AgriStability — Prince Edward Island
PE, Canada
Insurance to protect farming operations in Prince Edward Islands
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|minCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Agriculture, forestry, fishing and hunting
grant_single|grantors
- Government of Prince Edward Island
- Department of Agriculture and Land (PEI)
grant_single|status
grant_card_status|open
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Get financial support to help manage large income declines caused by production loss, increased costs or market conditions.
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This grant requires farm operations to be based in Canada to be eligible, encouraging participation in national agricultural support programs. It is particularly emphasized for producers operating in Prince Edward Island for enrolment purposes.
- Farms located anywhere within Canada are eligible.
- Specific emphasis on Prince Edward Island for the current enrolment program.
grant_single|admissibleProjectsExample
$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
grant_single_labels|admissibility
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.
grant_eligibility_criteria|who_can_apply
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.
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Some types of companies may not be eligible for this grant:
- Companies involved in illegal activities
- Non-profit organizations
- Companies based outside of Canada
grant_eligibility_criteria|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.
grant_eligibility_criteria|zone
The eligible geographic zones for the AgriStability program are within Canada, as long as the farming activities are conducted in the country.
- Canada
grant_single_labels|criteria
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
grant_single_labels|register
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.
grant_single_labels|otherInfo
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.
grant_single_labels|contact
AICStability@gov.pe.ca
902-836-0435
Apply to this program
AgriStability: Support for Farmers Experiencing Margin Declines
AgriStability is a federal-provincial program designed to assist Canadian farm operations that are facing significant declines in their profit margins due to various stresses such as weak markets, production losses, and increased costs of inputs. This program provides financial coverage that kicks in when a farm's current year's performance falls below a historical average, calculated based on a five-year span.
Understanding AgriStability: Eligibility, Enrollment, and Financial Details
AgriStability serves as a safety net for Canadian farmers, offering crucial financial support to stabilize incomes during tough economic times. The program is a key component of the Sustainable Canadian Agricultural Partnership, with funding sourced from both provincial and federal governments at a 60:40 split. Farmers operating in Prince Edward Island must note the specific enrollment deadlines to ensure participation, with registration required by April 30th each year.
Eligibility for AgriStability hinges on several factors, including maintaining a farming operation for a minimum of six months and completing a production cycle within the program year. Financial reporting to the Canada Revenue Agency is required, as it forms the basis for determining your coverage under the program. These criteria are designed to ensure that support reaches those who truly need it, based on objective measures of financial performance.
Once enrolled, participant contribution costs are calculated based on the "contribution reference margin," a figure determined by program administrators. This is subsequently multiplied by 0.315 percent, indicating the coverage offered. It's crucial that payments are made within 30 days of receiving your enrollment notice to avoid ineligibility, as failure to pay fees results in accumulating interest and deductions from potential payouts.
AgriStability also outlines clear protocols regarding communication and data management, with producers required to update any changes in contact details promptly using the Client Details Form. This ensures seamless communication between the program administrators and participants, upholding accuracy in data handling aligned with privacy legislation.
For those who are new to the program or have not participated in previous years, initial contact with the Agricultural Insurance Corporation aids in determining eligibility and supporting the registration process. Existing participants, however, will receive their enrollment notices by mid-March each year, making it a point of ease and continuity to rejoin the program if desired.
This program plays a critical role in ensuring the viability of Canadian agriculture, especially as farmers deal with unpredictable market shifts and ecological challenges. AgriStability not only provides the financial buffer but also promotes a sustainable agricultural economy by protecting it against volatility and enabling continued investment and growth in the sector.
