Engaging NextGen Farmers National Farm Business Management Conference June 2013 Eric Richer and David Marrison Extension Educators, Agriculture & Natural Resources Ohio State University Extension

Goals of NextGen Farmer Series Seek out 20 and 30-something farmers Survey for background information Multi-year program to fill those needs Develop a “young” farmer network

WHY Focus on NextGens? Nationwide, 57% of Farm Operators are 55+ In Ohio: –26% of farmers are 65+ –39% of land is held by those 65+ –Ag is $94 billion industry

HOW to Reach NextGens Contact Ag Teachers, Farm Bureau, agencies, 4-H agent, local farmers, etc Luncheon post-harvest to discuss needs Text, , call,etc. Low cost program…$20 total for 2013

WHO are my NextGens? Preferably those with recent “skin in the game” Daytime off farm; “moonlight” farmers Those wishing to return to the farm Children of mid/large producers – work for farm Focus in 2013: commercial agriculture.

WHEN and WHERE WHEN: February/Winter 3-4 weekly meetings Mondays 2-2 ½ hr sessions WHERE: Local Extension Office Restaurant??

WHAT is the Content of the Program? 2013 Emphasis: –Financial Health Balance Sheets, Income Statements and Budgets –Risk Management Overview, Production Risk, Legal Risk –Transition Planning/Farm Succession How to start the succession conversation Keynote Speaker

WHAT is the Future Content of the Program? 2014 Survey Results –3-4 February Evening Sessions of 2 hrs –Content Requests: Continuation of Farm Succession Continuation of Farm Financial Analysis Computerized Record Keeping (Quicken/Excel ©) Commodity and Direct Marketing Strategies Precision Agriculture Technology International Ag Tour

Success Factors… Involve and invite NextGen spouses Invite the “older generation” to a session Utilize local production agriculture “experts” Simple homework assignments Allow for social time

Measureable Outcomes 92% of participants plan to participate in next year’s program. 100% agreed that the program improved their ability to calculate net worth, farm profit, and the unit cost of production. 92% agreed that the program improved their understanding of business structures used to limit liability and how to manage production risk. 100% agreed that they learned useful strategies to start the farm succession conversation and they plan to have a formal conversation with the “current generation” in the coming year.

Farm Transitions

Advice for Transition Planning – Play Dead Would the NextGen be ready?

9 Questions to Ask about Your Future What do we desire to happen to our business? Is there a “future” for the business? How do we develop the next generation of managers? How can each generation communicate their needs, desires and aspirations?

9 Questions to Ask about Your Future Are plans being made for retirement? What are our plans for the unexpected? How can I treat my heirs fairly? What is the best way to transfer my farm and personal assets? How do I get my financial affairs in order?

Questions and Contact Info: Eric Richer ANR Extension Educator Ohio State University Extension Fulton County County David Marrison Associate Professor and ANR Extension Educator Ohio State University Extension Ashtabula & Trumbull Counties