The New Farmers Grant Fund was allocated $1 million in the 2015-16 state budget, up from $610,000 last year, and will provide grants to farmers who have recently started agriculture businesses, according to Gov. Andrew M. Cuomo’s office.
Eligible agribusinesses can receive up to 50 percent of project costs and the recipient must match the other half of the cost. The minimum amount provided will be $15,000 and the maximum is $50,000.
Some of the parameters for eligible operations include farmland in the state that is fewer than 150 acres, the business cannot be more than than 10 years old, and 2014 or 2015 tax returns must show the owner has had at least $10,000 in sales from products grown from the farm.
The grant money can be used for machinery, supplies or construction and improvement structures for agricultural purposes.
This is the second year the New Farmers Grant Fund has provided money to start-up agribusinesses. Last year, the fund aided 19 agriculture businesses, including four in the Hudson Valley.
Applications for grants are due Jan. 22, 2016. For more information, click here.
