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Building up agricultural societies

Agricultural societies play a significant role in the social life of Alberta towns, villages and rural communities. Throughout the year, they can be counted on to host community events from farmers markets and craft fairs to children’s programs and summer rodeos.

The 2023 Agricultural Societies Infrastructure Revitalization Program is granting $2.5 million to 34 ag societies to update existing facilities like community halls, arenas and rodeo grounds. Modern buildings and amenities encourage community involvement and growth.

“Agricultural societies play a key role in improving rural communities and well-maintained facilities support their continued success. With these funds, ag societies across Alberta will be able to expand programs and keep their spaces safe, modern and accessible. These facilities play an essential role in rural communities, offering residents and visitors opportunities to gather, build connections and engage with their neighbours.”

RJ Sigurdson, Minister of Agriculture and Irrigation
Each year, Alberta’s government supports the work of agricultural societies through the Agricultural Societies Infrastructure Revitalization Program. Individual projects may receive funding between $10,000 and $100,000.

The most common types of facilities applied for under the program were arenas, curling rinks, community halls and grandstands. Some of the approved projects the funding will support include roof repairs, kitchen and bathroom renovations, window and door upgrades, and increasing accessibility.

“We’re pleased to see a strong uptake of this new capital grant by ag societies across Alberta. These facilities are gathering spaces for a range of activities, including farmers markets, rural fairs, team sports and rodeos. The facility upgrades that are now possible with this funding will immensely benefit rural communities.”

Tim Carson, CEO, Alberta Association of Agricultural Societies
 
“On behalf of the Madden Ag society, I would like to thank the provincial government along with the Alberta Association of Agricultural Societies for their financial support to help maintain and enhance our wonderful community centre. This funding makes it possible to both replace the flooring in our commercial kitchen as well as upgrade our curling rink with newer energy-saving liners to help reduce operating costs and improve the overall quality of the ice.”

Dustin Helm, president, Madden & District Agricultural Society
Alberta’s government will continue to support agricultural societies through the Agricultural Societies Infrastructure Revitalization Program in 2024, with the intake opening later this year.

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The Investment Opportunities of Industrial Hemp

Video: The Investment Opportunities of Industrial Hemp

The fledgling U.S. hemp industry is decades behind countries like Canada, France and China, but according to impact investor and this week’s podcast guest, Pierre Berard, it could flourish into a $2.2 billion industry by 2030 and create thousands of jobs.

To reach its potential, what the hemp industry needs most right now, Berard said, is capital investment.

Last month, Berard published a report titled “Seeing the U.S. Industrial Hemp Opportunity — A Pioneering Venture for Investors and Corporations Driven by Environmental, Social and Financial Concerns” in which he lays out the case for investment.

It’s as if Berard, with this report, is waving a giant flag, trying to attract the eyes of investors, saying, “Look over here. Look at all this opportunity.”

Berard likens the burgeoning American hemp industry to a developing country.

“There is no capital. People don’t want to finance. This is too risky. And I was like, OK, this sounds like something for me,” he said.

As an impact investor who manages funds specializing in agro-processing companies, Berard now has his sights set on the U.S. hemp industry, which he believes has great economic value as well as social and environmental benefits.

He spent many years developing investment in the agriculture infrastructure of developing countries in Latin America and Africa, and said the hemp industry feels similar.

“It is very nascent and it is a very fragmented sector. You have pioneers and trailblazers inventing or reinventing the field after 80 years of prohibition,” he said. “So I feel very familiar with this context.”

On this week’s hemp podcast, Berard talks about the report and the opportunities available to investors in the feed, fiber and food sectors of the hemp industry.

Building an industry around an agricultural commodity takes time, he said. According to the report, “The soybean industry took about 50 years to become firmly established, from the first USDA imports in 1898 to the U.S. being the top worldwide producer in the 1950s.”

Berard has a plan to accelerate the growth of the hemp industry and sees a four-pillar approach to attract investment.

First, he said, the foundation of the industry is the relationship between farmers and processors at the local level.

Second, he said the industry needs what he calls a “federating body” that will represent it, foster markets and innovations, and reduce risk for its members and investors.

The third pillar is “collaboration with corporations that aim to secure or diversify their supply chains with sustainable products and enhance their ESG credentials. This will be key to funding the industry and creating markets,” he said.

The fourth pillar is investment. Lots of it. Over $1.6 billion over seven years. This money will come from government, corporations, individual investors, and philanthropic donors.

The 75-page report goes into detail about the hemp industry, its environmental and social impact, and the opportunities available to investors.

Read the report here: Seeing the U.S. Industrial Hemp Opportunity

Also on this episode, we check in with hemp and bison farmer Herb Grove from Brush Mountain Bison in Centre County, PA, where he grew 50 acres of hemp grain. We’ll hear about harvest and dry down and crushing the seed for oil and cake.