Success StorySecuring Kentucky’s Agricultural Future: Farm Management and Succession Planning
Securing Kentucky’s Agricultural Future: Farm Management and Succession Planning
Author: Kendal Bowman
Planning Unit: Owen County CES
Major Program: Farm Management, Economics and Policy
Plan of Work: Market, Technology, Horticulture, Livestock, Wildlife, Management Development
Outcome: Initial Outcome
Describe the Issue or Situation
Over the last 20 years, Kentucky has faced a significant decline in farmland and farming operations, losing 1.4 million acres of farmland and seeing the number of farms drop by 17,000. In 2002, Kentucky had 86,541 farms; by 2022, this number had decreased to just 69,425. These trends present critical challenges to the sustainability of agriculture in Kentucky, highlighting the urgent need for solutions to preserve farming operations and support farm families.
Describe the Outreach or Educational Program Response (and Partners, if applicable)
To address these challenges, the Owen County Cooperative Extension Service hosted Dr. Steve Isaacs, a highly respected Extension farm management specialist with the University of Kentucky. Dr. Isaacs, with over two decades of experience in farm financial management, human resources, and economic injury prevention, presented on strategies to support farm sustainability and improve farm management.
The program focused on key topics, including farm financial health, management principles, and the importance of planning for the future. Dr. Isaacs’ mission to communicate sound economic and management principles aligned perfectly with the program's goals. Despite snowy weather conditions, this event successfully gathered a dedicated audience. The program served as a springboard for participants to engage in a follow-up session the following week on wills and heirs' property, which addressed generational farm transition challenges.
Provide the Number and Description(s) of Participants/Target Audience
The program attracted 17 participants, including farmers, landowners, and stakeholders passionate about sustaining agriculture in their communities. Despite inclement weather, attendees were highly engaged and even returned the following week with their spouses for the wills and heirs' property session. This dedication highlights the program's relevance and impact on local agricultural families.
Provide a Statement of Outcomes or Program Impact
The program received exceptional feedback, with several participants stating it was the best program they had ever attended. The content resonated deeply with the audience, sparking increased awareness of critical farm management and succession planning strategies. Attendees expressed appreciation for the actionable insights and tools provided by Dr. Isaacs, which empowered them to make informed decisions about their farming operations.
As a direct result of this program, participants demonstrated a heightened commitment to addressing farm succession challenges by attending the follow-up session on wills and heirs' property, ensuring that their farms and legacies could be successfully transferred to the next generation. This increased engagement underscores the program's success in fostering proactive approaches to sustaining agriculture in Kentucky.
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