AgriStability — Prince Edward Island

Who is eligible?

Who is not eligible

Some types of companies may not be eligible for this grant:

• Companies involved in illegal activities
• Non-profit organizations
• Companies based outside of Canada

Eligible expenses

The AgriStability program is designed to support farm operations experiencing significant margin declines due to various economic factors. This grant covers projects related to maintaining and stabilizing agricultural production under changing market and environmental conditions.

• Projects that address margin declines caused by declining markets.
• Initiatives to mitigate production losses through improved farming practices.
• Activities focused on managing increased input costs effectively.
• Whole-farm-margin coverage strategies for eligible agricultural producers.

Eligible geographic areas

This grant is available to producers operating within the jurisdiction of Prince Edward Island, as indicated by the funding body's regional focus. The eligibility is specifically tailored to agricultural operations in this area.

• Producers located in Prince Edward Island.

There are evaluation and selection criteria for this grant.

• Economic impact of the project
• Innovation and feasibility of the proposed activities
• Capacity and experience of the organization
• Alignment with grant objectives and priorities

Here are the steps to submit an application for the AgriStability program:

• Step 1: Check Eligibility
  • Ensure that you meet the eligibility criteria for participating in the AgriStability program, which includes completing a minimum of six months of consecutive farming activity in Canada, completing a production cycle in that program year, and reporting farming income or loss to the Canada Revenue Agency.
• Step 2: Enrol in the Program
  • The deadline to enrol in the PEI AgriStability program is April 30th.
  • If you are a new participant, contact the PEI Agricultural Insurance Corporation office at 902-836-0435 to start the enrolment process.
  • If you participated in the program the previous year, wait for your enrolment notice and contribution reference margin to be issued around mid-March.
  • Ensure the enrolment process is complete by paying the program fees within the stipulated timeline.
• Step 3: Submit Required Forms
  • Complete and submit all required program forms by the established deadlines.
  • Ensure that all the information provided in the forms is accurate and up-to-date.
• Step 4: Pay Program Fees
  • Calculate your contribution based on your "contribution reference margin".
  • Pay the fees within 30 days of receiving the enrolment notice or by four months after the start of the program year, whichever is later.
• Step 5: Update Client Information
  • If there are any changes to your contact details, complete the Client Details Form and submit it to the PEI Agricultural Insurance Corporation.
  • Contact the office at 902-836-0439 or email AICStability@gov.pe.ca for assistance or to obtain a form.
• Step 6: Confirmation
  • Ensure that you receive confirmation of your enrolment and fee payment.
  • Retain any correspondence or receipts for your records.

Here are additional relevant details for this grant:

• The program is cost-shared 60:40 between the provincial and federal governments.
• The participant's contribution is calculated using a specific formula involving the contribution reference margin.
• Payments must be made within specified timelines to maintain eligibility.
• PEI AgriStability has procedures to apply interest to unpaid fees on a monthly basis.
• Participants must notify P.E.I.AIC of any changes to their contact information using the Client Details Form.
• P.E.I.AIC adheres to privacy procedures compliant with the FOIP Act.