involved in the primary production of agricultural goods.- The program is open to producers in all Canadian provinces and territories except for Quebec, where it is administered provincially.- Producers must be operating a farm and have a valid business number or equivalent identification.This information aligns with the requirements for participating in the AgriInvest program designed to assist agricultural operations in managing financial risks and investments.
grant_eligibility_criteria|who_cannot_apply
Some types of companies are not eligible for the AgriInvest grant.
- Government funded organizations, including research stations, universities, and colleges
- Landlords earning rental income (cash rent or payments-in-kind) for crop or livestock shares or arrangements
- Former federal public office holders or public servants who are not in compliance with federal conflict of interest guidelines
- Dissolved corporations
grant_eligibility_criteria|eligible_expenses
The AgriInvest program helps agricultural producers manage income fluctuations and invest in their operations to mitigate risks and enhance market opportunities. Eligible activities focus on income stability and risk management for agricultural businesses.
- Managing small income declines through self-managed producer-government savings accounts.
- Investments in risk management measures to improve farm resilience.
- Enhancements to market income through strategic reinvestments in agricultural operations.
grant_eligibility_criteria|zone
AgriInvest is delivered by the federal government to Northwest Territories, Yukon, and all provinces except Quebec. In Quebec, it is delivered provincially by La Financière agricole.
- Northwest Territories
- Yukon
- All provinces except Quebec
- Quebec (delivered by La Financière agricole)
grant_single_labels|criteria
There are evaluation and selection criteria for this grant.
- Demonstrated financial need.
- Evidence of sound risk management practices.
- Compliance with program guidelines and regulations.
- Potential for positive impact on market income.
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Gather Required Information
- Ensure all necessary financial and personal details are available for completing the application.
- Understand the specifics of your Allowable Net Sales to calculate potential deposits and contributions.
- Step 2: Access Application Forms
- Visit the official AgriInvest website to access the application forms.
- Download or complete forms online, as applicable.
- Step 3: Complete the Application
- Fill in all personal, business, and financial details as required in the application form.
- Double-check all entries for accuracy and completeness.
- Step 4: Submit Application
- Submit the completed application to the specified address or submit electronically as per instructions on the website.
- Ensure that all required attachments and supplementary documents are included.
- Step 5: Confirmation and Follow-Up
- Receive a confirmation of receipt from the AgriInvest program office.
- Keep track of any communication or requests from the program to address any issues or provide additional information.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- There are two funds involved in the AgriInvest account: Fund 1 includes your deposits, which are not taxable, and Fund 2 includes government contributions and interest, which are taxable.
- The program allows for flexibility as participants can withdraw funds at any time.
- Instructions are provided on how the matching government contribution and interest accumulation are calculated.
- Program guidelines provide comprehensive information and should be reviewed for detailed understanding.
Apply to this program
Securing Your Agricultural Future with AgriInvest
The AgriInvest program offers Canadian agricultural producers a financial cushion to manage minor income fluctuations and make strategic business investments. It is a collaborative effort between producers and the government to maintain economic stability and foster growth in the agriculture sector.
Understanding the AgriInvest Program and Its Benefits
The AgriInvest program is an integral part of the Sustainable Canadian Agricultural Partnership, providing vital financial support to agricultural producers across Canada, with provincial management in Quebec. This initiative is structured as a self-managed savings account where producers can deposit a portion of their Allowable Net Sales annually. The government matches these deposits, albeit up to 1% of the net sales, enhancing the funds available for managing financial shortcomings or undertaking improvements in agricultural operations.
The program is particularly beneficial during economic downturns when market income decreases. By bolstering funds through regular deposits and earned interest, AgriInvest helps producers stabilize their finances and invest strategically in their operations, whether that means purchasing new equipment, funding innovative projects, or generally mitigating risks associated with agricultural production. The account structure efficiently segregates contributions, ensuring that government contributions and interest are clearly distinguished from producers' deposits, with distinct tax implications for fund withdrawals.
One of AgriInvest's key strengths lies in its flexibility, allowing producers to withdraw funds at any time based on evolving market needs or unforeseen financial obstacles. This flexibility not only supports immediate financial challenges but also long-term investments aimed at increasing productivity or exploring new market opportunities. Moreover, the financial planning facilitated by AgriInvest encourages producers to engage in proactive risk management, crucial for the sustainable advancement of the agriculture sector.
AgriInvest is accessible to producers across Canada, including the Northwest Territories, Yukon, and all provinces excluding Quebec, where the provincial body La Financière agricole administers the program. This widespread reach ensures that the majority of Canadian agricultural producers can leverage this program to secure their operations against economic fluctuations, fostering resilience in the agricultural community.
For those looking to join AgriInvest, starting involves understanding its core mechanics, including how contributions are calculated and the process for depositing funds into personal accounts. These steps are outlined in the AgriInvest Program Guidelines, which provide comprehensive details to guide new applicants through the initial stages, right through to managing their accounts effectively once active.
Ultimately, AgriInvest stands as a cornerstone in Canada's agricultural financial strategy, offering essential benefits for small to medium-sized farm operations to manage risk and enhance their economic viability. Its contribution model not only ensures a safety net is in place for challenging fiscal periods but also motivates producers to make beneficial choices for their future growth and profitability. By leveraging AgriInvest, agricultural producers can significantly enhance their capacity to withstand economic ebbs and flows while positioning themselves for future success.
