| PROJECT SUMMARY |
| The project will help farm producers understand the tax implications and business development opportunities offered by various Federal and State environmental and conservation regulations and incentives. Participants at two workshops in North Carolina, one each in the eastern and piedmont regions of the state, and one in southeastern Virginia, will work through sample business plans that incorporate costs associated with environmental regulations, as well as business investment opportunities available from various conservation cash incentive programs. Special attention will be given to long term business planning, incorporating multi-family models that operate under a business succession plan. Specific areas include income tax implications of compliance costs and incentive payments, production options and markets built on conservation practices, and tax advantages of complex business organizations. Participants will leave the workshop with a working knowledge of how to turn environmental risk management into business opportunity for their farm operation. Participants will also gain a working knowledge of how to incorporate environmental risk management into their long-term business succession and tax planning. |
| NUMBER OF PARTICIPANTS: 594 |
| TOPICS COVERED |
| Insurance products |
| Capital and financial assets |
| Plans and tools to address succession, estate planning, health, and well being |
| Tools for managing legal liability |
| Leases, contracts and negotiation |
| Understanding of economic risks associated with new production technologies |
| Business and strategic planning |
| Interpersonal, family and business relationships |
| Ability to manage changes in policy and regulation |
