June 10, 2004
In recent years, the Timiskaming-Cochrane Economic Development Team, in conjunction with Community Futures Development Corporations (CFDC) of Northern Ontario have been doing their homework to find ways to diversify their regional economy. Back in 2000, four CFDCs (South Timiskaming CFDC, Kirkland & District Community Business Corporation, Economic Partners-Sudbury East/West Nipissing Inc., and the North Claybelt CFDC) partnered on a study which revealed that there were more than 450 beef producers and 33,000 head of cattle in the area. The beef cattle industry had good potential to be a new economic stimulant for the region. In partnership with FedNor and Farm Credit Canada, the four CFDCs were able to leverage up to $6 million to create the Bovine Incentive Capital Program, which began in 2002.
Linda Côté of South Timiskaming Community Futures says, “This is a unique partnership. We have three levels of government and 28 farms working together with a common goal of stimulating our economy through an increase in beef herds. It is estimated that this partnership will increase herd size by 290 000 breeder cows and support 360 new employment positions over the next 14 years. That’s good news for everyone in our region, but particularly for our youth who are so integral to the success of our future.”
The initiative provides the opportunity for Northern beef producers to become more competitive with southern producers who enjoy longer pasture seasons. Under the initiative, the Timiskaming-Cochrane Breeder Co-operative was established. It helps to provide regional beef producers with incentive loans to increase the number of beef herds. Board members of the Co-op are made up of beef producers from each of the CFDC areas and assists farmers with their applications for funding.
Marc Robillard, a cattle Farmer from Belle Valley says, “This program has inspired a lot of young people to get into farming. It has also helped existing farmers to expand their operations. The Co-op has made access to financial assistance so much easier. In just one year, 700 new beef cattle were bought through the program and $660,000 in loans got underway. This is welcomed news for the agricultural industry of our area.”