Situation: The Northeast producers that participated in this project faced financial risks that threaten their economic viability. These producers operated on some of the slimmest margins of any sector; for many, meeting cash-flow needs was a consistent stress. This not only limited their capacities to absorb short-term financial shocks, it also exacerbated the longer-term challenges of accessing capital and maintaining and growing equity. With weather variability expected to increase crop losses, these producers face a rising risk of failure due to both the lack of crop insurance suited to their operations and the barriers preventing them from accessing the programs that are available.
Outcomes: The project, led by Jeffrey Cole and Julia Grigg at The Carrot Project, addressed financial risks through education, training, and one-on-one business advising to help producers evaluate Federal risk management programs. Key elements were for farmers to: build financial record-keeping and management skills; identify financial risks; understand and evaluate risk mitigation resources/tools, including crop insurance; apply these tools to address financial risk; and take measurable steps toward economic viability. The target audience was underserved producers in CT, MA, ME, NH, and RI.
Impacts: We achieved all proposed outcomes, significantly exceeding our projections in two-thirds of our metrics, and we reached 328 producers. We accomplished this through intensive collaborations to define content, activities, and messaging that resonated with our audience. We then leveraged our partnerships and expertise to deliver impactful programming. The data available to date indicates two participants applied for USDA risk management products. These results are indicative of the positive impact our and NERME’s multi-year commitment to the work.
“I really appreciate the guidance you gave me. I felt really good about how it turned out – all the outstanding roadblocks came together at the last minute.”
-Northeast Farmer
