In January, money for a tax credit aimed at helping newer farmers ran out in one day. Around 300 farmers were turned away.
However, lawmakers decided to remove the cap on funds for the remainder of 2026, so those farmers and more will be eligible for thousands of dollars in tax credits.
Minnesota’s farmers are aging, and in order for the industry to stay healthy, the next generation of farmers needs to get in the game.
But farming is an expensive, capital-heavy business to get into, even for those who grew up on farms themselves. Land, in particular, is difficult for new farmers to access. Farming families hold on to tillable acres for generations and when land does go on the market, it’s expensive.