New Venture: 21st Century Agriculture Project for Suffield, Connecticut
Four Season Farm LLC, a newly formed venture created by a long-time Connecticut farmer, international greenhouse developer, and former Wall Street executive, will develop 10 acres of land in Suffield as a hydroponic farm, where the company plans to create 40 new jobs over the next two years.
“Farming in the 21st century can be very different from what we know, and Four Season Farm can lead the way with this innovative, technologically advanced operation,” Governor Dannel Malloy said. “We’re happy to have them establish their operations in our state and look forward to seeing them grow.”
Hydroponic farming is an eco-friendly process, whereby water is recycled, soil is undisturbed, CO2 is consumed, and renewable approaches are used in cultivation.
The partners in the venture are Joe Geremia, who runs seven acres of greenhouses in Wallingford, Henry Froese, a pioneer and expert in the building of greenhouse operations, and Herbert Soroca, CEO of North Cove Capital Advisors in Stamford, which provides financial, management and strategic advice to emerging growth companies.
Generations of farm stand visitors may be more familiar with this aspect of Geremia's – but the business has also adapted to technology and expanded while remaining true to its roots in the land. Illustration of Geremia's Farm stand connected to the Facebook page for seasonal updates.
“We are grateful for the state’s support for our 21st century agriculture project,” Geremia, a third generation Connecticut farmer, said. “Four Season Farm will lay the foundation for a new generation of indoor agriculture to compete with foreign produce, create living wage jobs and tax revenues for Suffield and the state, and provide locally grown, healthy food for Connecticut consumers. It is a win-win for everyone.”
With a state-of-the-art facility, using the latest in technology including computer controlled light, humidity and nutrients, Four Season Farm has a five-year plan that includes a 10-acre facility that will produce 5.75 million pounds of tomatoes the first year and 7.5 million pounds by the third year. Eventually, the farm plans to create a 43-acre greenhouse complex and add crops such as cucumbers, peppers and micro greens.
Inside the farm stand, things are traditional, including this original sign and fresh vegetables below it. CB/MDP photo
“Through this project, we are helping to ensure former farm land in Suffield is not only preserved but also continues to be a resource,” Department of Economic and Community Development (DECD) Commissioner Catherine Smith said. “It’s great to see technology play a role in improving our farming capabilities, and what could be better than assuring consumers a fresh supply of delicious, vine-ripened, locally grown vegetables year round?”
DECD is providing $3 million in financing support for the purchase of machinery and equipment for the farm.
Robotic seedling planter at Geremia Farms. Mechanic fingers grasp, hold, insert and release seedlings from one container to another. Transplanting the young plants to larger containers allows them to continue growing while minimizing handling damage. Photo: CT.gov
Rolling benches at Geremia Farms. Individual benches move along supports from one operation station to the next or between greenhouses with different humidity and temperature conditions. Photo: ct.gov
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Ag/Farm/Business News To Use & Resources :
The U.S. Department of Agriculture’s (USDA) Farm Service Agency (FSA) expanded a unique service for farmers and ranchers. FSA’s Bridges to Opportunity program provides a one-stop-shop that connects producers with resources, programs and educational services offered across the department, as well as from other USDA partner organizations. Bridges to Opportunity, which currently provides enhanced customer support to more than 150,000 customers in 20 states, will expand to serve customers across the country before the end of the month using fiscal year 2016 funds.
FSA’s presence in more than 2,100 county offices, in nearly every rural county, puts the agency in a unique position to partner with non-governmental organizations to reach thousands of agricultural producers who can benefit from the programs and services.
Bridges to Opportunity allows FSA employees to search and obtain a list of all local, state, regional and national organizations that may be able assist local producers with their specific needs.
Farm Storage Facility Loans
FSA’s Farm Storage Facility Loan (FSFL) program provides low-interest financing to producers to build or upgrade storage facilities and to purchase portable (new or used) structures, equipment and storage and handling trucks.
The low-interest funds can be used to build or upgrade permanent facilities to store commodities. Eligible commodities include corn, grain sorghum, rice, soybeans, oats, peanuts, wheat, barley, minor oilseeds harvested as whole grain, pulse crops (lentils, chickpeas and dry peas), hay, honey, renewable biomass, fruits, nuts and vegetables for cold storage facilities, floriculture, hops, maple sap, rye, milk, cheese, butter, yogurt, meat and poultry (unprocessed), eggs, and aquaculture (excluding systems that maintain live animals through uptake and discharge of water). Qualified facilities include grain bins, hay barns and cold storage facilities for eligible commodities.
Loans up to $50,000 can be secured by a promissory note/security agreement and some loans between $50,000 and $100,000 will no longer require additional security.
Producers do not need to demonstrate the lack of commercial credit availability to apply. The loans are designed to assist a diverse range of farming operations, including small and mid-sized businesses, new farmers, operations supplying local food and farmers markets, non-traditional farm products, and underserved producers.
To learn more about the FSA Farm Storage Facility Loan, visit www.fsa.usda.gov/pricesupport. To find your local FSA county office, visit http://offices.usda.gov.
Streamlined Guaranteed Loans and Additional Lender Category for Small-Scale Operators
The USDA offers a streamlined version of USDA guaranteed loans, which are tailored for smaller scale farms and urban producers. The program, called EZ Guarantee Loans, uses a simplified application process to help beginning, small, underserved and family farmers and ranchers apply for loans of up to $100,000 from USDA-approved lenders to purchase farmland or finance agricultural operations.
A new category of lenders will join traditional lenders, such as banks and credit unions, in offering USDA EZ Guarantee Loans. Microlenders, which include Community Development Financial Institutions and Rural Rehabilitation Corporations, will be able to offer their customers up to $50,000 of EZ Guaranteed Loans, helping to reach urban areas and underserved producers. Banks, credit unions and other traditional USDA-approved lenders, can offer customers up to $100,000 to help with agricultural operation costs.
EZ Guarantee Loans offer low interest rates and terms up to seven years for financing operating expenses and 40 years for financing the purchase of farm real estate. USDA-approved lenders can issue these loans with the Farm Service Agency (FSA) guaranteeing the loan up to 95 percent.
The USDA Farm Service Agency (FSA) reminds producers that FSA offers targeted farm ownership and farm operating loans to assist underserved applicants as well as beginning farmers and ranchers. USDA defines underserved applicants as a group whose members have been subjected to racial, ethnic, or gender prejudice because of their identity as members of the group without regard to their individual qualities. For farm loan program purposes, targeted underserved groups are women, African Americans, American Indians and Alaskan Natives, Hispanics and Asians and Pacific Islanders.
Underserved or beginning farmers and ranchers who cannot obtain commercial credit from a bank can apply for either FSA direct loans or guaranteed loans. Direct loans are made to applicants by FSA. Guaranteed loans are made by lending institutions who arrange for FSA to guarantee the loan. FSA can guarantee up to 95 percent of the loss of principal and interest on a loan. The FSA guarantee allows lenders to make agricultural credit available to producers who do not meet the lender's normal underwriting criteria.
The direct and guaranteed loan program provides for two types of loans: farm ownership loans and farm operating loans. In addition to customary farm operating and ownership loans, FSA now offers Microloans through the direct loan program. The focus of microloans is on the financing needs of small, beginning farmer, niche and non-traditional farm operations. Microloans are available for both ownership and operating finance needs. To learn more, visit www.fsa.usda.gov/microloans. To qualify as a beginning producer, the individual or entity must meet the eligibility requirements outlined for direct or guaranteed loans. Additionally, individuals and all entity members must have operated a farm for less than 10 years. Applicants must materially or substantially participate in the operation. For information visit www.fsa.usda.gov/farmloans.