How much funding can be received?

Cost-sharing structure where program costs are shared 60:40 by the provincial and federal governments under the Sustainable Canadian Agricultural Partnership (Sustainable CAP).
Program costs for participants are determined through a defined formula involving the producer’s contribution reference margin.
Interest on unpaid fees is calculated at a rate of 1% per month after January 1st of the following calendar year until the account is fully paid.
All program fees, administrative fees, and any outstanding amounts are deducted from payments to the client.

Eligible projects & activities

The AgriStability program supports farm operations by providing coverage for significant declines in profit margins due to adverse market conditions, production losses, or increased costs. Eligible projects include various farming activities that align with these objectives.

Coverage for farm operations experiencing large margin declines due to declining markets.
Support for farms affected by production losses and increased input costs.

Examples of admissible projects:

$ 65,000

Diversifying crops to include more market-demand vegetables

$ 45,000

Implementing organic pest control methods for sustainable farm production

$ 75,000

Innovating cold storage solutions for farm products in winter

$ 95,000

Establishing a new hydroponic system for vegetable production

$ 70,000

Creating a sustainable water recycling system for farm irrigation

$ 90,000

Developing a new line of drought-resistant wheat for increased productivity

Eligibility criteria of the AgriStability — Prince Edward Island program

Eligibility for the AgriStability program is determined by several criteria related to the producer's farming activities and compliance with program requirements.

The producer must have completed a minimum of six months of consecutive farming activity in Canada.
The producer must have completed a production cycle in the program year.
The producer must have reported farming income or loss to the Canada Revenue Agency within three months after the deadline for that program year.
The producer must meet all program enrolment, payment, and reporting requirements by the established deadlines.

Who is eligible?

Eligibility for the AgriStability program requires that a producer:- Completed a minimum of six months of consecutive farming activity in Canada.- Completed a production cycle in the program year.- Reported farming income (or loss) to the Canada Revenue Agency no later than three months after the deadline for that program year.- Meets all program enrolment, payment, and reporting requirements by the established deadlines.Producers must ensure they meet the enrolment and submission deadlines established for the program year.

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.

Eligibility criteria of the AgriStability — Prince Edward Island program

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

How to apply to the AgriStability — Prince Edward Island program

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.

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.

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.

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.

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.

Confirmation

Ensure that you receive confirmation of your enrolment and fee payment.
Retain any correspondence or receipts for your records.

Additional information

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.

Contact Government of Prince Edward Island

AICStability@gov.pe.ca

902-836-0435

Apply to this program

Loan to purchase farmland in Prince Edward Island (PEI)